Pub. L. 82-139, tit. VI, sec. 607

Sec. 607. Title II of the National Housing Act, as amended, is hereby amended by adding at the end thereof the following new sections: “waiver of occupancy requirements for servicemen “Sec. 216. The Commissioner is hereby authorized to insure any mortgage otherwise eligible for insurance under any of the provisions of this Act without regard to any requirement that the mortgagor be the occupant of the property at the time of insurance, where the Commissioner is satisfied that the inability of the mortgagor to occupy the property is by reason of his entry into military service subsequent to the filing of an application for insurance and the mortgagor expresses an intent to occupy the property upon his discharge from military service. “general mortgage insurance authorization “Sec. 217. Notwithstanding limitations contained in any other section of this Act on the aggregate amount of principal obligations of mortgages which may be insured under any title of this Act, such aggregate amount shall, with respect to any title of this Act (except title VI) be prescribed by the President, taking into consideration the needs of national defense and the effect of additional mortgage insurance authorizations upon conditions in the building industry and upon the national economy: Provided, That the aggregate dollar amount of the mortgage insurance authorization prescribed by the President with respect to title IX of this Act plus the aggregate dollar amount of all increases in mortgage insurance authorizations under other titles of this Act prescribed by the President pursuant to authority contained in this section shall not exceed $1,500,000,000.”