12 USC Ch. 13: Front Matter
Result 1 of 1
   
 
<< Previous   TITLE 12 / CHAPTER 13 / Front Matter   Next >>
 
12 USC Ch. 13: Front Matter
From Title 12-BANKS AND BANKINGCHAPTER 13-NATIONAL HOUSING
Jump To: Miscellaneous

CHAPTER 13-NATIONAL HOUSING

Sec.
1701.
Short title.
1701a.
Short title of amendment of 1938.
1701b.
Short title of amendment of 1942.
1701c.
Secretary of Housing and Urban Development.

        

(a)

Employment of personnel; delegation of functions.

(b)

Omitted.

(c)

Additional powers and duties of Secretary and Federal Home Loan Bank Board.

(d)

Use of funds for library memberships.

1701c–1 to 1701d–3. Omitted or Repealed.
1701d–4.
Exchange and assembly of housing and urban planning and development data; payment of expenses; acceptance of funds, services, facilities, materials, and other donations; approval of Secretary of State for international programs and activities.
1701e to 1701g–4. Repealed or Omitted.
1701g–5.
Revolving fund in connection with liquidating programs.
1701g–5a.
Transfer of New Communities Fund assets and liabilities.
1701g–5b.
Liquidation of New Communities Program; cancellation of debt.

        

(a)

Law applicable.

(b)

Availability of revolving fund moneys for administrative and other expenses.

(c)

Issuance of obligations to Secretary of the Treasury.

(d)

Cancellation of obligations.

1701g–5c.
Transfer of rehabilitation loan fund assets and liabilities.
1701h.
Advisory committees; payment of transportation and other expenses.
1701h–1.
Housing for elderly persons advisory committee.
1701i, 1701i–1, 1701j. Omitted or Repealed.
1701j–1.
Builder's certification as to construction.

        

(a)

Warranty requirements.

(b)

Availability of plans and specifications.

1701j–2.
National Institute of Building Sciences.

        

(a)

Congressional findings and declaration of purpose.

(b)

Establishment; advice and assistance of Academies-Research Council and other agencies and organizations knowledgeable in building technology.

(c)

Board of Directors; number; appointment; membership; terms of office; vacancies; appointment, etc., of Chairman and Vice Chairman; employees of United States; travel and subsistence expenses; appointment and compensation of president and other executive officers and employees; establishment, membership, and functions of Consultative Council.

(d)

Financial restrictions and prohibitions.

(e)

Exercise of functions and responsibilities.

(f)

Contract and grant authorization; donations; fees; amounts received in addition to amounts appropriated.

(g)

Technical findings and performance criteria and standards; applicability and use by Federal departments, agencies, and establishments, and State and local governments; supporting grants and contracts.

(h)

Advanced Building Technology Program.

(i)

Authorization of appropriations.

(j)

Annual report to President for transmittal to Congress; contents.

1701j–3.
Preemption of due-on-sale prohibitions.

        

(a)

Definitions.

(b)

Loan contract and terms governing execution or enforcement of due-on-sale options and rights and remedies of lenders and borrowers; assumptions of loan rates.

(c)

State prohibitions applicable for prescribed period; subsection (b) provisions applicable upon expiration of such period; loans subject to State and Federal regulation or subsection (b) provisions when authorized by State laws or Federal regulations.

(d)

Exemption of specified transfers or dispositions.

(e)

Rules, regulations, and interpretations; future income bearing loans subject to due-on-sale options.

(f)

Effective date for enforcement of Corporation-owned loans with due-on-sale options.

(g)

Balloon payments.

1701k.
Right to redeem property on which United States has lien.
1701l.
Limitation on interest rates of insured mortgages; terms of sales.
1701l–1.
Mortgage proceeds fraudulently misappropriated by mortgagor; recovery of deficiency after foreclosure.
1701m.
Credit and cancellation of notes transferred from Reconstruction Finance Corporation; net loss computation.
1701n.
Reduction of vulnerability of congested urban areas to enemy attack.
1701o.
Annual report of Secretary.
1701p.
Contents of report to President and Congress.
1701p–1.
Periodic report on residential mortgage delinquencies and foreclosures.
1701q.
Supportive housing for the elderly.

        

(a)

Purpose.

(b)

General authority.

(c)

Forms of assistance.

(d)

Term of commitment.

(e)

Applications.

(f)

Selection criteria.

(g)

Provisions of services.

(h)

Development cost limitations.

(i)

Tenant selection.

(j)

Miscellaneous provisions.

(k)

Definitions.

(l)

Allocation of funds.

(m)

Authorization of appropriations.

1701q–1.
Civil money penalties against mortgagors under section 1701q of this title.

        

(a)

In general.

(b)

Penalty for violation of agreement as condition of transfer of physical assets, flexible subsidy loan, capital improvement loan, modification of mortgage terms, or workout agreement.

(c)

Violations of regulatory agreement.

(d)

Agency procedures.

(e)

Judicial review of agency determination.

(f)

Action to collect penalty.

(g)

Settlement by Secretary.

(h)

"Knowingly" defined.

(i)

Regulations.

(j)

Deposit of penalties in insurance funds.

1701q–2.
Grants for conversion of elderly housing to assisted living facilities.

        

(a)

Grant authority.

(b)

Eligible projects.

(c)

Applications.

(d)

Funding for services.

(e)

Selection criteria.

(f)

Section 8 project-based assistance.

(g)

Definitions.

(h)

Authorization of appropriations.

1701r.
Congressional findings respecting housing for senior citizens.
1701r–1.
Pet ownership in assisted rental housing for the elderly or handicapped.

        

(a)

Restrictions on ownership.

(b)

Rules and regulations.

(c)

Removal of pets constituting a nuisance.

(d)

"Federally assisted rental housing for the elderly or handicapped" defined.

1701s.
Rent supplement payments for qualified lower income families.

        

(a)

Authorization; maximum term; maximum aggregate amount.

(b)

"Housing owner" defined; limitation on payments to housing owner.

(c)

Definitions.

(d)

Annual payment amount.

(e)

Criteria and procedure for determining eligibility and rental charges; recertification of income; agreements for services required in selection of tenants; delegation of authority to issue certificates.

(f)

Omitted.

(g)

Authority of Secretary.

(h)

Authorization of appropriations.

(i)

Omitted.

(j)

Additional definition of housing owner; restrictions on payments.

(k)

Repealed.

(l)

Additional available assistance authority.

(m)

Payments for benefit of certain projects having mortgages made by State or local housing finance or government agencies.

1701t.
Congressional affirmation of national goal of decent homes and suitable living environment for American families.
1701u.
Economic opportunities for low- and very low-income persons.

        

(a)

Findings.

(b)

Policy.

(c)

Employment.

(d)

Contracting.

(e)

Definitions.

(f)

Coordination with other Federal agencies.

(g)

Regulations.

1701v.
Congressional findings and declaration for improved architectural design in Government housing programs.
1701w.
Budget, debt management, and related counseling services for mortgagors; authorization of appropriations.
1701x.
Assistance with respect to housing for low- and moderate-income families.

        

(a)

Authorization to provide information, advice, and technical assistance; scope of assistance; authorization of appropriations.

(b)

Loans to nonprofit organizations or public housing agencies; purpose and terms; repayment; authorization of appropriations; deposit of appropriations in Low and Moderate Income Sponsor Fund.

(c)

Grants for homeownership counseling organizations.

(d)

Prepurchase and foreclosure-prevention counseling demonstration.

(e)

Certification.

(f)

Homeownership and rental counselor training and certification programs.

1701y.
National Homeownership Foundation.

        

(a)

Creation; purpose; articles of incorporation and charter; reservation of right to alter or amend charter; term; principal office; administration as charitable and educational foundation; compensation of officers and employees; contract authority; donations and grants; payment of principal and interest on borrowings.

