Sections Explained: (Sec. 114)

SECTION:114

MORTGAGE INSURANCE PREMIUMS
REHABILITATION LOANS
DISCRETIONARY ACTION

MORTGAGE INSURANCE PREMIUMS.

Section 203(c)(2) of the National Housing Act (12 U.S.C. 1709(c)(2)) is amended--

(1) in the matter preceding subparagraph (A), by striking `or of the General Insurance Fund' and all that follows through `section
234(c),,'; and (2) in subparagraph (A)-- (A) by striking `2.25 percent' and inserting `3 percent'; and (B) by striking `2.0 percent' and inserting
`2.75 percent'. 

REHABILITATION LOANS.

Subsection (k) of section 203 of the National  Housing Act (12 U.S.C. 1709(k)) is amended-- (1) in paragraph (1), by striking `on' and all
that follows through `1978'; and (2) in paragraph (5)-- (A) by striking `General Insurance Fund' the first place it appears and inserting `Mutual
Mortgage Insurance Fund'; and (B) in the second sentence, by striking the comma and all that follows through `General Insurance Fund'.

DISCRETIONARY ACTION.

The National Housing Act is amended-- (1) in subsection (e) of section 202 (12  U.S.C. 1708(e))-- (A) in paragraph (3)(B), by striking `section
202(e) of the National Housing Act' and inserting `this subsection'; and (B) by redesignating such subsection as subsection (f); (2) by striking paragraph (4) of section 203(s) (12 U.S.C. 1709(s)(4)) and inserting the following new paragraph: `(4) the Secretary of Agriculture;'; and
(3) by transferring subsection (s) of section 203 (as amended by paragraph (2) of this section) to section 202, inserting such subsection after subsection (d) of section 202, and redesignating such subsection as subsection (e).