Prior to exercising any of the powers conferred by the Nebraska Investment Finance Authority Act regarding housing projects as defined in subdivision (1) of section 58-219, the authority may:

(1) Require that the mortgage or mortgage loan involved be insured by a mortgage insurer;

(2) Require any type of security that it deems reasonable and necessary; or

(3) Authorize the reservation of funds by mortgage lenders in such amount and subject to such conditions as the authority considers reasonable and necessary under the act.