AUTHORITY FOR INCREASED PROCUREMENT OF SERVICES THROUGH THE LOAN GUARANTY REVOLVING FUND.

SEC. 303. AUTHORITY FOR INCREASED PROCUREMENT OF SERVICES THROUGH THE LOAN GUARANTY REVOLVING FUND.Section 1824 is amended by adding at the end the following new subsection: “(e) (1) Notwithstanding subsection (b) of this section, the Fund shall be available to the Administrator, to such extent as is or in such amounts as are provided for in appropriation Acts and subject to paragraph (3) of this subsection, for— “(A) contracts for the performance of such supplementary services described in paragraph (2) of this subsection for which the Administrator is otherwise authorized to contract; and “(B) the acquisition of such supplementary equipment described in such paragraph, (not including services or equipment for which the Fund is available under subsection (b) of this section), as the Administrator determines would assist in ensuring the long-term stability and solvency of the Fund. “(2) The supplementary services and equipment referred to in paragraph (1) of this subsection are services or equipment not performed or available during fiscal year 1988, or services in excess of the level of such services performed during fiscal year 1988, and may include, among other things, the services of— “(A) appraisers to review appraisal reports and issue certificates of reasonable value; “(B) loan-servicing companies and individuals to perform personal supplemental servicing of loans guaranteed, insured, or made under this chapter; “(C) accounting firms to conduct on-site audits of lenders making such loans and to review lender submissions regarding such loans; “(D) real estate brokers to promote the sale of real property acquired by the Administrator as the result of a default on a loan guaranteed, insured, or made under this chapter; “(E) contractors to review loan documents in order to achieve compliance with Veterans’ Administration requirements under this chapter and to issue guaranty certifications; “(F) contractors to list for sale in local newspapers real property acquired by the Administrator as the result of a default on a loan guaranteed, insured, or made under this chapter; “(G) contractors to prepare closing documents and review them after closing; and “(H) contractors to provide automated data processing equipment, supplies, services, and software for carrying out the program administered under this chapter. “(3) The Administrator may not in any fiscal year obligate more than $25,000,000 for services or equipment under this subsection.”.