(b)

Board of Directors; appointment of members; Chairman; terms of office; reappointment; compensation and travel expenses; Executive Director and other officers; vacancies; by-laws.

(c)

Functions; programs to expand homeownership and housing opportunities for lower income families; fees for assistance or services.

(d)

Grants and loans to public or private organizations; eligibility; encouragement of cooperation between organizations and neighborhoods and communities.

(e)

Coordination of activities and consultation with Department of Housing and Urban Development and other Federal departments and agencies.

(f)

Annual report to the President and the Congress; contents.

(g)

Audit of financial transaction; access to records; report of audit; contents of report.

(h)

Deposit of funds of Foundation.

(i)

Authorization of appropriations.

1701z.
New technologies in the development of housing for lower income families.

        

(a)

Institution of program; assistance to mobile home buyers.

(b)

Approval of plans utilizing new housing technologies; considerations.

(c)

Number of dwelling units to be constructed for each type of technology; evaluation of projects.

(d)

Transfer of surplus property.

(e)

Report of findings; legislative recommendations.

1701z–1.
Research and demonstrations; authorization of appropriations; continuing availability of funds.
1701z–2.
Advanced technologies, methods, and materials for housing construction, rehabilitation, and maintenance.

        

(a)

General acceptance; costs, reduction; health and safety restrictions on expanded housing production.

(b)

Experimental construction under approved housing plans on Federal or other lands with view toward ultimate mass housing production; use of section 1701z–1 funds and authority.

(c)

Acquisition, use, and disposal of property; transfer of excess property.

(d)

Technical assistance; reports; general dissemination and form of reports, data, and information.

(e)

Contracts or grants; authority; advance and progress payments; work limitation.

(f)

Utilization of facilities of other agencies; working agreements, cooperative agreements, contract authority, receipt of funds, and exercise of section 1701c(c) powers.

(g)

Information and data; restriction on use or identification.

1701z–3.
Experimental housing allowance payment program.

        

(a)

Purpose of payments.

(b)

Termination date of payments; termination date for contracts; contracts for performance of administrative functions.

(c)

Report to Congress.

1701z–4.
Abandoned properties demonstration project.

        

(a)

Grants for arrest of incipient abandonment and revitalization of blighted areas.

(b)

Preferred projects; scope of projects.

(c)

Purchase or lease of project real estate at fair market value for new or rehabilitated housing use; conditions.

(d)

Amount of grants; authorization of appropriations; continuing availability of funds; locality limitation.

(e)

Projects as part of urban renewal projects for purpose of application of urban renewal provisions.

1701z–5.
Demonstrations of heating or cooling residential housing utilizing solar energy.

        

(a)

Consultation by Secretary with National Science Foundation; scope of demonstrations; powers of Secretary.

(b)

Evaluation by Secretary.

1701z–6.
Special housing need research and demonstration authority.

        

(a)

Special demonstrations of housing design, structure, facilities, and amenities to meet needs of elderly, handicapped, etc.; contracts, grants, and assistance by Secretary.

(b)

Areas of preferential attention.

(c)

Utilization of contract and loan authority of federally assisted housing programs; setting aside of development, etc., requirements during testing.

(d)

Evaluation of demonstration.

(e)

Limitation on amounts available for research.

1701z–7.
Studies to determine extent of need for counseling to mortgagors; report to Congress.
1701z–8.
Energy conservation and renewable-resource demonstration.

        

(a)

National demonstration program; purpose.

(b)

Financial assistance to owners and tenants of dwelling units; authorization of Secretary.

(c)

Duties of Secretary.

(d)

Limitations on grants; modification and exceptions to limitation; eligibility.

(e)

Conditions upon availability of financial assistance.

(f)

Implementation of program.

(g)

Interim and final reports on program progress, findings, and legislative recommendations; criteria for evaluation of projects.

(h)

Report on evaluation criteria to be used and results sought prior to funding of projects.

(i)

Definitions.

(j)

Authorization of appropriations.

1701z–9.
Expansion of home ownership opportunities in urban areas.
1701z–10.
Model rehabilitation guidelines in inspection and approval of rehabilitated properties; report to Congress.
1701z–10a.
Biennial survey of economic and housing market conditions.
1701z–11.
Management and disposition of multifamily housing projects.

        

(a)

Goals.

(b)

Definitions.

(c)

Disposition of property.

(d)

Management and maintenance of properties.

(e)

Required assistance.

(f)

Discretionary assistance.

(g)

Protection for unassisted very low-income tenants.

(h)

Contract requirements.

(i)

Right of first refusal for local and State government agencies.

(j)

Displacement of tenants and relocation assistance.

(k)

Mortgage and project sales.

(l)

Report to Congress.

1701z–12.
Housing access.
1701z–13.
Solar energy for single-family and multifamily housing units.

        

(a)

Purpose.

(b)

Cost-effective and economically feasible solar energy systems; "solar energy system" defined.

(c)

Matters considered.

(d)

Report to Congress.

1701z–14.
Lower cost technology demonstration program.
1701z–15.
Approval of individual residential water purification or treatment units.

        

(a)

In general.

(b)

Approval process.

SUBCHAPTER I-HOUSING RENOVATION AND MODERNIZATION

1702.
Administrative provisions.
1702a.
Repealed.
1703.
Insurance of financial institutions.
1704.
Repealed.
1705.
Allocation of funds.
1706, 1706a.
Repealed.
1706b.
Taxation of real property held by Secretary.
1706c.
Insurance of mortgages.

        

(a)

Supplemental system; limitation on amount; termination of authority.

(b)

Eligibility conditions.

(c)

Premium charge.

(d)

Release of mortgagor.

(e)

Conclusiveness of insurance contract as to eligibility.

(f)

Rights of mortgagee upon foreclosure.

(g)

Applicability of other sections.

1706d.
Applicability.
1706e.
Repealed.

        

SUBCHAPTER II-MORTGAGE INSURANCE

1707.
Definitions.
1708.
Federal Housing Administration operations.

        

(a)

Mutual Mortgage Insurance Fund.

(b)

Advisory Board.

(c)

Mortgagee Review Board.

(d)

Coordination of GNMA and FHA withdrawal action.

(e)

Appraisal standards.

1709.
Insurance of mortgages.

        

(a)

Authorization.

(b)

Eligibility for insurance; mortgage limits.

(c)

Premium charges.

(d)

Increase in maximum amount of mortgage.

(e)

Contract of insurance as evidence of eligibility.

(f)

Repealed.

(g)

Limitation on use of single family mortgage insurance by investors.

(h)

Disaster housing.

(i)

Single-family housing in outlying areas.

(j)

Real estate loans by national banks.

(k)

Rehabilitation of one- to four-family structures; definitions; eligibility; refinancing and extension; General Insurance Fund.

(l),

(m) Repealed.

(n)

Cooperative housing projects; definitions.

(o)

Insurance of mortgages on owner occupied homes in communities subject to adverse economic conditions resulting from Indian claims to ownership of land; obligation of Special Risk Insurance Fund.

(p)

Insurance of mortgages in communities subject to temporary adverse economic conditions as a result of claims to ownership of land in the community by an American Indian Tribe, band, or nation; eligibility, authorities, etc.

(q)

Insurance of mortgages secured by property on certain lands leased by Seneca Nation of New York Indians.

(r)

Actions to reduce losses under single family mortgage insurance program.

(s)

Suspension or revocation of approval of mortgagee; notice and statement of reasons.

(s)

Disclosure regarding interest due upon mortgage prepayment.

(t)

Accountability of mortgage lenders.

(v)

Use of FHA insurance with assistance under 42 U.S.C. 1437f.

(v)

Annual report.

(x)

Management deficiencies report.

