Pub. L. 84-1020, tit. II, sec. 201

Sec. 201. Section 302 (b) of the National Housing Act is amended— (1) by striking out “and (2)” and inserting in lieu thereof “(2)”; (2) by striking out “if (i)” and inserting in lieu thereof “if”; and (3) by striking out “or (ii) the original principal obligation thereof exceeds or exceeded $15,000 for each family residence or dwelling unit covered by the mortgage” and inserting in lieu thereof “; and (3) the Association may not purchase any mortgage, except a mortgage insured under section 803 or a mortgage covering property located in Alaska, Guam, or Hawaii, if the original principal obligation thereof exceeds or exceeded $15,000 for each family residence or dwelling unit covered by the mortgage”.