12 U.S.C. 1735f–6: Secondary mortgages held by State or local governmental agency on insured propertiesText contains those laws in effect through Public Law 119-120 (October 7, 2026).
From Title 12-BANKS AND BANKINGCHAPTER 13-NATIONAL HOUSING
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§1735f–6. Secondary mortgages held by State or local governmental agency on insured properties
In carrying out the provisions of subchapter II of this chapter with respect to insuring mortgages secured by a one- to four-family dwelling unit, the Secretary may not deny such insurance for any such mortgage solely because the dwelling unit which secures such mortgage will be subject to a secondary mortgage or loan made or insured, or other secondary lien held, by any State or local governmental agency or instrumentality under terms and conditions approved by the Secretary.
( June 27, 1934, ch. 847 , title V, § 528, as added Pub. L. 95–557, title III, § 323 , Oct. 31, 1978 , 92 Stat. 2102 .)