Complex sentence: Authorizes the FHA to insure up to $300 billion of 30 year fixed rate refinance loans up to 90% of appraised value for distressed borrowers for mortgage commitments on or after October 1,2008 through September 30,2011.
Split into simpler sentences: Authorizes the FHA to insure up to $300 billion of 30 year fixed rate refinance loans up to 90% of appraised value for distressed borrowers. It covers mortgage commitments made on or after October 1,2008 through September 30,2011.