Economic Development National Mortgage Association Act

[AI summary unavailable — showing source text] Economic Development National Mortgage Association Act - Establishes the Economic Development National Mortgage Association which is authorized to purchase, make commitments to purchase, hold, deal with, and sell certain kinds of industrial mortgages from any qualified financial institution. Directs the Association to: (1) establish criteria for determining the eligibility of financial institutions to be certified to originate, sell, and service industrial mortgages; and (2) receive applications for certification. Permits the Association to issue and sell securities based upon such mortgages as it may set aside.…