Section 2
SEC. 2. There is hereby created a body corporate to be known as the Home Financing Commission which shall have its principal place of business in the City of Manila and shall exist for a period of fifty years. The functions of this Commission shall be— To operate a mortgage insurance program as provided in this Act. To encourage, aid or initiate the organization or incorporation of Savings and Loan Associations as provided in this Act. To promote home building and land ownership and the development of land for that purpose, and to promulgate rules and regulations to carry out the provisions of this Act.