Section 538 loans are added to the multifamily foreclosure procedures
To increase the supply of housing in America, and for other purposes, section 502, Sec. 502.
Written by .
Section 538 loans are added to the multifamily foreclosure procedures
The document says “is amended”Who acts: CongressHow: statuteSec. 502 in the PDF
What the document says
“(A) by striking ``or 515'' and inserting ``515, or 538''; and (B) by inserting ``, 1490p-2'' after ``1485''.”
The section amends section 363(2)(F) of the Multifamily Mortgage Foreclosure Act of 1981 to add loans under section 538 of the Housing Act of 1949, and the matching United States Code citation, to the mortgages the Act's procedures reach.
What the document actually says
“(A) by striking ``or 515'' and inserting ``515, or 538''; and (B) by inserting ``, 1490p-2'' after ``1485''.”
That sentence, in plain words
Two words come out of an older law. Longer words go in. They add one more kind of loan. A code citation is added to match.
What this is about
The older Act sets out how the farm agency forecloses. It listed some loan programs and not others. Now it lists one more.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
Increase the supply of housing in America, Public Law 119-101, sec. 502, 140 Stat. 918 (2026). https://www.govinfo.gov/content/pkg/PLAW-119publ101/html/PLAW-119publ101.htm
This page
“Section 538 loans are added to the multifamily foreclosure procedures,” Increase the supply of housing in America, section 502, Sec. 502. Read the Mandate, https://readthemandate.org/pl-119-101/proposal/sec502-foreclosure-procedures/ (retrieved October 10, 2026).
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