1709–1.
Repealed.
1709–1a.
State constitutional and legal limits upon interest chargeable on loans, mortgages, or other interim financing arrangements; applicability; covered arrangements.
1709–2.
Equity skimming; penalty; persons liable; one dwelling exemption.
1709a.
Determination of loan-to-value ratios.
1709b.
Repealed.
1710.
Payment of insurance.

        

(a)

In general.

(b)

Consent to release of mortgagor or property.

(c)

Debentures; form and amounts.

(d)

Debentures; issuance; negotiability; terms; tax exemptions.

(e)

Certificate of claim.

(f)

Division of excess proceeds; settlement of certificates of claims and refunds to mortgagors.

(g)

Handling and disposal of property; settlement of claims.

(h)

Disposition of assets in revitalization areas.

(i)

Mortgagor's or mortgagee's interest in property or claim conveyed.

(j)

Foreclosure; payment and cessation of obligation.

(k)

Repealed.

(l)

Nullification of right of redemption of single family mortgagors.

1711.
General Surplus and Participating Reserve Accounts.

        

(a)

Establishment; abolishment of General Reinsurance Account.

(b)

Credits and charges.

(c)

Distribution of funds to terminating mortgagors.

(d)

Rights and liabilities.

(e)

Actuarial status of entire Fund.

(f)

Capital ratio for Mutual Mortgage Insurance Fund.

(g)

Annual independent audit of Mutual Mortgage Insurance Fund.

(h)

Adjustment of premiums.

1712.
Investment of funds.
1713.
Rental housing insurance.

        

(a)

Definitions.

(b)

Insurance of additional mortgages.

(c)

Eligibility for insurance; mortgage limits.

(d)

Premium, appraisal, and inspection charges.

(e)

Adjusted premium charge on payment of mortgage.

(f)

Repealed.

(g)

Payment of insurance after default.

(h)

Certificate of claim; division of excess proceeds.

(i)

Debentures; execution; negotiability; terms; tax exemptions.

(j)

Debentures; form and amounts.

(k)

Acquisition of property by conveyance or foreclosure.

(l)

Handling and disposal of property; settlement of claims.

(m)

Repealed.

(n)

Default or payment; rights of parties.

(o)

Reissue of prior insurance.

(p),

(q) Repealed.

(r)

Service charge for mortgages assigned to and held by the Secretary.

1714.
Taxation.
1715.
Statistical and economic surveys.
1715a.
Repealed.
1715b.
Rules and regulations.
1715c.
Labor standards.
1715d.
Insurance of mortgages on property in Alaska, Guam, Hawaii, and Virgin Islands.
1715e.
Cooperative housing insurance.

        

(a)

Projects insurable.

(b)

Eligibility conditions for projects under subsection (a)(1) of this section.

(c)

Eligibility conditions for projects under subsection (a)(2) of this section.

(d)

Amortization; release from mortgage lien; individual insurance; commercial and community facilities.

(e)

Applicability of sections 1710 and 1713 of this title.

(f)

Technical advice and assistance.

(g)

Housing projects designed for single person occupancy.

(h)

Failure to sell to a nonprofit organization.

(i)

Mortgages executed by consumer cooperatives covering existing structures.

(j)

Insurance of supplementary cooperative loans.

(k)

Cooperative Management Housing Insurance Fund.

(l)

General Surplus Account; Participating Reserve Account.

(m)

Transfer of insurance to Management Fund.

(n)

Payment of premium charges in debentures.

(o)

Transfer of funds between Management Fund and General Insurance Fund; investment of monies.

(p)

Increase in maximum mortgage amounts for solar energy systems and energy conservation measures.

1715f.
Process of applications and issuance of commitments.
1715g.
Insurance of mortgage where mortgagor is not occupant of property.
1715h to 1715j.
Repealed.
1715k.
Rehabilitation and neighborhood conservation housing insurance.

        

(a)

Purpose of section.

(b)

Authorization.

(c)

Definitions.

(d)

Eligibility for insurance; conditions; limits.

(e)

Release of mortgagor or part of property.

(f)

Entitlement of mortgagee to benefits; payment in cash or debentures; acquisition of mortgages; applicability of other provisions.

(g)

Repealed.

(h)

Home improvement loans; eligibility; conditions; refinancing; premium charge; defaults; debentures; exception; limitation.

1715l.
Housing for moderate income and displaced families.

        

(a)

Purpose.

(b)

Authorization.

(c)

Definitions.

(d)

Eligibility for insurance; conditions; limits.

(e)

"Mortgagor" defined; release of mortgagor or part of property.

(f)

Compliance with standards; nondwelling facilities in projects in urban renewal areas; number of family units; premium charges; housing for low-income purchasers; expiration of mortgage insurance authority; "family" defined; single occupants in subsection (d)(3) housing; use of certain housing facilities for classroom purposes; return of advances for capital improvements.

(g)

Entitlement of mortgagee to benefits; applicability of other provisions; debentures; "going Federal rate" defined; transfer of original credit instrument.

(h)

Insurance of mortgages to finance purchase and rehabilitation by nonprofit organizations of housing for resale to low-income purchasers, and insurance of mortgages executed for the purpose of financing rehabilitation or improvement of dwellings owned and occupied by mortgagors who purchased from nonprofit organizations.

(i)

Conversion of insured project to plan of family unit ownership; sale of units; agreements for maintenance; release from lien of project mortgage; insurance of mortgages financing purchase of individual family units; eligibility for insurance; definitions.

(j)

Conversion of insured rental projects to cooperatives; eligibility for membership; insurance of cooperative mortgages financing purchase of projects; eligibility for insurance.

(k)

Increase in maximum insurance amounts for costs incurred from solar energy systems and energy conservation measures.

(l)

Rental charges; "eligible multifamily housing" defined.

1715m.
Mortgage insurance for servicemen.

        

(a)

Purpose; housing certificates.

(b)

Eligibility of mortgage for insurance.

(c)

Manner of acceptance; payment of premiums.

(d)

Entitlement of mortgagee to benefits.

(e)

Applicability of other provisions.

(f)

Transfer of insurance on mortgages covering single-family dwellings or one-family units in condominium projects if mortgage is assumed by serviceman.

(g)

Extension of period of ownership where serviceman dies while on active duty.

1715n.
Miscellaneous mortgage insurance.

        

(a)

Projects covered.

(b)

Insurance of mortgages given to refinance mortgages covering existing property or projects in urban renewal areas.

(c)

Insurance of certain assigned mortgages.

(d)

Insurance of loans made to cover operating losses of certain projects having existing mortgages insured by Secretary.

(e)

Insurance of mortgages executed in connection with repair, rehabilitation, construction, or purchase of property in older, declining urban areas.

(f)

Insurance of mortgages executed in connection with purchase or refinancing of existing multifamily housing project; refinancing of existing debt of existing hospital, or purchase or refinancing of rental rehabilitated property; terms and conditions, etc.

(g)

Insurance of mortgages covering multifamily housing projects including units not self-contained.

1715o.
Interest rate on debentures; method of establishment.
1715p.
Insurance of advances under open-end mortgages; payment of charges; eligibility and conditions.
1715q.
Delivery of statement of appraisal or estimates to home buyers.
1715r.
Requirement of builder's cost certification; definitions.
1715s.
Transferred.
1715t.
Voluntary termination of insurance.
1715u.
Authority to assist mortgagors in default.

        

(a)

Loss mitigation.

(b)

Payment of partial claim.

(c)

Assignment.

(d)

Prohibition of judicial review.

(e)

Repealed.

(f)

Applicability of other laws.

1715v.
Insurance of mortgages for housing for elderly persons.

        

(a)

Purpose; definitions.

(b)

Authorization.

(c)

Eligibility for insurance; maximum amount of mortgage; terms and conditions.

(d)

Release of part of mortgaged property or project from lien; preferences and priorities in rental of dwellings.

(e)

Applicability of other laws.

(f)

Handicapped family units and facilities; rental preference or priority.

