A bill to amend the National Housing Act to provide additional authorization for the Government National Mortgage Association tandem program and to express Congressional opposition to certain rescissions, and for other purposes.

Expresses the sense of Congress that: (1) proposed rescissions of Federal funds for multifamily rental housing projects on which construction can begin within 12 months after enactment of this Act should be rejected; and (2) the Secretary of Housing and Urban Development should expedite construction of such projects.

Amends the National Housing Act to increase the limitation on the amount of home mortgages the President can authorize the Government National Mortgage Association to purchase.