Page:United States Statutes at Large Volume 94 Part 2.djvu/379

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PUBLIC LAW 96-000—MMMM. DD, 1980

PUBLIC LAW 96-399—OCT. 8, 1980

94 STAT. 1657

INCREASE IN GOVERNMENT NATIONAL MORTGAGE ASSOCIATION MORTGAGE PURCHASE AUTHORITY

SEC. 338. Section 305(c) of the Federal National Mortgage Association Charter Act is amended by inserting the following before the period at the end thereof: ", and by $900,000,000 on October 1, 1980".

12 USC 1720.

FEDERAL NATIONAL MORTGAGE ASSOCIATION AUTHORITY

SEC. 339. (a)(1) Section 30206X3) of the Federal National Mortgage Association Charter Act is amended to read as follows: "(3) The corporation is authorized, with the approval of the Secretary of Housing and Urban Development, to purchase, service, sell, lend on the security of, and otherwise deal in loans or advances of credit for the purchase and installation of home improvements, including energy conserving improvements or solar energy systems described in the last paragraph of section 2(a) of the National Housing Act and residential energy conservation measures as described in section 210(11) of the National Energy Conservation Policy Act and financed by a public utility in accordance with the requirements of title II of such Act. To be eligible for purchase, any such loan or advance of credit (other than a loan or advance made with respect to energy conserving improvements or solar energy systems or residential energy conservation measures) not insured under title I of the National Housing Act shall be secured by a lien against the property to be improved.". (2) When the Federal National Mortgage Association submits its proposal to the Secretary of Housing and Urban Development to implement the authority granted by the amendment made by paragraph (1), the Secretary of Housing and Urban Development shall, within 75 days, approve such proposal or transmit to the Congress a report explaining why such proposal has not been approved. (b)(1) Section 3020t)) of such Act is amended by adding at the end thereof the following: "(4) The corporation is authorized, with the approval of the Secretary of Housing and Urban Development, to purchase, service, sell, lend on the security of, and otherwise deal in loans or advances of credit secured by mortgages or other liens agsdnst manufactured homes.". (2) When the Federal National Mortgage Association submits its proposal to the Secretary of Housing and Urban Development to implement the authority granted by the amendment made by paragraph (1), the Secretary of Housing and Urban Development shall, within 75 days, approve such proposal or transmit to the Congress a report explaining why such proposal has not been approved.

12 USC 1717.

12 USC 1703. 42 USC 8211. 42 USC 8211.

12 USC 1702. Proposal submittal; report to Congress. 12 USC 1717 note. 12 USC 1717.

Proposal submittal; report to Congress. 12 USC 1717 note.

HOME MORTGAGE DISCLOSURE ACT AMENDMENTS

SEC. 340. (a) Section 304 of the Home Mortgage Disclosure Act of 1975 is amended— (1) by striking out "Office of Management and Budget" in subsection (a)(1) and inserting in lieu thereof "Department of Commerce"; (2) by amending subsection (a)(2)(A) to read as follows: "(A) The number and dollar amount for each item referred to in paragraph (1), by census tracts for mortgage loans secured by property located within any county with a population of more than 30,000, within that standard metropoli-

12 USC 2803.