INSURANCE AUTHORITY FOR FHA.

SEC. 401. INSURANCE AUTHORITY FOR FHA. (a) Repeals.— Each of the following provisions of law is repealed: (1) Section 217 of the National Housing Act. (2) The fifth sentence of section 221(0 of the National Housing Act. (3) Section 244(d), and the last sentence of section 244(h), of the National Housing Act. (4) The last sentence of section 245(a) of the National Housing Act. (5) The second sentence of section 809(0 of the National Housing Act. (6) The second sentence of section 810(k) of the National Housing Act. (7) The second sentence of section 1002(a) of the National Housing Act. (8) The second sentence of section 1101(a) of the National Housing Act. (b) Amendment.— The first sentence of section 2(a) of the National Housing Act is amended by striking “and not later than March 15, 1988,”. (c) Extension of Section 235.— The last sentence of section 235(h)(1), section 235(m), and the last sentence of section 235(q)(1), of 101 STAT. 1899the National Housing Act are each amended by striking out “March 15, 1988” and inserting in lieu thereof “September 30, 1989”. (d) Termination of Section 235.— (1) In general.— Effective on October 1, 1989, the program under section 235 of the National Housing Act shall terminate. (2) Savings provision.— The provisions of paragraph (1) shall not affect— (A) any mortgage insurance commitment issued; or (B) any assistance pursuant to a reservation of funds made; under section 235 of the National Housing Act prior to October 1, 1989.