Modifications of section 143
Under regulations prescribed by the Secretary, in applying section 143 for purposes of subclauses (II), (IV), and (V) of subparagraph (A)(iii)—
(i)#
each qualified mortgage certificate credit program shall be treated as a separate issue,
(ii)#
the product determined by multiplying—
(I) the certified indebtedness amount of each mortgage credit certificate issued under such program, by
(II) the certificate credit rate specified in such certificate,
(ii)(I)#
the certified indebtedness amount of each mortgage credit certificate issued under such program, by
(ii)(II)#
the certificate credit rate specified in such certificate,
(iii)#
paragraph (1) of section 143(d) shall be applied by substituting “100 percent” for “95 percent or more”.
Clause (iii) shall not apply if the issuing authority submits a plan to the Secretary for administering the 95-percent requirement of section 143(d)(1) and the Secretary is satisfied that such requirement will be met under such plan.