Sec. 5. Prohibitions on federal mortgage assistance
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Subpart A of part 2 of subtitle A of title XIII of the Housing and Community Development Act of 1992 ( 12 U.S.C. 4541 et seq. ) is amended by adding at the end the following new section: The Director shall, by regulation, prohibit the enterprises from newly purchasing any mortgage on a single-family housing or any portion thereof (or any interest in such a mortgage), and from newly lending on the security of or securitizing any such mortgage under which the mortgagee is a specified large investor (as such term is defined in section 280I of the Internal Revenue Code of 1986). .
Section 302(c) of the National Housing Act ( 12 U.S.C. 1717(c) ) is amended by adding at the end the following new paragraph: The Association may not newly guarantee the payment of principal of or interest on any trust certificate or other security based or backed by a trust or pool that contains, or purchase or acquire, any mortgage under which the mortgagee is a specified large investor (as such term is defined in section 280I of the Internal Revenue Code of 1986). .
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