1715w.
Mortgage insurance for nursing homes, intermediate care facilities, and board and care homes.

        

(a)

Purpose.

(b)

Definitions.

(c)

Authorization.

(d)

Terms and conditions; limitation on maximum amount of mortgage; amortization; interest; certification from State agency.

(e)

Release of part of mortgaged property or project from lien.

(f)

Applicability of other laws.

(g)

Regulations covering intermediate care facilities; consultations.

(h)

Consultations concerning need for and availability of intermediate care facilities.

(i)

Fire safety equipment for nursing homes, assisted living facilities, intermediate care facilities, or board and care homes.

(j)

Schedules and deadlines for processing and approval of applications.

1715x.
Experimental housing insurance.

        

(a)

Purpose; authorization.

(b)

Eligibility for insurance; conditions; limits.

(c)

Contracts, agreements, and financial undertakings with mortgagor.

(d)

Investigations and analysis of data; publication and distribution of reports.

(e)

Entitlement to insurance benefits.

(f)

Defaults; payment in cash or debentures; acquisition of mortgage.

1715y.
Mortgage insurance for condominiums.

        

(a)

Purpose.

(b)

Definitions.

(c)

Authorization; eligibility for insurance; conditions; limits.

(d)

Blanket mortgages of multifamily projects; plan of family unit ownership; regulations; stock purchase and redemption.

(e)

Eligibility for insurance of blanket mortgages of multifamily projects.

(f)

Amortization of blanket mortgages of multifamily projects; interest; releases; extent of project.

(g)

Entitlement to insurance benefits as provided in section 1710(a) of this title.

(h)

Applicability of other provisions.

(i)

Applicability of other provisions.

(j)

Increase in maximum insurance amounts for costs incurred from solar energy systems and energy conservation measures.

(k)

Rental housing conversion.

1715z.
Homeownership or membership in cooperative association for lower income families.

        

(a)

Authorization for periodic assistance payments to mortgagees; assistance to manufactured home buyers.

(b)

Qualifications and eligibility requirements for assistance payments.

(c)

Limitation on payments on behalf of mortgagor; occupancy of property; maximum amount of payment; recapture of amounts; determination, applicability, etc.

(d)

Limitation on payments on behalf of family holding membership in cooperative association; occupancy; maximum amount of payment.

(e)

Reimbursement for expenses in handling the mortgage.

(f)

Adoption of procedures for recertifications of mortgagor's or cooperative member's income.

(g)

Regulations to assure that sales price or other consideration paid is not increased above appraised value.

(h)

Authorization of appropriations; aggregate amount of assistance payment contracts; maximum income limits of families; limitation on payments with respect to existing dwellings or dwelling units in existing projects and for approved substantial rehabilitation of dwellings or dwelling units in projects.

(i)

Insurance of mortgages executed by mortgagors meeting eligibility requirements for assistance payments; issuance of commitment; eligibility requirements for insurance.

(j)

Insurance of mortgages executed by nonprofit organizations or public bodies or agencies; issuance of commitment; eligibility requirements for insurance; insurance of mortgages executed to finance sale of individual dwellings to lower income individuals or families; definitions; assistance payments to mortgagees on behalf of nonprofit organizations or public bodies and agencies.

(k)

Allocation and transfer of reasonable portion of total authority to contract to make assistance payments to Secretary of Agriculture for use in rural areas and small towns.

(l)

Deductions for minors in determining income limits; exclusion of earnings of minors.

(m)

Termination date for insurance of mortgages.

(n)

Percentage limitation of mortgage insurance on subdivision units; exceptions.

(o)

Mortgage insurance over maximum limits involving dwellings of community sponsored programs of concentrated redevelopment or revitalization.

(p)

Mortgage insurance over maximum limits involving dwellings to be occupied by physically handicapped persons; applicability, etc.

(q)

Periodic assistance payments for emergency stimulation of housing market; contracts, terms and conditions, eligibility, etc., for payments.

(r)

Refinancing.

1715z–1.
Rental and cooperative housing for lower income families.

        

(a)

Authorization for periodic interest reduction payments on behalf of owner of rental housing project.

(b)

Restrictions on payments; payments with respect to projects financed under State or local programs; mortgage insurance premium.

(c)

Amount of payments.

(d)

Mortgage handling expenses.

(e)

Operation of project in accordance with requirements respecting tenant eligibility and rents prescribed by Secretary.

(f)

Establishment of basic and fair market rental charges; rental for dwelling units; separate utility metering; additional assistance payments for low-income tenants; limitations; amounts; approval of payments.

(g)

Collection of excess rental charges; credit to reserve for additional assistance payments; retention by project owner.

(h)

Rules and regulations.

(i)

Authorization of appropriations; aggregate amount of contracts; contracts for assistance payments; income limitations; availability of amounts for projects approved prior to rehabilitation and projects for occupancy by elderly or handicapped families; definitions.

(j)

Insurance of mortgages; definitions; eligibility for insurance; mortgage requirements; property or project requirements; sale of individual dwelling units; release of mortgagor from liability or release of property from lien of mortgage.

(k)

Definitions.

(l)

Allocation and transfer of reasonable portion of total authority to contract to make payments to Secretary of Agriculture for use in rural areas and small towns.

(m)

"Income" defined.

(n)

Termination date for insurance of mortgages; exception.

(o)

State funding of interest reduction payments.

(p)

Contracts with State or local agencies for monitoring and supervision of management by private sponsors of assisted projects.

(q)

Assistance to residents of covered projects; contracting authority; applicability.

(r)

Payments for benefit of certain projects having mortgages made by State or local housing finance or government agencies.

(s)

Grants and loans for rehabilitation of multifamily projects.

1715z–1a.
Assistance for troubled multifamily housing projects.

        

(a)

Purpose.

(b)

Availability of financial assistance.

(c)

Eligibility for financial assistance.

(d)

Criteria for granting financial assistance.

(e)

Consultation with local officials.

(f)

Amount of financial assistance.

(g)

Rules and regulations.

(h)

Limitation on use of financial assistance.

(i)

Repealed.

(j)

Flexible Subsidy Fund.

(k)

Assistance for capital improvements; loans as medium of assistance; owner contributions; priority of projects.

(l)

Amount of assistance for capital improvements; term of loan; rate of interest; allowance for administrative costs and probable program losses; nondischargeable liability; other forms for loans.

(m)

Rental payment increases; minimization of increases.

(n)

Allocation of assistance.

(o)

Coordination of assistance.

(p)

Enhanced voucher eligibility.

1715z–1b.
Tenant participation in multifamily housing projects.

        

(a)

Purpose; definitions.

(b)

Rights of tenants.

(c)

Regulations.

1715z–1c.
Regulation of rents in insured projects.
1715z–2.
Special mortgage insurance assistance.

        

(a)

Purpose.

(b)

Authorization to insure mortgages meeting requirements of section.

(c)

Eligibility for insurance.

(d)

Preferences in approving mortgage insurance applications and in providing counseling services; eligible families.

(e)

Budget, debt management, and related counseling services.

(f)

Aggregate principal balance of mortgages insured.

(g)

Premium fee.

(h)

Assumption of loss.

(i)

Guarantees.

(j)

Authorization of appropriations.

1715z–3.
Special Risk Insurance Fund.

        

(a)

Entitlement to benefits; computation and payment of benefits to mortgagee.

(b)

Creation of fund; authorization for advancements; repayment; crediting of charges and fees; payments from fund; authorization of appropriations for losses; deposits to fund; open-market purchases of debentures which are obligations of fund.

(c)

Mortgage insurance for military impacted areas; criteria; obligation of Special Risk Insurance Fund; establishment of premiums and other charges.

1715z–4.
Modifications in terms of mortgages covering multifamily projects; requests for extensions to cure defaults or for modification of mortgage terms; regulations.
1715z–4a.
Double damages remedy for unauthorized use of multifamily housing project assets and income.

