guarantee authority

guarantee authority Sec. 203. Section 313(d)(1) of the National Housing Act is amended— (1) by striking out “purchased” in the first sentence and inserting “eligible for purchase” in lieu thereof; and 89 STAT. 255 (2) by inserting after the first sentence the following: “Such securities shall bear interest at a rate equal to the rate on the underlying mortgages less an allowance for servicing and other expenses as approved by the Association.”.