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than 40% of the Home Mortgages acquired by the Trustee under the <br />Program may be for previously occupied residences. <br /> <br /> Program funds may be used to fund Home Morgages for <br />obligors whose maximum household income does not exceed 150% of <br />median household income (presently $45,750) with respect to a <br />residence wherein the obligor will be the first occupant or 120% <br />of median household income (presently $36,600) with respect to a <br />residence wherein the obligor will not be the first occupant. <br />Lending Institutions are required to use their best efforts to <br />originate at least half of the Home Mortgages on residences for <br />which the obligor will not be the first occupant for obligors <br />whose maximum household income does not exceed median household <br />income (presently $30,500). <br /> <br />E. SUMMARY OF HEARING COMMENTS <br /> <br /> A public hearing on the proposed Policy Report was duly <br />noticed and will be held on March 8, 1985. The following <br />comments were received: <br /> <br /> <br />