INCLUSION OF ELIGIBLE RESIDENTIAL PROPERTY UNDER CONSERVATORSHIP.

SEC. 601. INCLUSION OF ELIGIBLE RESIDENTIAL PROPERTY UNDER CONSERVATORSHIP. Section 21A(c)(9) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(c)(9)) is amended— (1) by striking subparagraphs (C) and (D) and inserting the following new subparagraphs: “(C) Corporation.— The term ‘Corporation’ means the Resolution Trust Corporation. “(D) Eligible multifamily housing property.— “(i) Basic definition.— The term ‘eligible multifamily housing property’ means a property consisting of more than 4 dwelling units— “(I) to which the Corporation acquires title either in its corporate capacity or as receiver (including its capacity as the sole owner of a subsidiary corporation of a depository institution under receivership, which subsidiary has as its principal business the ownership of real property), but not in its capacity as an operating conservator; and “(II) that has an appraised value that does not exceed the applicable dollar amount set forth in section 221(d)(3)(ii) of the National Housing Act for elevator-type structures (without regard to any increase of such amount for high-cost areas), “(ii) Expanded definition.— Notwithstanding clause (i), to the extent or in such amounts as are provided in appropriations Acts for additional costs and losses to the Corporation resulting from this clause taking effect, the term ‘eligible multifamily housing property’ shall mean a property consisting of more than 4 dwelling units— “(I) to which the Corporation acquires title in its corporate capacity, its capacity as conservator, or its capacity as receiver (including its capacity as the sole owner of a subsidiary corporation of a depository institution under conservatorship or receivership, which subsidiary has as its principal business the ownership of real property); and “(II) that has an appraised value that does not exceed the applicable dollar amount set forth in section 221(d)(3)(ii) of the National Housing Act for elevator-type structures (without regard to any increase of such amount for high-cost areas).”; and (2) by striking subparagraph (F) and inserting the following new subparagraph: “(F) Eligible single family property.— The term ‘eligible single family property’ means a 1- to 4-family residence (including a manufactured home)— “(I) to which the Corporation acquires title in its corporate capacity, its capacity as conservator, or its capacity as receiver (including its capacity as the sole owner of a subsidiary corporation of a105 STAT. 1779 depository institution under conservatorship or receivership, which subsidiary has as its principal business the ownership of real property); and “(II) that has an appraised value that does not exceed the applicable dollar amount set forth in the first sentence of section 208(b)(2) of the National Housing Act (without regard to any increase of such amount for high-cost areas).”.