        

(a)

Action to recover assets or income.

(b)

Initiation of proceedings and temporary relief.

(c)

Amount recoverable.

(d)

Time limitation.

(e)

Continued availability of other remedies.

1715z–5.
Purchase of fee simple title from lessors.

        

(a)

Authorization to insure loans for purpose of financing purchases.

(b)

Definitions.

(c)

Eligibility for insurance.

(d)

Applicability of other provisions of law.

1715z–6.
Supplemental loans for multifamily projects.

        

(a)

Authorization to insure; "supplemental loan" defined.

(b)

Eligibility for insurance.

(c)

Applicability of other provisions of law.

(d)

Authorization to insure loans for improvements or additions; terms and conditions; limitation on amount.

(e)

Loan insurance for energy conserving improvements and solar energy systems.

(f)

Repealed.

(g)

Extension of rental assistance for term of loan.

1715z–7.
Mortgage insurance for hospitals.

        

(a)

Purpose.

(b)

Definitions.

(c)

Authorization to insure; prohibition of premiums on guarantees of principal and interest under title VII of the Public Health Service Act.

(d)

Insurance of mortgages covering new or rehabilitated hospitals, including equipment; terms and conditions.

(e)

Release of part of property or project from lien.

(f)

Encouragement of programs undertaking responsibility to provide comprehensive health care; immediate processing of applications for public hospitals.

(g)

Insurance of mortgages providing permanent financing or refinancing of existing mortgage indebtedness; aggregate principal balance of mortgages.

(h)

Applicability of other laws.

1715z–8.
Mortgage assistance payments for middle-income families.

        

(a)

Determination by Secretary of necessity; interest subsidy payments; effective date.

(b)

Qualifications of mortgagor for assistance payments.

(c)

Termination of interest subsidy payments.

(d)

Monthly mortgage payments as determining eligibility for interest subsidy payments; mortgage assistance payments for middle-income cooperative members; interest subsidy payments; applicability of provisions to cooperative mortgagors.

(e)

Amount of interest subsidy payments.

(f)

Adoption of procedures for recertifications of mortgagor's income.

(g)

Regulations to assure that sales price or other consideration paid is not increased above appraised value.

(h)

Authorization of appropriations; aggregate amount of assistance payment contracts; termination date.

(i)

Determination of family income; exclusion of income of minors.

(j)

Insurance of mortgages executed by mortgagors meeting eligibility requirements for assistance payments; issuance of commitment; eligibility requirements for insurance.

1715z–9.
Co-insurance of eligible mortgage, advance, or loan.

        

(a)

Authority of Secretary; request of mortgagee; premium charges; provisions of contract of co-insurance; non-applicability of state insurance laws.

(b)

Inspection of construction of dwellings or projects as prerequisite; minimum standards or criteria applicable.

(c),

(d) Repealed.

(e)

Availability unaffecting insurance otherwise authorized; criteria for exercise of authority by Secretary.

(f)

Multifamily housing project; contract provisions; aggregate principal amount of all mortgages insured; loans on defaulted mortgages; insurance for state assisted projects and projects under construction; definitions; amount of reserves.

(g)

Redesignated (f).

(h)

Acceptable co-insurance provisions for rental rehabilitation; termination date.

(i)

Authority of mortgagee to assign its interest in any note or mortgage subject to a contract of co-insurance; terms and conditions respecting retention of co-insurance risk of such note or mortgage.

(i)

Annual review of, and assessment of compliance with, requirements; report; adjustment of requirements.

1715z–10.
Graduated payment and indexed mortgages.

        

(a)

Criteria; principal obligation limitation; termination date.

(b)

Inapplicability of principal obligation limitations.

(c)

Mortgages with monthly adjustments based on selected price index; priority; regulations; number.

(d)

Multifamily housing.

(e)

Inapplicability of State constitution, etc., provision limiting interest or requiring minimum amortization of principal.

1715z–11.
Sale to cooperatives of multifamily housing projects acquired by Secretary; acceptance of purchase money mortgage for sale or insurance of mortgage; principal amount of mortgage; expenditures for repairs, etc., prior to sale.
1715z–11a.
Flexible authority.
1715z–12.
Single-family mortgage insurance on Hawaiian home lands.

        

(a)

One- to four-family residence; eligibility.

(b)

Construction advances.

(c)

Insurance of mortgage as obligation of General Insurance Fund.

(d)

"Native Hawaiian" and "Hawaiian home lands" defined.

1715z–13.
Single family mortgage insurance on Indian reservations.

        

(a)

One- to four-family residence; eligibility.

(b)

Construction advances; percentage limitation on amount of principal obligation; pledge of income from tribal resources or assets.

(c)

Lack of tribal or trust fund income.

(d)

Availability of tribal eviction procedures.

(e)

Assumption of mortgage.

(f)

Insurance of mortgage as obligation of General Insurance Fund.

(g)

Availability of status and payment history of loans; entitlement to benefit of insurance; reinstatement of loan upon cure of default; garnishment proceedings; foreclosure proceedings.

(h)

Premium charge for insurance; report to Congress.

(i)

"Indian tribe" and "trust or otherwise restricted land" defined.

1715z–13a.
Loan guarantees for Indian housing.

        

(a)

Authority.

(b)

Eligible loans.

(c)

Certificate of guarantee.

(d)

Guarantee fee.

(e)

Liability under guarantee.

(f)

Transfer and assumption.

(g)

Disqualification of lenders and civil money penalties.

(h)

Payment under guarantee.

(i)

Indian Housing Loan Guarantee Fund.

(j)

Requirements for standard housing.

(k)

Environmental review.

(l)

Definitions.

1715z–14.
Reinsurance contracts.

        

(a)

Demonstration mortgage reinsurance program; areas; number of mortgages.

(b)

One- to four-family dwellings; requirements for private mortgage insurance companies.

(c)

Required contract provisions.

(d)

Mortgages offered for inclusion by Secretary.

1715z–15.
Limitation on prepayment of mortgages on multifamily rental housing.

        

(a)

Acceptance of offer to prepay; qualifications.

(b)

Approval prior to foreclosure.

(c)

"Lower income families" defined.

1715z–16.
Adjustable rate single family mortgages.

        

(a)

One- to four-family dwellings; maximum term of mortgage; adjustments in effective rate of interest.

(b)

Written explanation of mortgage features.

(c)

Number of mortgages and loans.

1715z–17.
Shared appreciation mortgages for single family housing.

        

(a)

One- to four-family dwellings; requirements.

(b)

Payment of mortgagee's share of net appreciated value; "net appreciated value" defined.

(c)

Entitlement of mortgagee upon default.

(d)

Inapplicability of State constitution, statute, etc., limiting or prohibiting increases in outstanding loan balance.

(e)

Encouraged use of insurance by low and moderate income families.

(f)

Consumer protections and disclosure requirements.

(g)

Number of mortgages and loans.

1715z–18.
Shared appreciation mortgages for multifamily housing.

        

(a)

Five or more family units; requirements.

(b)

Payment of mortgagee's share of net appreciated value; term of mortgage; repayment; "net appreciated value" defined.

(c)

Entitlement of mortgagee upon default.

(d)

Maximum percentage of net appreciated value; disclosure requirements.

(e)

Inapplicability of State constitution, statute, etc., limiting or prohibiting increases in outstanding loan balance.

(f)

Number of dwelling units.

1715z–19.
Equity skimming penalty.

        

(a)

In general.

(b)

Mortgage notes described.

1715z–20.
Insurance of home equity conversion mortgages for elderly homeowners.

        

(a)

Purpose.

(b)

Definitions.

(c)

Insurance authority.

(d)

Eligibility requirements.

(e)

Disclosures by mortgagee.

(f)

Information services for mortgagors.

(g)

Limitation on insurance authority.

