Page:United States Statutes at Large Volume 105 Part 3.djvu/441

 PUBLIC LAW 102-242 —DEC. 19, 1991 105 STAT. 2325 "(C) INVENTORIES. — To facilitate acquisitions by such participating jurisdictions, the Corporation shall provide the participating jurisdictions with inventories of eligible single family properties not less than 4 times each year. "(h) COORDINATION WITH OTHER PROGRAMS. — "(1) USE OF SECONDARY MARKET AGENCIES. — In the disposition of eligible residential properties, the Corporation (in consultation with the Secretary) shall explore opportunities to work with secondary market entities to provide housing for low- and moderate-income families. "(2) CREDIT ENHANCEMENT. — "(A) IN GENERAL.—With respect to such properties, the Secretary may, consistent with statutory authorities, work through the Federal Housing Administration, the Government National Mortgage Association, the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and other secondary market entities to develop risk-sharing structures, mortgage insurance, and other credit enhancements to assist in the provision of property ownership, rental, and cooperative housing opportunities for low- and moderate-income families. "(B) CERTAIN TAX-EXEMPT BONDS. —The Corporation may provide credit enhancements with respect to tax-exempt bonds issued on behalf of nonprofit organizations pursuant to section 103, and subpart A of part IV of subchapter A of chapter 1, of the Internal Revenue Code of 1986, with respect to the disposition of eligible residential properties for the purposes described in subparagraph (A). "(3) NATIONAL AFFORDABLE HOUSING ACT. — The Corporation shall coordinate the disposition of eligible residential property under this section with appropriate programs and provisions of, and amendments made by, the Cranston-Gonzalez National Affordable Housing Act, including titles II and IV of such Act. "(i) EXEMPTION FOR CERTAIN TRANSACTIONS WITH INSURED DEPOSI- TORY INSTITUTIONS. — The provisions of this section shall not apply with respect to any eligible residential property after the date the Corporation enters into a contract to sell such property to an insured depository institution (as defined in section 3), including any sale in connection with a transfer of all or substantially all of the assets of a closed insured depository institution (including such property) to another insured depository institution. " (j) TRANSFER OF CERTAIN ELIGIBLE RESIDENTIAL PROPERTIES TO ^ STATE HOUSING AGENCIES FOR DISPOSITION. —Notwithstanding subsections (c), (d), (f), and (g), the Corporation may transfer eligible residential properties to the State housing finance agency or any other State housing agency for the State in which the property is located, or to any local housing agency in whose jurisdiction the property is located. Transfers of eligible residential properties under this subsection may be conducted by direct sale, consignment sale, or any other method the Corporation considers appropriate and shall be subject to the following requirements: "(1) INDIVIDUAL OR BULK TRANSFER. —The Corporation may transfer such properties individually or in bulk, as agreed to by the Corporation and the State housing finance agency or State or local housing agency. "(2) ACQUISITION PRICE.— The acquisition price paid by the State housing finance agency or State or local housing agency to

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