; or (2) any security based on or backed by a pool of residential mortgage loans that contains such residential mortgage loan. (d) Effective date This section shall apply— (1) with respect to the servicer (or affiliate of the servicer) of a residential mortgage loan that is originated after the date of the enactment of this Act, on such date of enactment; and (2) with respect to the servicer (or affiliate of the servicer) of a residential mortgage loan that is originated on or before the date of the enactment of this Act, upon the expiration of the 12-month period beginning upon such date of enactment. V Regulatory structure A Ginnie Mae 501. Removal from HUD; establishment as independent entity (a) In general Paragraph (2) of section 302(a) of the National Housing Act ( 12 U.S.C. 1717(a)(2) ) is amended by striking in the Department of Housing and Urban Development and inserting independent of any other agency or office in the Federal Government . (b) Conforming amendments Title III of the National Housing Act ( 12 U.S.C. 1716 et seq.) is amended— (1) in section 306(g)(3)(D) ( 12 U.S.C. 1721(g)(3)(D) ), by striking Secretary and inserting Association ; (2) in section 307 ( 12 U.S.C. 1722 ), by striking Secretary of Housing and Urban Development and inserting Association ; and (3) in section 317 ( 12 U.S.C. 1723i )— (A) in subsection (a)(1), by striking Secretary of Housing and Urban Development and inserting Administrator of the Association ; (B) in subsection (c)(4), by striking Secretary’s and inserting Administrator of the Association’s ; (C) in subsection (d)(1), by striking Secretary’s and inserting Administrator of the Association’s ; (D) in the heading for subsection (f), by striking by Secretary ; and (E) by striking Secretary each place such term appears and inserting Administrator of the Association . (c) Management