ELIGIBILITY OF RESTRUCTURING PROJECTS FOR MISCELLANEOUS HOUSING INSURANCE.

SEC. 615. ELIGIBILITY OF RESTRUCTURING PROJECTS FOR MISCELLANEOUS HOUSING INSURANCE. Section 223(a)(7) of the National Housing Act (12 U.S.C. 1715n(a)(7)) is amended— (1) by striking “under this Act: Provided, That the principal” and inserting the following: “under this Act, or an existing mortgage held by the Secretary that is subject to a mortgage restructuring and rental assistance sufficiency plan pursuant to the Multifamily Assisted Housing Reform and Affordability Act of 1997 (42 U.S.C. 1437f note), provided that— “(A) the principal”; (2) by striking “except that (A)” and inserting “except that (i)”; (3) by striking “(B)” and inserting “(ii)”; (4) by striking “(C)” and inserting “(iii)”; (5) by striking “(D)” and inserting “(iv)”; (6) by striking “: Provided further, That a mortgage” and inserting the following “; and “(B) a mortgage”; (7) by striking “or” at the end; and (8) by adding at the end the following new subparagraph: “(C) a mortgage that is subject to a mortgage restructuring and rental assistance sufficiency plan pursuant to the Multifamily Assisted Housing Reform and Affordability Act of 1997 (42 U.S.C. 1437f note) and is refinanced under this paragraph may have a term of not more than 30 years; or”.