Page:United States Statutes at Large Volume 108 Part 6.djvu/109

 PUBLIC LAW 103-446—NOV. 2, 1994 108 STAT. 4677 (2) in subparagraph (C), by striking out "may not exceed" and all that follows in such subparagraph and inserting in lieu thereof "may not exceed— "(i) an amount equal to the sum of the balance of the loan being refinanced and such closing costs (including any discount permitted pursuant to section 3703(c)(3)(A) of this title) as may be authorized by the Secretary (under regulations which the Secretary shall prescribe) to be included in the loan; or "(ii) in the case of a loan for the purpose specified in subsection (a)(ll), an amount equal to the simi of the amount referred to with respect to the loan under clause (i) and the amount specified under subsection (d)(2);". ^ (c) FEE.— Section 3729(a)(2)(E) is amended by inserting 38 USC 3729. "3 710(a)(ll), after "3710(a)(9)(B)(i),. SEC. 906. AUTHORITY TO GUARANTEE LOANS TO REFINANCE ADJUST- ABLE RATE MORTGAGES TO FIXED RATE MORTGAGES. Section 371(Xe)(l)(A) is amended by inserting before the semi- 38 USC 3710. colon at the end the following: "or, in a case in which the loan is a fixed rate loan and the loan being refinanced is an adjustable rate loan, the loan bears interest at a rate that is agreed upon by the veteran and the mortgagee". SEC. 906. MANUFACTURED HOME LOAN INSPECTIONS. (a) CERTIFICATION OF CONFORMITY WITH STANDARDS. —Paragraph (2) of subsection (h) of section 3712 is amended to read 38 USC 3712. as follows: "(2) Any manufactured housing unit properly displaying a certification of conformity to all applicable Federal manufactured home construction and safeti^ standards pursuant to section 616 of the National Manufactured Housing Construction and Safety Standards Act of 1974 (42 U.S.C. 5415) shall be deemed to meet the standards required by paragraph (1).". (b) REPEAL OF INSPECTION REQUIREMENTS. — Subsection (j) of such section is amended by striking out "in the CEise oF the first place it appears and all that follows and inserting in lieu thereof in the case of—- "(1) manufactured homes constructed by a manufacturer who fails or is imable to discharge the mfinufacturer's obligations under the warranty; "(2) manufactured homes which are determined by the Secretary not to conform to the standards provided for in subsection (n); or "(3) a manufacturer of manufactured homes who has engaged in procedures or practices determined by the Secretary to be unfair or prejudicial to veterans or the Government. (c) EUMINATION OF REPORTING REQUIREMENT. — Subsection (1) of such section is amended— (1) by striking out "the results of inspections required by subsection (h) of this section,"; and (2) by striking out "of this section,". SEC. 907. PROCEDURES ON DEFAULT. (a) IN GENERAL. — Paragraph (7) of section 3732(c) is amended— 38 USC 3732. (1) in the matter preceding subparagraph (A), by striking out "that was the minimum amount for whicn, under applicable

