Mortgage Market Assistance Act

Mortgage Market Assistance Act - Title I: Downpayment Requirements and Maximum Mortgage Amounts Under Federal Housing Administration Programs - Provides for an increase in the downpayment requirements for Federal Housing Administration one-to-four-family mortgages. Increases the maximum mortgage amounts under such programs. Establishes increases in the maximum mortgage amounts under Federal Housing Administration multifamily mortgage insurance programs.

Title II: Lending and Investment Powers, Federal Savings and Loan Associations - Authorizes Federal Savings and Loan Associations to invest an amount, not exceeding the greater of: (1) the sum of its surplus, undivided profits, and reserves; or (2) 5 percent of its assets, in loans or in interests therein the principal purpose of which is to provide financing with respect to what is or is expected to become primarily residential real estate within one hundred miles of their home office or within the State in which such office is located.

Title III: Mortgage Corporations - Provides that no conventional mortgage shall be purchased by the Federal Home Loan Mortgage Corporation if the outstanding principal balance of the mortgage at the time of purchase exceeds 80 percent of the value of the property securing the mortgage. Requires financial institutions to warrant to the Corporation that for each dollar amount of mortgage loans purchased by the Corporation from the seller under a purchase contract, a dollar amount equal thereto will be advanced or committed in residential mortgage loans by the seller within one hundred and eighty days of the purchase contract.

Title IV: National Banks - Authorizes any national banking association to make real estate loans secured by liens upon unimproved real estate, including improved farm land and improved business and residential properties, and upon real estate to be improved by a building or buildings to be constructed or in the process of construction. Increases the amount of such loans.

Title V: Insured Loans to Provide Fire Safety Equipment for Nursing Homes and Intermediate Care Facilities - Authorizes the Secretary of Housing and Urban Development to make commitments to insure loans made by financial institutions to nursing homes and intermediate care facilities to provide for the purchase and installation of fire safety equipment necessary for compliance with the 1967 edition of the Life Sefety Code of the National Fire Protection Association or other such codes or requirements recognized by the Secretary of Health, Education, and Welfare as conditions of participation for providers of services under title XVIII (Medicare) and title XIX (Medicaid) of the Social Security Act.

Title VI: Authorization for Public Housing Program - Authorizes an appropriation of $350,000,000 for fiscal year 1974 to carry out the public housing program.