Special rules

(A) Notwithstanding paragraph (1), a savings association may make loans to one borrower under one of the following clauses: (i) For any purpose, not to exceed $500,000. (ii) To develop domestic residential housing units, not to exceed the lesser of $30,000,000 or 30 percent of the savings association’s unimpaired capital and unimpaired surplus, if— (I) the savings association is and continues to be in compliance with the fully phased-in capital standards prescribed under subsection (t); (II) the appropriate Federal banking agency, by order, permits the savings association to avail itself of the higher limit provided by this clause; (III) loans made under this clause to all borrowers do not, in aggregate, exceed 150 percent of the savings association’s unimpaired capital and unimpaired surplus; and (IV) such loans comply with all applicable loan-to-value requirements.

(B) A savings association’s loans to one borrower to finance the sale of real property acquired in satisfaction of debts previously contracted in good faith shall not exceed 50 percent of the savings association’s unimpaired capital and unimpaired surplus.