§ 1430b.
(b)
Exception
An advance made to a State housing finance agency for the purpose of facilitating mortgage lending that benefits individuals and families that meet the income requirements set forth in section 142(d) or 143(f) of title 26, need not be collateralized by a mortgage insured under title II of the National Housing Act [
12 U.S.C. 1707 et seq.] or otherwise, if—
(1)
such advance otherwise meets the requirements of this subsection; and
(2)
such advance meets the requirements of
section 1430(a) of this title, and any real estate collateral for such loan comprises single family or multifamily residential mortgages.
([July 22, 1932, ch. 522, § 10b], as added [May 25, 1935, ch. 150, § 7], [49 Stat. 295]; amended [Pub. L. 101–73, title VII, § 701(b)(1)], (3)(A), Aug. 9, 1989, [103 Stat. 412]; [Pub. L. 102–550, title XIII, § 1392(b)], Oct. 28, 1992, [106 Stat. 4009]; [Pub. L. 110–289, div. A, title II, § 1204(8)], July 30, 2008, [122 Stat. 2786].)