Section 207 (Mortgage Insurance for Multifamily Housing). Section 207 of the Housing Act provides for federal insurance of mortgage loans originated by FHA-approved lenders in connection with the construction or substantial rehabilitation of multifamily housing projects, which includes manufactured home parks. Section 213 (Cooperative Housing Projects). Section 213 of the Housing Act provides for FHA  insurance  of  mortgage  loans  on  cooperative  housing  projects.  Section  213  mortgage insurance enables nonprofit cooperative ownership housing corporations or trusts to develop or sponsor housing projects that will be operated as cooperatives. By using Section 213 insurance, investors can construct or rehabilitate multifamily housing that will be sold to such nonprofit corporations or trusts. Section  221(d)  (Housing  for  Moderate  Income  and  Displaced  Families). Sections 221(d)(3) and 221(d)(4) of the Housing Act provide for mortgage insurance to assist private industry in the construction or substantial rehabilitation of rental and cooperative housing for low- and moderate income families and families that have been displaced as a result of urban renewal, governmental actions or disaster. Section 223(a)(7) (Refinancing of FHA-Insured Mortgages). Section 223(a)(7) of the Housing Act permits the FHA to refinance existing insured mortgage loans under any section or title  of  the  Housing  Act.  Such  refinancing  results  in  prepayment  of  the  existing  insured mortgage. The new, refinanced mortgage loan is limited to the original principal amount of the existing mortgage loan and the unexpired term of the existing mortgage loan plus 12 years. Section 223(f) (Purchase or Refinancing of Existing Projects). Section 223(f) of the Housing  Act  provides  for  federal  insurance  of  mortgage  loans  originated  by  FHA-approved lenders  in  connection  with  the  purchase  or  refinancing  of  existing  multifamily  housing complexes, hospitals and nursing homes that do not require substantial rehabilitation. The principal objective of the Section 223(f) program is to permit the refinancing of mortgages to provide for a lower debt service or the S-14 purchase of existing properties in order to preserve an  adequate  supply  of  affordable  rental  housing.  Such  projects  may  have  been  financed originally with conventional or FHA-insured mortgages. Section 231 (Mortgage Insurance for Rental Housing for the Elderly). Section 231 of the Housing  Act  provides  for  insurance  of  mortgage  loans  to  facilitate  the  construction  and substantial rehabilitation of multifamily rental housing for elderly (62 or older) or disabled persons.  The  mortgage  insurance  may  be  used  to  finance  the  construction  and  substantial rehabilitation of detached, semi-detached, walk-up or elevator type rental housing designed specifically for elderly or disabled individuals consisting of 8 or more dwelling units. Sec- tion 231 was designed to increase the supply of rental housing specifically for the use and occupancy of elderly and/or disabled persons. Section  232  (Mortgage  Insurance  for  Nursing  Homes,  Immediate  Care  Facilities  and Board  and  Care  Homes). Section 232 of the Housing Act provides for FHA insurance of private construction mortgage loans to finance new or rehabilitated nursing homes, intermedi- ate care facilities, board and care homes, assisted living for the frail or elderly or allowable combinations thereof, including equipment to be used in their operation. Section 232 also provides for supplemental loans to finance the purchase and installation of fire safety equip- ment in these facilities. Section 236 (Mortgage Insurance for Subsidized Rental Housing Projects). Section 236 of  the  National  Housing  Act  combines  governmental  mortgage  insurance  on  multifamily housing  projects  with  supplemental  payments  to  reduce  the  project  owners'  monthly  debt service payments. The supplemental payments are paid directly to the mortgagee of the project S-16