Limitation on Fannie Mae and Freddie Mac investments

Subpart A of part 2 of subtitle A of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (12 U.S.C. 4541 et seq.) is amended by adding at the end the following new section: 1329. Limitation on enterprise investments The Director shall, by regulations issued after notice and opportunity for interested parties to comment at a public hearing, establish standards and criteria for the purchase by the enterprises of mortgages on multifamily rental housing as the Director considers necessary to ensure basic renter protections and prevent egregious rent increases for tenants in such housing..