12 U.S.C. § 1712a

Indexing of FHA multifamily housing loan limits

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(a) Method of indexingThe dollar amounts set forth in—(1)section 1713(c)(3)(A) of this title;(2)section 1715e(b)(2)(A) of this title;(3)section 1715k(d)(3)(B)(iii)(I) of this title;(4) section 1715l(d)(3)(ii)(I) of this title;(5) section 1715l(d)(4)(ii)(I) of this title;(6)section 1715v(c)(2)(A) of this title; and(7)section 1715y(e)(3)(A) of this title;

(collectively hereinafter referred to as the “Dollar Amounts”) shall be adjusted annually, commencing on July 1, 2025. The adjustment of the Dollar Amounts shall be calculated by the Secretary using the percentage change in the Price Deflator Index of Multifamily Residential Units Under Construction released by the Bureau of the Census from March of the previous year to March of the year in which the adjustment is made, or by the Secretary using an alternative indicator after publishing information about such alternative indicator in the Federal Register for public comment if the Price Deflator Index of Multifamily Residential Units Under Construction is not available or published.

(b) Publication(1) In general

The Secretary shall publish in the Federal Register any adjustments made to the Dollar Amounts.

(2) Rounding

The dollar amount of any adjustment described in paragraph (1) shall be rounded to the next lower dollar.

(June 27, 1934, ch. 847, title II, § 206A, as added Pub. L. 107–326, § 5(a), Dec. 4, 2002, 116 Stat. 2794; amended Pub. L. 119–101, title II, § 211(a)(1), July 11, 2026, 140 Stat. 881.)Editorial NotesAmendments

2026—Subsec. (a). Pub. L. 119–101, § 211(a)(1)(A), substituted in concluding provisions “, commencing on July 1, 2025. The adjustment of the Dollar Amounts shall be calculated by the Secretary using the percentage change in the Price Deflator Index of Multifamily Residential Units Under Construction released by the Bureau of the Census from March of the previous year to March of the year in which the adjustment is made, or by the Secretary using an alternative indicator after publishing information about such alternative indicator in the Federal Register for public comment if the Price Deflator Index of Multifamily Residential Units Under Construction is not available or published.” for “(commencing in 2004) on the effective date of the Federal Reserve Board’s adjustment of the $400 figure in the Home Ownership and Equity Protection Act of 1994 (HOEPA). The adjustment of the Dollar Amounts shall be calculated using the percentage change in the Consumer Price Index for All Urban Consumers (CPI–U) as applied by the Federal Reserve Board for purposes of the above-described HOEPA adjustment.”

Subsec. (b). Pub. L. 119–101, § 211(a)(1)(B), amended subsec. (b) generally. Prior to amendment, text read as follows: “The Federal Reserve Board on a timely basis shall notify the Secretary, or his designee, in writing of the adjustment described in subsection (a) and of the effective date of such adjustment in order to permit the Secretary to undertake publication in the Federal Register of corresponding adjustments to the Dollar Amounts. The dollar amount of any adjustment shall be rounded to the next lower dollar.”

Statutory Notes and Related SubsidiariesConstruction of 2026 Amendment

Pub. L. 119–101, title II, § 211(b), July 11, 2026, 140 Stat. 883, provided that: “Nothing in this section [amending this section and sections 1713, 1715e, 1715k, 1715l, 1715v, and 1715y of this title] or the amendments made by this section may be construed to limit the authority of the Secretary of Housing and Urban Development to revise the statutory exceptions for high-cost percentage and high-cost areas annual indexing.”

Notes of Decisions

Cited in 1 case, 2013–2013 · leading case: Sec. Inv. Prot. Corp. v. Bernard L. Madoff Inv. Sec. LLC (In re Madoff), 496 B.R. 744 (Bankr. S.D.N.Y. 2013).

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Sec. Inv. Prot. Corp. v. Bernard L. Madoff Inv. Sec. LLC (In re Madoff), 496 B.R. 744 (Bankr. S.D.N.Y. 2013). “§ 104 (explicitly providing adjustment for inflation); 12 U.S.C. § 1712a (same), 10 U.S.C. § 2306a(7) (finding adjustment must be “equal to the fiscal year 1994 constant dollar value of the amount set forth”), (ii) certain provisions of SIPA, see SIPA § 78jjj(a) (interest…”

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