Section 65. No domestic company shall, except in effecting the sale of real estate owned by it, and then only with the approval of the commissioner, invest any of its funds in loans upon mortgages except upon the conditions expressed in paragraph 7, 7A or 7B of section sixty-three; provided, that any such company may make and acquire such loans as are insured under the provisions of the National Housing Act of the United States or ''National Housing Act, Nineteen Hundred and Fifty-four'' of Canada or of any acts in amendment thereof or in addition thereto; provided, further, that any loans heretofore or hereafter so made or acquired, or any loans heretofore or hereafter made or acquired which are guaranteed or insured under the Servicemen's Readjustment Act of 1944 or any amendment thereof, shall qualify as an investment for all purposes of section sixty-three; provided, further, that any such company may acquire and hold bonds and other securities pursuant to section seven of chapter one hundred and twenty-one A whether or not the same are secured by mortgage and without regard to the ratio of loan to fair market value set forth in said paragraph seven of said section sixty-three; provided, further, that in addition to the foregoing any such company may, to an aggregate amount not in excess of ten per cent of the assets of such company, make and hold loans upon real property, including leasehold estates therein, in any state of the United States, or in the District of Columbia or Puerto Rico, or in any province of the Dominion of Canada and, unless approved by the commissioner, to an aggregate amount not in excess of three percent of the assets and not in excess of fifty percent of the surplus, calculated as of the time such loan is made, of such company, make and hold loans upon real property, including leasehold estates therein, in foreign countries other than Canada, notwithstanding the fact that such loans and the mortgages securing the same do not comply with the provisions of said paragraph 7, 7A or 7B of said section sixty-three. Nothing in this section shall prevent any such company from making and holding loans otherwise permitted under this chapter and taking as incidental collateral therefor any type of security including mortgages of real property or any interest or estate therein.