Page:United States Statutes at Large Volume 95.djvu/440

 95 STAT. 414

12 USC 1707.

PUBLIC LAW 97-35—AUG. 13, 1981 Government National Mortgage Association may enter into such commitments only with respect to multifamily projects for which firm commitments for mortgage insurance under title II of the National Housing Act have been issued. (2) The Secretary of Housing and Urban Development shall continue to process applications for mortgage insurance for multifamily projects under title II of the National Housing Act for a period of at least 90 days beginning on October 1, 1981. GENERAL INSURANCE FUND

94 Stat. 1639. 12 USC 1735c.

SEC. 334. Section 519(f) of the National Housing Act is amended by inserting the following before the period at the end thereof: ", which amount shall be increased by $126,673,000 on October 1, 1981". LIMITATION ON INSURANCE AUTHORITY

SEC. 335. Title V of the National Housing Act is amended by adding the following new section at the end thereof: "LIMITATION ON INSURANCE AUTHORITY

12 USC i735f-9.

"SEC. 531. During fiscal year 1982, the Secretary may not enter into commitments to insure under this Act loans and mortgages with an aggregate principal amount in excess of $41,000,000,000.". HOUSING FOR THE ELDERLY

12 USC l70iq.

SEC. 336. Section 202(a)(4)(C) of the Housing Act of 1959 is amended by inserting the following before the period at the end of the second sentence:, and not more than $850,848,000 may be approved in appropriation Acts for such loans with respect to fiscal year 1982". RESEARCH AUTHORIZATIONS

94 Stat. 1639.

12 USC

1701Z-1.

SEC. 337. The second sentence of section 501 of the Housing and Urban Development Act of 1970 is amended by striking out "and not to exceed $51,000,000 for the fiscal year 1981 and inserting in lieu thereof "not to exceed $51,000,000 for the fiscal year 1981, and not to exceed $35,000,000 for the fiscal year 1982". PROPERTY IMPROVEMENT AND MANUFACTURED HOME LOANS

Insurance to financial institutions. 12 USC 1703.

SEC. 338. (a) Section 2(b) of the National Housing Act is amended to read as follows: "(b)(1) No insurance shall be granted under this section to any such financial institution with respect to any obligation representing any such loan, advance of credit, or purchase by it if the amount of such loan, advance of credit, or purchase exceeds— "(A) $17,500 ($20,000 where financing the installation of a solar energy system is involved) if made for the purpose of financing alterations, repairs and improvements upon or in connection with existing single-family structures or manufactured homes; "(B) $43,750 or an average amount of $8,750 per family unit ($50,000 and $10,000, respectively, where financing the installation of a solar energy system is involved) if made for the purpose of financing the alteration, repair, improvement, or conversion of an existing structure used or to be used as an apartment house or a dwelling for two or more families;

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