DEBT SETTLEMENT AUTHORITY OF SECRETARY.

SEC. 313. DEBT SETTLEMENT AUTHORITY OF SECRETARY. Section 510(c) of the Housing Act of 1949 is amended to read as follows: “(c) compromise, adjust, reduce, or charge-off claims, and adjust, modify, subordinate, or release the terms of security instruments, leases, contracts, and agreements entered into or administered by the Secretary under this title, as circumstances may require, including the release of borrowers or others obligated on a debt from personal liability with or without payment of any consideration at the time of the compromise, adjustment, reduction, or charge-off of any claim;”.