MAXIMUM PRINCIPAL OBLIGATION OF MORTGAGES FOR VETERANS.

SEC. 505. MAXIMUM PRINCIPAL OBLIGATION OF MORTGAGES FOR VETERANS. (a) In General.—The first sentence of the last undesignated paragraph of section 203(b)(2) of the National Housing Act (12 r.S.C. 1709(b)(2)) is amended by striking “Notwithstanding any other provision of this paragraph,” and inserting “Except with respect to mortgages executed by mortgagors who are veterans,”. (b) Technical Amendment.—Section 203(b)(9) of the National Housing Act (12 U.S.C. 1709(bX9)) is amended by striking “(except in a case to which the next to the last sentence of paragraph (2) applies)” and inserting “(except with respect to a mortgage executed by a mortgagor who is a veteran)”.