MORTGAGEE REVIEW BOARD.

SEC. 518. MORTGAGEE REVIEW BOARD.Section 202(c)(3)(C) of the National Housing Act (12 U.S.C. 1708(c)(3)(C)) is amended— (1) by inserting “temporarily” after “order”; (2) by inserting “(i)” after “Administration if”; (3) by inserting “(ii)” after “violations and”; and (4) by striking the period after “6 months” and inserting the following: “, and for not longer than 1 year. The Board may extend the suspension for an additional 6 months if it determines the extension is in the public interest. If the Board and the mortgagee agree, these time limits may be extended.”.