REVISION IN COMPUTATION OF AGGREGATE GUARANTY.

SEC. 902. REVISION IN COMPUTATION OF AGGREGATE GUARANTY. Section 3702(b) is amended— (1) in the matter preceding paragraph (1), by striking out “loan, if—”and inserting in lieu thereof loan under the following circumstances:”; (2) in paragraph (1)— (A) by striking out “the property” at the beginning of subparagraph (A) and inserting in lieu thereof “The property”; (B) by striking out the semicolon at the end and inserting in lieu thereof a period; (3) in paragraph (2)— (A) by striking out “a veteran-transferee” at the beginning and inserting in lieu thereof “A veteran-transferee”; (B) by striking out “; or” at the end and inserting in lieu thereof a period; (4) in paragraph (3), by striking out “the loan” at the beginning of subparagraph (A) and inserting in lieu thereof “The loan”; (5) by inserting after paragraph (3) the following new paragraph: “(4) In a case not covered by paragraph (1) or (2)— “(A) the loan has been repaid in full and, if the Secretary has suffered a loss on the loan, the loss has been paid in full; or “(B) the Secretary has been released from liability as to the loan and, if the Secretary has suffered a loss on the loan, the loss has been paid in full.”; (6) in the last sentence, by striking out “clause (1) of the preceding sentence” and inserting in lieu thereof “paragraph (1)”; and (7) by adding at the end the following new sentence: “The authority of the Secretary under this subsection to exclude an amount of guaranty or insurance housing loan entitlement previously used by a veteran may be exercised only once for that veteran under the authority of paragraph (4).”.