Government National Mortgage Association

Government National Mortgage Association emergency mortgage purchase assistance The total amount of purchases and commitments authorized to be made pursuant to section 313 of the National Housing Act, as amended (12 U.S.C. 1723e; 88 Stat. 1364; Public Law 94–50), shall not exceed $5,000,000,000 outstanding at any one time, which amount shall be in addition to balances or authorization heretofore made available for purchases and commitments pursuant to said section and which shall continue available after October 18, 1975: Provided, That the Association may borrow from the Secretary of the Treasury in accordance with said section, in such amounts as are necessary to carry out the purposes and requirements of said section as authorized herein. payment of participation sales insufficiencies For the payment of such insufficiencies as may be required by the Government National Mortgage Association, as trustee, on account of outstanding beneficial interests or participations in assets of the Department of Housing and Urban Development (including the Government National Mortgage Association) authorized by the Independent Offices and Department of Housing and Urban Development Appropriation Act, 1968, to be issued pursuant to section 302(c) of the Federal National Mortgage Association Charter Act, as amended, $20,935,000. For “Payment of participation sales insufficiencies” for the period July 1, 1976, through September 30, 1976, $5,291,000.