482 
(1) in clause (ii) of subparagraph (A), by strik-
ing ‘‘$17,500’’ and inserting ‘‘$25,090’’; 
(2) in subparagraph (C) by striking ‘‘$48,600’’ 
and inserting ‘‘$69,678’’; 
(3) in subparagraph (D) by striking ‘‘$64,800’’ 
and inserting ‘‘$92,904’’; 
(4) in subparagraph (E) by striking ‘‘$16,200’’ 
and inserting ‘‘$23,226’’; and 
(5) by realigning subparagraphs (C), (D), and 
(E) 2 ems to the left so that the left margins of such 
subparagraphs are aligned with the margins of sub-
paragraphs (A) and (B). 
(b) ANNUAL INDEXING.—Subsection (b) of section 2 of 
the National Housing Act (12 U.S.C. 1703(b)), as amended 
by the preceding provisions of this title, is further amended 
by adding at the end the following new paragraph: 
‘‘(9) ANNUAL
INDEXING
OF
MANUFACTURED 
HOUSING
LOANS.—The Secretary shall develop a 
method of indexing in order to annually adjust the 
loan limits established in subparagraphs (A)(ii), (C), 
(D), and (E) of this subsection. Such index shall be 
based on the manufactured housing price data col-
lected by the United States Census Bureau. The Sec-
retary shall establish such index no later than 1 year
483 
after the date of the enactment of the FHA Manufac-
tured Housing Loan Modernization Act of 2008.’’ 
(c) TECHNICAL AND CONFORMING CHANGES.—Para-
graph (1) of section 2(b) of the National Housing Act (12 
U.S.C. 1703(b)(1)) is amended— 
(1) by striking ‘‘No’’ and inserting ‘‘Except as 
provided in the last sentence of this paragraph, no’’; 
and 
(2) by adding after and below subparagraph (G) 
the following: 
‘‘The Secretary shall, by regulation, annually increase 
the dollar amount limitations in subparagraphs (A)(ii), 
(C), (D), and (E) (as such limitations may have been pre-
viously adjusted under this sentence) in accordance with the 
index established pursuant to paragraph (9).’’. 
SEC. 2146. INSURANCE PREMIUMS. 
Subsection (f) of section 2 of the National Housing Act 
(12 U.S.C. 1703(f)) is amended— 
(1) by inserting ‘‘(1) PREMIUM
CHARGES.—’’ 
after ‘‘(f)’’; and 
(2) by adding at the end the following new para-
graph: 
‘‘(2) 
MANUFACTURED
HOME
LOANS.—Notwith-
standing paragraph (1), in the case of a loan, advance of 
credit, or purchase in connection with a manufactured
484 
home or a lot on which to place such a home (or both), 
the premium charge for the insurance granted under this 
section shall be paid by the borrower under the loan or ad-
vance of credit, as follows: 
‘‘(A) At the time of the making of the loan, ad-
vance of credit, or purchase, a single premium pay-
ment in an amount not to exceed 2.25 percent of the 
amount of the original insured principal obligation. 
‘‘(B) In addition to the premium under subpara-
graph (A), annual premium payments during the 
term of the loan, advance, or obligation purchased in 
an amount not exceeding 1.0 percent of the remaining 
insured principal balance (excluding the portion of 
the remaining balance attributable to the premium 
collected under subparagraph (A) and without taking 
into account delinquent payments or prepayments). 
‘‘(C) Premium charges under this paragraph 
shall be established in amounts that are sufficient, but 
do not exceed the minimum amounts necessary, to 
maintain a negative credit subsidy for the program 
under this section for insurance of loans, advances of 
credit, or purchases in connection with a manufac-
tured home or a lot on which to place such a home 
(or both), as determined based upon risk to the Fed-
485 
eral Government under existing underwriting require-
ments. 
‘‘(D) The Secretary may increase the limitations 
on premium payments to percentages above those set 
forth in subparagraphs (A) and (B), but only if nec-
essary, and not in excess of the minimum increase 
necessary, to maintain a negative credit subsidy as 
described in subparagraph (C).’’. 
SEC. 2147. TECHNICAL CORRECTIONS. 
(a) DATES.—Subsection (a) of section 2 of the Na-
tional Housing Act (12 U.S.C. 1703(a)) is amended— 
(1) by striking ‘‘on and after July 1, 1939,’’ each 
place such term appears; and 
(2) by striking ‘‘made after the effective date of 
the Housing Act of 1954’’. 
(b) AUTHORITY OF SECRETARY.—Subsection (c) of sec-
tion 2 of the National Housing Act (12 U.S.C. 1703(c)) is 
amended to read as follows: 
‘‘(c) HANDLING AND DISPOSAL OF PROPERTY.— 
‘‘(1) 
AUTHORITY
OF
SECRETARY.—Notwith-
standing any other provision of law, the Secretary 
may— 
‘‘(A) deal with, complete, rent, renovate, 
modernize, insure, or assign or sell at public or 
private sale, or otherwise dispose of, for cash or
486 
credit in the Secretary’s discretion, and upon 
such terms and conditions and for such consider-
ation as the Secretary shall determine to be rea-
sonable, any real or personal property conveyed 
to or otherwise acquired by the Secretary, in 
connection with the payment of insurance here-
tofore or hereafter granted under this title, in-
cluding any evidence of debt, contract, claim, 
personal property, or security assigned to or held 
by him in connection with the payment of insur-
ance heretofore or hereafter granted under this 
section; and 
‘‘(B) pursue to final collection, by way of 
compromise or otherwise, all claims assigned to 
or held by the Secretary and all legal or equi-
table rights accruing to the Secretary in connec-
tion with the payment of such insurance, includ-
ing unpaid insurance premiums owed in connec-
tion with insurance made available by this title. 
‘‘(2) ADVERTISEMENTS
FOR
PROPOSALS.—Sec-
tion 3709 of the Revised Statutes shall not be con-
strued to apply to any contract of hazard insurance 
or to any purchase or contract for services or supplies 
on account of such property if the amount thereof does 
not exceed $25,000.