12 U.S.C. § 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 .)

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