Page:United States Statutes at Large Volume 95.djvu/1540

 95 STAT. 1514

PUBLIC LAW 97-110—DEC. 26, 1981

(3) in subsection (o), by inserting "the Trust Territory of the Pacific Islands," after "American Samoa," each place it appears therein. (b) Section 7 of such Act (12 U.S.C. 1817) is amended— (1) in subsection (a)(4), by inserting "the Trust Territory of the Pacific Islands," after "American Samoa,"; and (2) in subsection (b)(SKB), by inserting "the Trust Territory of the Pacific Islands," after "American Samoa,". (c) Section ll(a)(2)(A)(iv) of such Act (12 U.S.C. 1821(a)(2)(A)(iv)) is amended— (1) by inserting "of the Trust Territory of the Pacific Islands," after "of American Samoa,"; and (2) by inserting "the Trust Territory of the Pacific Islands," after "Virgin Islands, American Samoa,". Mortgage Purchase Amendments of 1981.

12 USC 1451 "°^^-

TITLE II-MORTGAGE PURCHASE AMENDMENTS OF 1981 SHORT TITLE

SEC. 201. This title may be cited as the "Mortgage Purchase Amendments of 1981". PURCHASES OF MORTGAGES MORE THAN ONE YEAR OLD

12 USC 1454 "°^-

SEC. 202. (a) The third sentence of section 305(a)(2) of the Federal Home Loan Mortgage Corporation Act (12 U.S.C. 1454(a)(2)) is amended to read as follows: "The Corporation may purchase a conventional mortgage which was originated more than one year prior to the purchase date only if the seller is the Federal Deposit Insurance Corporation, the Federal Savings and Loan Insurance Corporation, the National Credit Union Administration, or any other seller currently engaged in mortgage lending or investing activities.". (b)(l) Section 305(a)(2) of the Federal Home Loan Mortgage Corporation Act (12 U.S.C. 1454(a)(2)) is amended by inserting after the third sentence thereof the following: "With respect to any transaction in which a seller contemporaneously sells mortgages originated more than one year old prior to the date of sale to the Corporation and receives in payment for such mortgages securities representing undivided interests only in those mortgages, the Corporation shall not impose any fee or charge upon an eligible seller which is not a member of a Federal Home Loan Bank which differs from that imposed upon an eligible seller which is such a member.". (2) The amendment made by paragraph (1) shall take effect on January 1, 1982, and shall apply to commitments entered into on or after such date. (c) The fourth sentence of section 302(bK2) of the Federal National Mortgage Association Charter Act (12 U.S.C. 1717(b)(2)) is amended to read as follows: "The Corporation may purchase a conventional mortgage which was originated more than one year prior to the purchase date only if the seller is the Federal Deposit Insurance Corporation, the Federal Savings and Loan Insurance Corporation, the National Credit Union Administration, or any other seller currently engaged in mortgage lending or investing activities.".

