Page:United States Statutes at Large Volume 88 Part 1.djvu/771

 88 STAT. ]

PUBLIC LAW 93-383-AUG. 22, 1974

727

(2) Section 11(h) of the Federal Home Loan Bank Act is amended 12 USC 1431. hj inserting immediately after "Government National Mortgage Association" the following: ", in mortgages, obligations, or other securities which are or ever have been sold by the Federal Home Loan Mortgage Corporation pursuant to section 305 or section 306 of the Federal Home Loan Mortgage Corporation Act". ^^'^2 USC 1454, (3) Section 16 of the Federal Home Loan Bank Act is amended by 12 USC 1436. inserting immediately after "Government National Mortgage Association" the following: ", in mortgages, obligations, or other securities which are or ever have been sold by the Federal Home Loan Mortgage Corporation pursuant to section 305 or section 306 of the Federal Home Loan Mortgage Corporation Act". (4) Section 5(c) of the Home Owners' Loan Act of 1933 is amended ^^ use i464. by inserting immediately after "Federal Home Loan Bank" in the first paragraph the following: ", or in mortgages, obligations, or other securities which are or ever have been sold by the Federal Home Loan Mortgage Corporation pursuant to section 305 or 306 of the Federal Home Loan Mortgage Corporation Act". (5) Section 107(8)(E) of the Federal Credit Union Act is amended »2 USC 1757. by inserting immediately after "Government National Mortgage Association" the following: "; or in mortgages, obligations, or other securities which are or ever have been sold by the Federal Home Loan Mortgage Corporation pursuant to section 305 or section 306 of the Federal Home Loan Mortgage Corporation Act;". FEDERAL NATIONAL MORTGAGE ASSOCIATION AMENDMENTS

SEC. 806. (a) Section 302(a)(2) of the National Housing Act is amended— (1) by striking out "the effective date established pursuant to section 808 of the Housing and Urban Development Act of 1968" in the matter preceding subparagraph (A) and inserting in lieu thereof "September 1, 1968"; and (2) by striking out "effective" in subparagraphs (A) and (B). (b) The third sentence of section 3 0 2 (a)(2)(B) of such Act is amended— (1) by inserting "or the metropolitan area thereof" immediately after "District of Columbia"; (2) by inserting "jurisdiction and" immediately before "venue"; and (3) by striking out "resident thereof" and inserting in lieu thereof "District of Columbia corporation". (c) Section 302(b)(2) of such Act is amended by striking out "75 per centum" each place it appears and inserting in lieu thereof "80 per centum". (d) Clause (C) of the second sentence of section 302(b)(2) of such Act is amended by striking out "private". (e) The fourth sentence of section 302(b)(2) of such Act is amended by striking out "10 per centum" and inserting in lieu thereof "20 per centum". (f) The last sentence of section 302(b)(2) of such Act is amended by striking out "which are comparable to the limitations which would be applicable if the mortgage were insured by the Secretary of Housing and Urban Development under section 203(b) or 207 of the National Housing Act" and inserting in lieu thereof the following: ", but such limitations shall not exceed the limitations contained in the first proviso of the first sentence of section 5(c) of the Home Owners Loan Act of 1933". (g) Section 303(a) of such Act is amended— • /; '

12 USC 1717.

12 USC 1718.

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