fha conforming amendments

fha conforming amendments Sec. 1108. (a) Section 2(f) of the National Housing Act is amended by striking out all that follows the first sentence. (b) Section 8 of such Act is amended— (1) by striking out “Title I Housing Insurance Fund” in subsection (g) and inserting in lieu thereof “General Insurance Fund”;and (2) by striking out subsections (h) and (i). (c) Section 203 (k) of such Act is amended— (1) by striking out “a separate section 203 Home Improvement Account to be maintained as hereinafter provided under the Mutual Mortgage Insurance Fund” in clause (3) of the first sentence and inserting in lieu thereof “the General Insurance Fund”; (2) by striking out “the section 203 Home Improvement Account or in debentures executed in the name of such Account” in clause (4) of the first sentence and inserting in lieu thereof “the General Insurance Fund or in debentures executed in the name of such Fund”; (3) by striking out all of the third sentence which follows “refer to this section 203 (k)” and inserting in lieu thereof a period; and (4) by striking out the fourth, fifth, and sixth sentences. (d) Section 204 of such Act is amended— (1) by striking out “or section 210” in the first sentence of subsection (a); (2) by striking out all of the second sentence of subsection (c) after “the mortgagee” and inserting in lieu thereof “from the Mutual Mortgage Insurance Fund.”; (3) by striking out all of the first sentence of subsection (d) after “shall be negotiable” the first place it appears and inserting in lieu thereof a period; (4) by striking out “the Fund” each place it appears in subsection (d) and inserting in lieu thereof “the Mutual Mortgage Insurance Fund”; (5) by striking out “or the Housing Fund, as the case may be,” in the fifth sentence of subsection (d) j (6) by striking out “or the Housing Fund” in the sixth sentence of subsection (d); and (7) by striking out the matter in subsection (f)(1)(i) which follows “section 203” and precedes the colon. (e) Section 207 of such Act is amended— (1) by striking out “and section 210” in the first sentence of subsection (d); (2) by striking out “of the Housing Insurance Fund issued by the Commissioner under this title” in the first sentence of subsection (d) and inserting in lieu thereof the following: “issued by the Commissioner under any title and section of this Act, except debentures of the Mutual Mortgage Insurance Fund, or of the Cooperative Management Housing Insurance Fund”; (3) by striking out subsections (f), (m), and (p); and (4) by striking out “the Housing Insurance Fund” and “the Housing Fund” each place they appear in subsections (b), (h), (i), (1), (Mi and (1) and inserting in lieu thereof “the General insurance Fund”. (f) Section 209 of such Act is amended by striking out “or account or accounts,” in the second sentence. 79 Stat. 505 (g) Section 213 of such Act is amended— (1) by striking out “the Housing Fund” in subsection (a)(3) and inserting in lieu thereof “the Cooperative Management Housing Insurance Fund”; and (2) by striking out “(1), (in), (n), and (p)” in subsection (e) and inserting in lieu thereof “(1), and (n)”. (h) Section 220 of such Act is amended— (1) by striking out “the section 220 Housing Insurance Fund” each place it appears in subsections (d)(2) and (f) and inserting in lieu thereof “the General Insurance Fund”; (2) by inserting “and” immediately before “(B) #x201D; in the second full sentence in subsection (f)(3), and by striking out “, and (C) ” and all that follows in such sentence and inserting in lieu thereof a period; (3) by striking out subsections (g) and (h)(4); and (4) by striking out “the section 220 Home Improvement Account” each place it appears in subsections (h)(5) and (h)(7) and inserting in lieu thereof “the General Insurance Fund”. (i) Section 221 of such Act is amended— (1) by striking out “the section 221 Housing Insurance Fund” each place it appears in subsections (d)(4), (f), (g)(1), and (g)(3) and inserting in lieu thereof “the General Insurance Fund”; (2) by striking out all of subsection (g)(2) after “mortgages insured under this section” and inserting in lieu thereof “; or”; (3) by inserting “and” immediately before “(B)” in the first full sentence in subsection (g)(3), and by striking out “, and (C)” and all that follows in such sentence and inserting in lieu thereof a period; and (4) by striking out subsection (h). (j) Section 222 of such Act is amended— (1) by striking out “Servicemen’s Mortgage Insurance Fund” in subsection (e) and inserting in lieu thereof “General Insurance Fund”;and (2) by striking out subsection (f). (k) Section 229 of such Act is amended by striking out “and Accounts” in the first sentence. (l) Section 231 of such Act is amended— (1) by striking out “the section 207 Housing Insurance Fund” in subsection (c)(4) and inserting in lieu thereof “the General Insurance Fund”; and (2) by striking out “(f), (g), (h), (i), (j), (k), (l), (m), (n), and (p)” in subsection (e) and inserting in lieu thereof “(g), (h), (i),(j),(k),(n,and (n)”. (m) Section 232 of such Act is amended— (1) by striking out “the section 207 Housing Insurance Fund” in subsection (d)(1) and inserting in lieu thereof “the General Insurance Fund”; and (2) by striking out “(f), (g), (h), (i), (j), (k), (l), (m), (n), and (p) ” in subsection (f) and inserting in lieu thereof “(g), (h),(i),(f),(k),(l),and(n)”. (n) Section 233 of such Act is amended— (1) by striking out “the Experimental Housing Insurance Fund” in clause (1) of the third sentence of subsection (f) and inserting in lieu thereof “the General Insurance Fund”; (2) by inserting “and” immediately before “(2)” in the third sentence of subsection (f). and by striking out “, and (3) ” and all that follows and inserting in lieu thereof a period; and (3) by striking out subsection (g). 