§ 1735f–6.
Secondary mortgages held by State or local governmental agency on insured properties
In carrying out the provisions of subchapter II of this chapter with respect to insuring mortgages secured by a one- to four-family dwelling unit, the Secretary may not deny such insurance for any such mortgage solely because the dwelling unit which secures such mortgage will be subject to a secondary mortgage or loan made or insured, or other secondary lien held, by any State or local governmental agency or instrumentality under terms and conditions approved by the Secretary.
([June 27, 1934, ch. 847], title V, § 528, as added [Pub. L. 95–557, title III, § 323], Oct. 31, 1978, [92 Stat. 2102].)