(h)

Administrative authority.

(i)

Protection of homeowner and lender.

(j)

Safeguard to prevent displacement of homeowner.

(k)

Funding for counseling and consumer education and outreach.

1715z–21.
Delegation of insuring authority to direct endorsement mortgagees.

        

(a)

Authority.

(b)

Considerations.

(c)

Enforcement of insurance requirements.

(d)

Termination of mortgagee's authority.

(e)

Requirements and procedures.

SUBCHAPTER III-NATIONAL MORTGAGE ASSOCIATIONS

1716.
Declaration of purposes of subchapter.
1716–1, 1716a.
Repealed.
1716b.
Partition of Federal National Mortgage Association into Federal National Mortgage Association and Government National Mortgage Association; assets and liabilities; operations.
1717.
Federal National Mortgage Association and Government National Mortgage Association.

        

(a)

Creation; succession; principal and other offices.

(b)

Purchase and sale of insured and conventional mortgages; transactions in loans and advances of credit.

(c)

Administration of trusts; obligations of departments and agencies of the United States; exemption of interest income from taxation; authorization of appropriations for differential reimbursements.

1717a.
Prohibition against sale of obligations by Federal departments and agencies after June 30, 1966, without compliance with requirements of section 1717(c) of this title or without approval by Secretary of the Treasury; exemption.
1718.
Capitalization of Federal National Mortgage Association.

        

(a)

Common stock; preferred stock; transferability of shares.

(b)

Fees and charges; annual transfer of earnings to general surplus account.

(c)

Capital distributions from general surplus account; minimum capitalization levels.

(d)

Institutions eligible to purchase stock.

1719.
Secondary market operations.

        

(a)

Purchase and sale of mortgages; secondary market operations; advance of funds or origination of loans; settlement or extinguishment of borrower's rights.

(b)

Obligations of the Corporation.

(c)

Purchase of obligations by Treasury; conditions and restrictions.

(d)

Mortgage-backed securities; issuance; maturities; rates of interest; exempt securities; adequacy of mortgages to permit principal and interest payments; statement in securities.

(e)

Subordinated or convertible obligations; issuance; maturities; rate of interest; redemption; exempt securities; debt or obligation of United States; purchases in open market.

(f)

Prohibition on assessment or collection of fee or charge by United States.

1720.
Repealed.
1721.
Management and liquidation functions of Government National Mortgage Association.

        

(a)

Separate accountability of assets and liabilities.

(b)

Issuance of obligations to expedite substitution of private financing.

(c)

Cutoff date as controlling purchases; total amount of mortgages and commitments.

(d)

Issuance of obligations sufficient to carry out functions; character; purchase.

(e)

Acquisition of mortgages offered by Secretary of Housing and Urban Development.

(f)

Transfer of funds.

(g)

Guarantee of principal and interest on trust certificates and other securities; fees and charges; subrogation; contract for extinguishment of right, title, or interest in mortgages; protection of interests; full faith and credit; commitments limited; limitation on fees or charges.

1722.
Benefits and burdens incident to administration of functions and operations under sections 1720 and 1721.
1723.
Management.

        

(a)

Government National Mortgage Association.

(b)

Federal National Mortgage Association.

1723a.
General powers of Government National Mortgage Association and Federal National Mortgage Association.

        

(a)

Seal, and other matters incident to operation.

(b)

Determination with respect to obligations and expenditures.

(c)

Exemption from taxation.

(d)

Appointment and compensation of personnel; use of services of other agencies.

(e)

Prohibition against use of names; injunction; damages.

(f)

Preparation of forms of obligations and certificates.

(g)

Depositaries, custodians, and fiscal agents.

(h),

(i) Repealed.

(j)

Audit; access to books, etc.; report of audit.

(k)

Financial reports; submission to Director; contents.

(l)

Independent audits of financial statements.

(m)

Mortgage data collection and reporting requirements.

(n)

Report on housing activities; contents; public disclosure.

(o)

Affordable Housing Advisory Council.

1723b.
Investment of funds.
1723c.
Obligations, participations, or other instruments as lawful investments; acceptance as security; exempt securities.
1723d.
Transfer of certain functions to Association.
1723e to 1723h.
Repealed.
1723i.
Civil money penalties against issuers.

        

(a)

In general.

(b)

Violations for which penalty may be imposed.

(c)

Agency procedures.

(d)

Judicial review of agency determination.

(e)

Action to collect penalty.

(f)

Settlement by Secretary.

(g)

"Knowingly" defined.

(h)

Regulations.

(i)

Deposit of penalties.

SUBCHAPTER IV-INSURANCE OF SAVINGS AND LOAN ACCOUNTS

1724 to 1730i.
Repealed.

        

SUBCHAPTER V-MISCELLANEOUS

1731.
Repealed.
1731a.
Penalties.
1731b.
Prohibition against transient housing.

        

(a)

Intent of Congress.

(b)

Exceptions to prohibition.

(c)

Certification as to use as requisite for insurance; exceptions to prohibition against insuring.

(d)

Enforcement by Secretary.

(e)

Definitions.

(f)

Investigation after notice of violation; cease order.

(g)

Prosecution by Attorney General for continued violation.

(h)

Judicial procedure for injunction or other order.

(i)

Injunctive relief for hotel owners.

(j)

Jurisdiction of district courts.

1732.
Separability.
1733.
Application of other laws.
1734.
Amendment, extension, or increase of commitment amounts.
1735.
Payment of certain funds to Treasury.
1735a.
Prepayment of mortgages by nonprofit educational institutions; refunds.
1735b.
Expenditures to correct or reimburse for structural or other major defects in mortgaged homes.

        

(a)

Prior to beginning of construction.

(b)

Mortgages insured on or after August 1, 1968, but prior to January 1, 1973; requirements; reimbursement from seller; insurance fund chargeable.

(c)

Regulations; finality of decision.

(d)

Mortgages insured on or after January 1, 1973, but prior to August 1, 1976; requirements; reimbursement from seller; insurance fund chargeable.

(e)

Report to Congress on effective program for protecting home buyers.

1735c.
General Insurance Fund.

        

(a)

Establishment; purpose; mortgages or loans insurable; transfers to.

(b)

Expenses chargeable to Fund.

(c)

Deposit or investment of moneys; purchase of debentures.

(d)

Credits and charges to Fund.

(e)

Restrictions on use of Fund.

(f)

Risk assessment.

1735d.
Payment of insurance benefits in cash or debentures; borrowing money from Treasury to make payments.
1735e.
Acceptance of materials or products used in structures.
1735e–1.
Use of American materials and products.
1735f.
Water and sewerage facilities.
1735f–1.
Waiver of deduction on assignment of property to Secretary in lieu of foreclosure.
1735f–2.
Uniform rehabilitation standards for housing within and without urban renewal areas.
1735f–3.
Insurance of mortgage proceeds advanced during construction or rehabilitation or prior to final endorsement of project mortgage.
1735f–4.
Minimum property standards.
1735f–5.
Prohibition against discrimination on account of sex in extension of mortgage assistance; consideration of combined income of husband and wife for purpose of extending mortgage credit; definitions.
1735f–6.
Secondary mortgages held by State or local governmental agency on insured properties.
1735f–7.
Exemption from State usury laws; applicability.
1735f–7a.
State constitution or laws limiting mortgage interest, discount points, and finance or other charges; exemption for obligations made after March 31, 1980.

        

(a)

Applicability to loan, mortgage, credit sale, or advance; applicability to deposit, account, or obligation.

(b)

Applicability to loan, mortgage, credit sale, or advance made in any State after April 1, 1980.

(c)

Applicability to loan, mortgage, credit sale, or advance secured by first lien on residential manufactured home.

(d)

Implementation of provisions applicable to residential manufactured home.

(e)

Definitions.

(f)

Rules, regulations, and interpretations.

