APPLICABILITY WITH RESPECT TO LOAN MODIFICATIONS.

SEC. 7002. APPLICABILITY WITH RESPECT TO LOAN MODIFICATIONS. Section 109(a) of the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5219(a)) is amended—(1) by striking “To the extent” and inserting the following:“(1) In general.—To the extent”; and(2) by adding at the end the following:“(2) Waiver of certain provisions in connection with loan modifications.—The Secretary shall not be required to apply executive compensation restrictions under section 111, or to receive warrants or debt instruments under section 113, solely in connection with any loan modification under this section.”.