Sec. 205. Affordability requirements for multifamily mortgage insurance
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/bill/115/hr/6746/ih/section-205·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Notwithstanding any provision of the National Housing Act or any other provision of law, the FHA may not insure any mortgage on a residential property having 5 or more dwelling units unless the property complies with such affordability requirements as the FHA shall establish to ensure that each such insured mortgage contributes to the financing of affordable housing for low- and moderate-income families, including such families in areas that the FHA determines to have high housing costs. This section may not be construed to require the FHA to establish or enforce annual income verification or rent certification requirements for residential properties referred to in subsection (a).