(g)

Effective date.

1735f–8.
Time of payment of premium charges.
1735f–9.
Limitation on commitments to insure loans and mortgages.
1735f–10.
Purchaser-broker arrangement payments for insurance purposes.
1735f–11.
Direction to Secretary to require mortgagees with above normal rates of early, serious defaults and claims to submit reports and take corrective action.
1735f–12.
Assurance of adequate processing of applications for loan and mortgage insurance.

        

(a)

State offices.

(b)

Expedited procedure for RTC properties.

1735f–13.
Prohibition of requirement of minimum principal loan amount.
1735f–14.
Civil money penalties against mortgagees, lenders, and other participants in FHA programs.

        

(a)

In general.

(b)

Violations for which a penalty may be imposed.

(c)

Agency procedures.

(d)

Judicial review of agency determination.

(e)

Action to collect penalty.

(f)

Settlement by Secretary.

(g)

"Knowingly" defined.

(h)

Regulations.

(i)

Deposit of penalties in insurance funds.

1735f–15.
Civil money penalties against multifamily mortgagors.

        

(a)

In general.

(b)

Penalty for violation of agreement as condition of transfer of physical assets, flexible subsidy loan, capital improvement loan, modification of mortgage terms, or workout agreement.

(c)

Other violations.

(d)

Agency procedures.

(e)

Judicial review of agency determination.

(f)

Civil money penalties against multifamily mortgagors, general partners of partnership mortgagors, officers and directors of corporate mortgagors, and certain managing agents.

(g)

Settlement by Secretary.

(h)

"Knowingly" defined.

(i)

Regulations.

(j)

Deposit of penalties in insurance funds.

(k)

Identity of interest managing agent.

1735f–16.
Annual audited financial statements.
1735f–17.
Examinations and sanctions for certain violations.

        

(a)

Examinations and sanctions.

(b)

Monitoring and review.

1735f–18.
Information regarding early defaults and foreclosures on insured mortgages.

        

(a)

In general.

(b)

Contents.

(c)

Annual reports.

(d)

Definitions.

1735f–19.
Partial payment of claims on defaulted mortgages and in connection with mortgage restructuring.

        

(a)

Defaulted mortgages.

(b)

Existing mortgages.

(c)

Repayment.

1735f–20.
Authorization of appropriations for general and special risk insurance funds.
1735g.
Mortgage relief for homeowners who are unemployed as result of closing of Federal installation.

        

(a)

Definitions.

(b)

Application for, issuance and expiration of certificate of moratorium.

(c)

Notice to mortgagee of assumption of mortgagor's obligation by agency; amount of payments; suspension of payments by mortgagor; prohibition against further action to enforce or collect payments; liability of mortgagor upon expiration of certificate; notice of expiration of certificate.

(d)

Regulations.

(e)

Fund for extending financial assistance to distressed mortgagors.

1735h.
Repealed.

        

SUBCHAPTER VI-WAR HOUSING INSURANCE

1736.
Definitions.
1737.
Repealed.
1738.
Insurance of mortgages.

        

(a)

Relief of housing shortage; eligibility; limitations on time and amount.

(b)

Eligibility requirements.

(c)

Premium charges; payments; acceptance for insurance; preferences; adjustments and refunds.

(d)

Conclusiveness of insurance contract as to eligibility.

1739.
Mortgage insurance benefits.

        

(a)

Conveyance and assignment by mortgagee after foreclosure; debentures and certificates of claim; cost of foreclosure.

(b)

Consent to release of mortgagee or property.

(c)

Debentures; form and denomination.

(d)

Debentures; execution; negotiability; terms; tax exemptions.

(e)

Certificate of claim.

(f)

Division of excess proceeds.

(g)

Handling and disposal of property; settlement of claims.

(h)

Mortgagor's or mortgagee's interest in property or claim conveyed.

1740.
Repealed.
1741.
State taxation of realty held by Secretary.
1742.
Rules and regulations.
1743.
Insurance of mortgages.

        

(a)

Additional authorization; advances during construction.

(b)

Eligibility requirements.

(c)

Payments; default; insurance benefits for mortgagee; value of mortgage; foreclosure of mortgage.

(d)

Certificates of claim; amount.

(e)

Debentures; date of issuance; interest.

(f)

Applicability of other provisions.

(g)

Mortgages in connection with sale of property under subchapter I, II, VIII, or X of this chapter.

1744.
Insurance of loans for manufacture of houses.

        

(a)

Relief of housing shortage; advances.

(b)

Eligibility requirements.

(c)

Release of security.

(d)

Payments; default; insurance benefits for mortgagee; prerequisites; value of mortgage.

(e)

Debentures; date of issuance; interest.

(f)

Applicability of other provisions.

(g)

Disposal of evidence of debt, contract, claim, personal property, or security; collection or compromise of obligations and rights.

(h)

Premium charges; amount; manner of payment; application fees.

(i)

Insurance for accepting and discounting promissory notes; contract provisions; default in payments; remedies; debentures; interest; premium charges.

1745.
Insurance of mortgages on sales of Government housing; limits and conditions; Greenbelt towns; State housing.
1746.
Insurance on mortgages on large-scale housing projects.

        

(a)

Additional authorization; encouragement of cost-reduction techniques; advances.

(b)

Eligibility requirements.

(c)

Preferences in occupancy for veterans and hardship cases.

(d)

Applicability of other provisions.

1746a.
Termination of commitment authority under this subchapter.

        

SUBCHAPTER VII-INSURANCE FOR INVESTMENTS IN RENTAL HOUSING FOR FAMILIES OF MODERATE INCOME

1747.
Purpose of subchapter; authorization; terms and conditions; expiration of insurance contract.
1747a.
Eligibility for insurance.
1747b.
Premium charges; fees for examination and inspection.
1747c.
Rent schedules.
1747d.
Excess earnings used for amortization of original investment.
1747e.
Financial statements by Secretary.
1747f.
Payment of claims; assignment of benefits by investors.
1747g.
Debentures.

        

(a)

Acquisition of project by Secretary; issuance of debentures.

(b)

Relinquishment of project by investor.

(c)

Adjustment of difference between outstanding investment and total face value of debentures.

(d)

Termination of insurance contract by Secretary.

(e)

Issuance and execution of debentures.

(f)

Terms and conditions of debentures.

(g)

Exemption from taxation; exceptions; guaranty.

(h)

Payment of expenses and charges; collection of claims.

1747h.
Termination of insurance contract by investor.
1747i.
Repealed.
1747j.
Taxation of real property.
1747k.
Rules and regulations.
1747l.
Definitions.

        

SUBCHAPTER VIII-ARMED SERVICES HOUSING MORTGAGE INSURANCE

1748.
Definitions.
1748a.
Repealed.
1748b.
Insurance of mortgages.

        

(a)

Aggregate amount of insurance; termination date.

(b)

Eligibility for insurance.

(c)

Premium charges.

(d)

Default by mortgagor; rights of mortgagee.

(e)

Debentures; issuance; form and denomination.

(f)

Debentures; execution; signature; negotiability; interest rate; tax exemption; guarantee.

(g)

Claim certificates.

(h)

Laws applicable.

(i)

Secretary's additional powers to insure certain mortgages.

(j)

Conclusiveness and validity of insurance contract.

(k)

Certification as to overtime wages paid to laborers and mechanics.

1748c.
Repealed.
1748d.
Lease of property; terms and conditions.
1748e.
Mortgages on property in Alaska.
1748f.
Rules and regulations.
1748g.
Cost certification.
1748g–1, 1748h.
Omitted.
1748h–1.
Civilian employees of Armed Forces.

        

(a)

Requirements; certificate of need for housing and employment status.

(b)

Certification of housing need to Secretary; guaranty from loss; authorization of appropriations.

(c)

Economic soundness of property.

