mortgage insurance

section 220 mortgage insurance Sec. 109. (a) (1) Clause (i) of subsection (d)(3) (A) of section 220 of the National Housing Act is amended by striking out all that precedes the second semicolon and inserting in lieu thereof the following: “(A) (i) 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 $22,500 in the case of property upon which there is located a dwelling designed principally for a one-family residence; or $25,000 in the case of a two-family residence; or $30,000 in the case of a three-family residence”. (2) Clause (i) of subsection (d) (3) (A) of section 220 of such Act is further amended— (A) by striking out “85 per centum” and inserting in lieu there-of “90 per centum”; and (B) by striking out “$16,000” each place it appears and inserting in lieu thereof “$18,000”. (3) Subsection (d) (3) (A) (ii) of section 220 of such Act is amended by inserting before the semicolon at the end thereof a colon and the following: “Provided, That such 85 per centum limitation shall not be applicable if the mortgagor and mortgagee assume responsibility in a manner satisfactory to the Commissioner for the reduction of the 73 Stat. 658 mortgage by an amount not less than 15 per centum of the outstanding principal amount thereof in the event the mortgaged property is not, prior to the due date of the eighteenth amortization payment of the mortgage, sold to a purchaser acceptable to the Commissioner who is the occupant of the property and who assumes and agrees to pay the mortgage indebtedness”. (b) Subsection (d) (3) (B) (i) of section 220 of such Act is amended by striking out “$12,500,000” and inserting in lieu thereof “$20,-000,000”. (c) Subsection (d) (3) (B) (iii) of section 220 of such Act is amended— (1) by striking out “$2,250” each place it appears and inserting lieu thereof “$2,500”; (2) by striking out “$8,100” each place it appears and inserting in lieu thereof “$9,000”; (3) by striking out “$2,700” and inserting in lieu thereof “$3,000”; (4) by striking out “$8,400” and inserting in lieu thereof “$9,400”; and (5) by striking out “$1,000” and inserting in lieu thereof “$1,250”. (d) Subsection (d) (3) (B) (iii) of section 220 of such Act is further amended by inserting after “dwelling use” the following: “(excluding exterior land improvements as defined by the Commissioner) (e) Subsection (d)(3)(B) of section 220 of such Act is further amended by striking out “and” at the end of clause (ii), by striking out the period at the end of clause (iii) and inserting in lieu thereof “; and”, and by adding at the end thereof the following new clause: “(iv) include such nondwelling facilities as the Commissioner deems adequate to serve the needs of the occupants of the property and of other housing in the neighborhood.”