Sec. 2. Purchase and securitization of insured loans for the construction of accessory dwelling units
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Except as provided in subsection (b), the Director of the Federal Housing Finance Agency (hereafter referred to as the Director ) shall permit the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation to purchase and securitize loans that are insured under section 259 of the National Housing Act. The Director may prohibit the purchase and securitization of loans that are insured under section 259 of the National Housing Act— if there are market pressures which would pose an excessive and unmitigable risk to the lending market for such loans, as determined by the Director; and beginning on the date that the Director submits to the Congress a written notice with respect to such prohibition.
The Director shall include in the annual report required under section 1319B(a) of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 ( 12 U.S.C. 4521(a) ) information with respect to the purchase and securitization of loans that are insured under section 259 of the National Housing Act.
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Sec. 2
Purchase and securitization of insured loans for the construction of accessory dwelling units
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