SEC-427 -- EXEMPTION.


 Eligible property covered by a homeownership program approved under
this subtitle shall not be subject to-

 (1) the Low-Income Housing Preservation and Resident Homeownership Act
of 1990, or

 (2) the requirements of section 203 of the Housing and Community
Development Amendments of 1978 applicable to the sale of projects either
at foreclosure or after acquisition by the Secretary.