Page:United States Statutes at Large Volume 122.djvu/2869

 12 2 STA T . 2 846PUBLIC LA W 11 0– 28 9—J UL Y3 0, 2008 ‘ ‘ (C)Premiu m cha r g e s u nd er t his p aragraph sha l l b e estab - lished in am o unts that are su f ficient , butdonote x ceed the minimum amounts necessar y , to maintain a negati v e credit subsidy for the program under this section for insurance of loans, advances of credit, or purchases in connection w ith a manufactured home or a lot on which to place such a home (or both), as determined based upon ris k to the F ederal G overn- ment under existing underwriting re q uirements . ‘‘( D ) T he S ecretary may increase the limitations on pre- mium payments to percentages above those set forth in sub- paragraphs ( A )and( B ), but only if necessary, and not in excess of the minimum increase necessary, to maintain a nega- tive credit subsidy as described in subparagraph (C). ’ ’. SEC.2147 . T EC HNI C AL C OR RECTIONS. (a) D ATES . — Subsection (a) of section 2 of the N ational H ousing Act ( 1 2 U .S.C. 1 703 (a)) is amended— (1) by striking ‘‘on and after J uly1,1 9 39,’’ each place such term appears and (2) by striking ‘‘made after the effective date of the Housing Act of 19 54 ’’. (b) A U T HORI T Y O F SE C RETARY.—Subsection (c) of section 2 of the National Housing Act (12 U.S.C. 1703(c)) is amended to read as follows

‘‘(c) HA NDL IN G AND DIS P OSAL OF PROPERTY.— ‘‘(1) AUTHORITY OF SECRETARY.—Notwithstanding any other provision of law, the Secretary may— ‘‘(A) deal with, complete, rent, renovate, moderni z e, insure, or assign or sell at public or private sale, or other- wise dispose of, for cash or credit in the Secretary’s discre- tion, and upon such terms and conditions and for such consideration as the Secretary shall determine to be reason- able, any real or personal property conveyed to or otherwise acquired by the Secretary, in connection with the payment of insurance heretofore or hereafter granted under this title, including any evidence of debt, contract, claim, per- sonal property, or security assigned to or held by him in connection with the payment of insurance heretofore or hereafter granted under this section; and ‘‘(B) pursue to final collection, by way of compromise or otherwise, all claims assigned to or held by the Secretary and all legal or equitable rights accruing to the Secretary in connection with the payment of such insurance, including unpaid insurance premiums owed in connection with insurance made available by this title. ‘‘(2) AD V ERTISE M ENTS FOR PROPOSALS.—Section 3709 of the R evised Statutes shall not be construed to apply to any contract of hazard insurance or to any purchase or contract for services or supplies on account of such property if the amount thereof does not exceed $ 25,000. ‘‘(3) DELEGATION OF AUTHORITY.—The power to convey and to execute in the name of the Secretary, deeds of conveyance, deeds of release, assignments and satisfactions of mortgages, and any other written instrument relating to real or personal property or any interest therein heretofore or hereafter acquired by the Secretary pursuant to the provisions of this title may be exercised by an officer appointed by the Secretary without

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