Pub. L. 85-104, tit. I, sec. 103

Sec. 103. Section 222 (b) of the National Housing Act is amended to read as follows: “(b) To be eligible for insurance under this section a mortgage shall— “(1) meet the requirements of section 203 (b) except as such requirements are modified by this section; “(2) involve a principal obligation (including such initial service charges, appraisal, inspection, and other fees as the Commissioner shall approve) in an amount not to exceed $17,100; “(3) have a principal obligation in an amount not in excess of 95 per centum of the appraised value of the property or such higher amount as may be derived by applying the maximum ratio of loan to value prescribed in section 203 (b) (2); and “(4) be executed by a mortgagor who at the time of application for insurance is certified as a ‘serviceman’ and who at the time of insurance is the owner of the property and either occupies the property or certifies that his failure to do so is the result of his military assignment, or, in the case of the United States Coast Guard, other assignment.”.