INTEREST RATE REQUIREMENTS FOR VENDEE LOANS.

SEC. 301. INTEREST RATE REQUIREMENTS FOR VENDEE LOANS.Section 1833(a) is amended by adding at the end the following new paragraph: “(7) The Administrator shall make a loan to finance the sale of real property described in paragraph (1) of this subsection at an interest rate that is lower than the prevailing mortgage market interest rate in areas where, and to the extent, the Administrator determines, in light of prevailing conditions in the real estate market involved, that such lower interest rate is necessary in order to market the property competitively and is in the interest of the long-term stability and solvency of the Veterans’ Administration Loan Guaranty Revolving Fund established by section 1824(a) of this title.”.