WASHINGTON -- The Senate Banking Committee approved legislation yesterday to remove statutory roadblocks that are keeping the federal government from selling off billions of dollars in nonperforming multifamily housing loans.

On a separate issue, the catch-all housing bill includes a provision that would provide more federal money to state and local governments under the HOME housing affordability program for the construction of multifamily units.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.