(a) The agency shall specify the percentage of the outstanding principal indebtedness that may be insured under this part with respect to each category of loan authorized to be insured under this part.
(b) The agency may insure loans secured by mortgages or deeds of trust of first or second priority.
(Amended by Stats. 2003, Ch. 553, Sec. 11. Effective January 1, 2004.)