Veterans' Home Loan Mortgage Indemnity Act of 1989

[AI summary unavailable — showing source text] Veterans' Home Loan Mortgage Indemnity Act of 1989 - Establishes a Veterans' Mortgage Indemnity Fund. Provides that the Indemnity Fund shall be available to the Secretary of Veterans Affairs for all operations with respect to guaranteed or insured Department of Veterans Affairs housing loans for which fees are collected, other than loans for property which has been disposed of by veterans to purchasers who will assume liability for such loan. Provides that the following sums shall be credited to the Indemnity Fund: (1) all fees collected from such housing loans, other than loans for property which has been disposed of by the veteran to a purchaser who will assume liability for such loan; (2) .25 percent of the original amount of all loans for which a fee is collected for the first three fiscal years beginning with the fiscal year in which such fee is collected; (3) all collections of principal and interest and the proceeds from property held or disposed of with respect to such loans; and (4) all income from investments of the Indemnity Fund that are required to be made by the Secretary of the Treasury in obligations of the United States. Increases the fee for a Department housing l…