(d)

Insurance benefits to which mortgagee entitled.

(e)

Payment of insurance; meaning of terms.

(f)

Provisions of subchapter applicable; termination date.

(g)

Housing for persons employed by National Aeronautics and Space Administration or Atomic Energy Commission; guaranty from loss; definitions.

1748h–2.
Insurance of mortgages for defense housing for impacted areas.

        

(a)

Authorization.

(b)

Eligibility requirements.

(c)

Economical soundness of property or project.

(d)

Rental conditions; preferences and priorities in the sale or rental of dwellings.

(e)

Property held by mortgagor approved by Secretary; acquisition of stock or interest; redemption.

(f)

Mortgage limitations for multifamily rental property or project.

(g)

Mortgage limitation for property or project constructed for eventual sale of single-family dwellings.

(h)

Amortization; interest; release of part of mortgaged property from lien; replacement of certain mortgages by individual mortgages; commercial and community facilities.

(i)

Limitation on aggregate number of dwelling units.

(j)

Applicability of other laws.

(k)

Aggregate amount of mortgages insured; termination date.

1748h–3.
Payments in lieu of taxes; limitations; exemption from taxation.
1748i.
Omitted.

        

SUBCHAPTER IX-HOUSING FOR EDUCATIONAL INSTITUTIONS

1749 to 1749c.
Repealed.
1749d.
Cost of inspections and of providing representatives.

        

SUBCHAPTER IX–A-MORTGAGE INSURANCE FOR LAND DEVELOPMENT AND NEW COMMUNITIES

1749aa to 1749ll. Repealed.

        

SUBCHAPTER IX–B-MORTGAGE INSURANCE FOR GROUP PRACTICE FACILITIES AND MEDICAL PRACTICE FACILITIES

1749aaa.
Insurance of mortgages.

        

(a)

Authority of Secretary; termination date.

(b)

Eligibility for insurance.

(c)

Replacement cost of property; maturity; amortization; interest rate.

(d)

Conclusiveness of insurance contract as to eligibility; validity of contract incontestable.

(e)

Undertaking.

(f)

Recordkeeping; reports; examination and audit.

1749aaa–1.
Premiums and other charges.
1749aaa–2.
Payment of insurance benefits.
1749aaa–3.
Regulations.
1749aaa–4.
Administration.

        

(a)

Technical assistance.

(b)

Utilization of services and facilities of Federal agencies; payment; advances or reimbursement.

1749aaa–5.
Definitions.

        

SUBCHAPTER IX–C-NATIONAL INSURANCE DEVELOPMENT PROGRAM

1749bbb.
Program authority; termination date; report to the Congress.
1749bbb–1.
Advisory Board.

        

(a)

Establishment; membership; Chairman and Vice Chairman; term; vacancies.

(b)

Meetings.

(c)

Functions.

(d)

Compensation and travel expenses.

1749bbb–2.
Definitions.

        

Part A-Statewide Plans to Assure Fair Access to Insurance Requirement

1749bbb–3.
FAIR plans.

        

(a)

Cooperation by insurers with State insurance authorities.

(b)

Approval and administration of plans; provisions of plans.

(c)

Membership of board of directors, board, etc., for each plan.

1749bbb–4.
All-industry placement facility.
1749bbb–5.
Industry cooperation.
1749bbb–6.
Plan evaluation; modification or waiver of plan criteria.
1749bbb–6a.
Office of Review and Compliance.

        

Part B-Reinsurance Coverage

1749bbb–7.
Reinsurance of losses from riots or civil disorders.

        

(a)

Authorization; lines of property insurance included.

(b)

Temporary coverage.

(c)

Participation in State plan or pool.

1749bbb–8.
Reinsurance agreements and premiums.

        

(a)

Authorization to enter into contracts, agreements, treaties, or other arrangements for reinsurance coverage.

(b)

Reimbursement for total proved and approved claims for covered losses.

(c)

Terms and conditions of contracts, etc., uniformity of rates, terms and conditions.

(d)

Expiration date of contracts, etc.

1749bbb–9.
Conditions of reinsurance.
1749bbb–10.
Recovery of premiums; jurisdiction; limitations.

        

Part C-Federal Insurance Against Burglary and Theft

1749bbb–10a.
Review and program authority.

        

(a)

Review of market availability.

(b)

Government crime insurance.

(c)

Termination of insurance.

1749bbb–10b.
Use of existing facilities and services.
1749bbb–10c.
Affordable rates; establishment; factors considered; uniform national rates; periodic modification.
1749bbb–10d.
Reports on operations.

        

Part D-General Provisions

1749bbb–11.
Submission of claims; judicial review; jurisdiction; limitations.
1749bbb–12.
Fiscal intermediaries and servicing agents.
1749bbb–13.
National Insurance Development Fund.

        

(a)

Establishment.

(b)

Credits to fund.

(c)

Investment in obligations issued or guaranteed by United States.

(d)

Annual budget.

1749bbb–14.
Records, annual statement, and audits.

        

(a)

Information reports for Director.

(b)

Filing of annual statement.

(c)

Recordkeeping requirements.

(d)

Investigation and audit.

1749bbb–15.
Study of reinsurance and other programs; report to the President and Congress.
1749bbb–16.
Other studies; cooperation with State insurance authorities and private insurance industry.
1749bbb–17.
General powers of Director.
1749bbb–18.
Utilization of services and facilities of other agencies.
1749bbb–19.
Advance payments.
1749bbb–20.
Taxation.
1749bbb–21.
Authorization of appropriations.

        

SUBCHAPTER X-NATIONAL DEFENSE HOUSING INSURANCE

1750.
Definitions.
1750a, 1750a–1.
Repealed or Omitted.
1750b.
Insurance in critical areas.

        

(a)

Limitations; termination of certain commitments; requirements; discrimination against children.

(b)

Eligibility requirements.

(c)

Premium charges; payments; needs of national defense as prerequisite; adjustments and refunds.

(d)

Preference or priority in purchasing or renting properties.

(e)

Conclusiveness of insurance contract as to eligibility.

1750c.
Mortgage insurance benefits.

        

(a)

Conveyance and assignment by mortgagee after foreclosure; debentures and certificates of claim; cost of foreclosure.

(b)

Consent to release of mortgagee or property.

(c)

Debentures; form and denomination.

(d)

Debentures; execution; negotiability; terms; tax exemptions.

(e)

Certificate of claim; division of excess proceeds.

(f)

Handling and disposal of property; settlement of claims.

(g)

Mortgagor's or mortgagee's interest in property or claim conveyed.

1750d.
Repealed.
1750e.
Taxation.
1750f.
Rules and regulations.
1750g.
Insurance of additional mortgages.

        

(a)

Authorization.

(b)

Eligibility requirements; release of part of property.

(c)

Default; debentures; cash adjustment; certificate of claim.

(d)

Certificate of claim; contents and payment.

(e)

Debentures; issuance and payment in accordance with section 1750c(c), (d) of this title.

(f)

Applicability of section 1713(k), (l) of this title.

(g)

Applications under section 1743; credit for fees upon reapplication under this section.

(h)

Preferences.

SUBCHAPTER XI-VOLUNTARY HOME MORTGAGE CREDIT

1750aa to 1750jj. Omitted.

        

Chapter Referred to in Other Sections

This chapter is referred to in sections 1441a, 1454, 1464, 1701r–1, 1701z–7, 1701z–11, 1709a, 1715z–1a, 1715z–1c, 1715z–4a, 1735f–7a, 1735g, 1786, 1831q, 2710, 3802, 4901 of this title; title 7 section 1933; title 11 section 362; title 15 sections 77ddd, 2227; title 38 section 3704; title 40 section 474; title 40 App. section 213; title 42 sections 1382a, 1437f, 1490a, 1490p–2, 2322, 3012, 3535, 12709, 12852, 13632; title 48 section 1425.