Pub. L. 86-372, tit. III, sec. 301

Sec. 301. Clause (3) of section 302(b) of the National Housing Act is amended to read as follows: “(3) the Association may not purchase any mortgage, except a mortgage insured under section 220 or 803, or a mortgage covering property located in Alaska, Guam, or Hawaii, if the original principal obligation thereof exceeds or exceeded $17,500 for each family residence or dwelling unit covered by the mortgage: Provided, That with respect to mortgages purchased under section 304 the principal obligation shall not exceed $20,000”.