79 Stat. 506 (o) Section 234 of such Act is amended— (1) by striking out “the Apartment Unit Insurance Fund” in subsections (d)(2) and (g) and inserting in lieu thereof “the General Insurance Fund”; (2) by striking out subsection (h) and inserting in lieu thereof the following: “(h) The provisions of subsections (d), (e), (g), (h), (i), (j), (k), (l), and (n) of section 207 shall be applicable to mortgages insured under subsection (d) of this section.”; and (3) by striking out subsection (i) and redesignating subsection (j) as subsection (i). (p) Section 604 of such Act is amended by striking out “the War Housing Insurance Fund” each place it appears in subsections (c), (d), and (f)(1)(i) and inserting in lieu thereof “the General Insurance Fund”. (q) Section 608 of such Act is amended— (1) by striking out “the War Housing Insurance Fund” each {dace it appears in subsections (b)(1) and (d) and inserting in lieu thereof “the General Insurance Fund”; and (2) by striking out subsection (f) and inserting in lieu thereof the following: “(f) The provisions of section 207 (k) of this Act shall be applicable to mortgages insured under this section, except that, as applied to such mortgages, the reference therein to subsection (g) shall be construed to refer to subsection (c) of this sect ion.” (r) The first sentence of section 609(f) of such Act is amended by striking out clause (1) and redesignating clauses (2), (3), and (4) as clauses (1), (2),and (8),respectively. (s) Section 707 of such Act is amended by striking out “the Housing Investment Insurance Fund” and inserting in lieu thereof “the General Insurance Fund”. (t) Section 708 of such Act is amended by striking out “the Housing Investment. Insurance Fund” each place it appears in subsections (c), (e), (g), and (h) and inserting in lieu thereof “the General Insurance Fund”. (u) Section 803 of such Act is amended— (1) by striking out “the Armed Services Housing Mortgage Insurance Fund” each place it appears in subsections (b)(1), (b)(2), (e), (f), and (g) and inserting in lieu thereof “the General Insurance Fund”; and (2) by striking out subsection (h) and inserting in lieu thereof the following “(h) The provisions of section 207(k) and section 207(1) of this Act shall be applicable to mortgages insured under this title and to property acquired by the Commissioner hereunder, except that, as applied to such mortgages and property, the reference in section 207 (k) to subsection (g) shall be construed to refer to subsection (d) of this section.” : (v) Section 809 of such Act is amended by striking out ‘The Armed Services Housing Mortgage Insurance Fund” each place it appears in subsections (b), (e), and (g) and inserting in lieu thereof “the General Insurance Fund”. (w) Section 810 of such Act is amended— (1) by striking out “the Armed Services Housing Mortgage Insurance Fund” in subsection (e) and inserting in lieu thereof “the General Insurance Fund”; (2) by striking out “(1), (m), (n), and (p)” in subsection (j) and inserting in lieu thereof “(1), and (n)”; and 79 Stat. 507 (3) by striking out the proviso in subsection (j) and inserting in lieu thereof the following: “: Provided, That wherever the words ‘Fund’ or ‘Mutual Mortgage Insurance Fund’ appear in section 204, such reference shall refer to the General Insurance Fund with respect to mortgages insured under this section ”. (x) Section 903 of such Act is amended by striking out “the National Defense Housing Insurance Fund” each place it appears in subsection (a) and inserting in lieu thereof “the General Insurance Fund”. (y) Section 904 of such Act is amended— (1) by striking out “the National Defense Housing Insurance Fund” each place it appears in subsections (c) and (d) and inserting in lieu thereof “the General Insurance Fund”; and (2) by striking out all of subsection (e) which follows “of this Act” and inserting in lieu thereof a period. (z) Section 908 of such Act is amended— (1) by striking out “the National Defense Housing Insurance Fund” in subsection (b)(1) and inserting in lieu thereof “the General Insurance Fund”; (2) by striking out all of subsection (d) which follows “of this Act” and inserting in lieu thereof a period; and (3) by striking out subsection (f) and inserting in lieu thereof the following: “(f) The provisions of section 207(k) and section 207(1) of this Act shall be applicable to mortgages insured under this section and to property acquired by the Commissioner hereunder, except that, as applied to such mortgages and property, the reference therein to subsection (g) shall lie construed to refer to subsection (c) of this section.” (aa) Sections 219, 602, 605, 710, 802, 804, 902, and 905 of such Act are repealed. (bb) Section 1 of such Act is amended by striking out “titles II, III, VI, VII, VIII, and IX”, each place it appeal’s, and inserting in lieu thereof “titles II, III, V, VI, VII, VIII, IX, and X”.