Federally Assisted Mortgage Loans

When a housing development or housing unit is financed by an Agency mortgage loan, which Agency mortgage loan, in whole or in part, is a federally insured mortgage or is otherwise assisted or aided, directly or indirectly, by the Federal government, the Agency’s action in authorizing such an Agency mortgage loan shall have the effect of adopting as the Agency’s rules and regulations as to the housing development or housing unit financed by such Agency mortgage loan, or the part thereof which is assisted or aided by the Federal government as aforesaid, rules and regulations provided in the Federal government program pursuant to which the Agency mortgage loan or part thereof is asisted or aided by the Federal government as aforesaid, to the extent not inconsistent with the provisions of the Act, including particularly rules and regulations as to the income limitations for initial occupancy of the subject housing development, housing unit or part thereof, but only to extent that any provision of these Rules and Regulations is consistent with the provisions of such Federal Rules and Regulations.