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12 U.S.C. § 1723d — Insurance of mortgage where mortgagor is not occupant of property
Federal law — U.S. Code and appendices · legal_authorities
The Secretary is hereby authorized to insure any mortgage otherwise eligible for insurance under any of the provisions of this chapter without regard to any requirement with respect to the occupancy of the mortgagor of the property at the time of insurance, where the Secretary is satisfied that the inability of the mortgagor to meet such requirement is by reason of his entry on active duty in a uniformed service subsequent to the filing of an application for insurance and the mortgagor expresses an intent to meet such requirement upon his release from active duty.
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Source file: Laws/federal/codes/united-states-code/title-12/section-1723d-insurance-of-mortgage-where-mortgagor-is-not-occupant-of-property--8a839367af.md
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Passage SHA-256: 47e945a3a5b46c9c68c6317d65b752e7934e663467966512edc6c7a390776a01
Source location: Title 12, Chapter 13, § 1723d; chapter-013-national-housing.md
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The Secretary is hereby authorized to insure any mortgage otherwise eligible for insurance under any of the provisions of this chapter without regard to any requirement with respect to the occupancy of the mortgagor of the property at the time of insurance, where the Secretary is satisfied that the inability of the mortgagor to meet such requirement is by reason of his entry on active duty in a uniformed service subsequent to the filing of an application for insurance and the mortgagor expresses an intent to meet such requirement upon his release from active duty.
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Federal law — U.S. Code and appendices · legal_authorities
The Secretary shall transfer all assets and liabilities of the fund established pursuant to section 717 of the Housing and Urban Development Act of 1970, as amended ([42 U.S.C. 4518](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section4518&num=0&edition=prelim)), to the Revolving fund (liquidating programs) established pursuant to title II of the Independent Offices Appropriation Act, 1955, as amended ([12 U.S.C. 1701g–5](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1701g-5&num=0&edition=prelim)).
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1709
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Creation; succession; principal and other offices**
(1) There is created a body corporate to be known as the “Federal National Mortgage Association”, which shall be in the Department of Housing and Urban Development. The Association shall have succession until dissolved by Act of Congress. It shall maintain its principal office in the District of Columbia and shall be deemed, for purposes of venue in civil actions, to be a resident thereof. Agencies or offices may be established by the Association in such other place or places as it may deem necessary or appropriate in the conduct of its business.
(2) On September 1, 1968, the body corporate described in the foregoing paragraph shall cease to exist in that form and is hereby partitioned into two separate and distinct bodies corporate, each of which shall have continuity and corporate succession as a separated portion of the previously existing body corporate, as follows:
(A) One of such separated portions shall be a body corporate without capital stock to be known as Government National Mortgage Association (hereinafter referred to as the “Association”), which shall be in the Department of Housing and Urban Development and which shall retain the assets and liabilities acquired and incurred under sections 1720 11 See References in Text note below. and 1721 of this title prior to such date, including any and all liabilities incurred pursuant to subsection (c). The Association shall have succession until dissolved by Act of Congress. It shall maintain its principal office in the District of Columbia and shall be deemed, for purposes of venue in civil actions, to be a resident thereof. Agencies or offices may be established by the Association in such other place or places as it may deem necessary or appropriate i
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1746a
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Federal law — U.S. Code and appendices · legal_authorities
Page 777
TITLE 12—BANKS AND BANKING
§ 1723d
wise provided by law. See sections 1001(2) and 1013 of
Title 5, Government Organization and Employees.
PROPOSAL BY FEDERAL NATIONAL MORTGAGE ASSOCIA-
TION
RESPECTING
MORTGAGE-BACKED
SECURITIES
PROGRAM; APPROVAL, ETC.
Pub. L. 96–399, title III, § 330, Oct. 8, 1980, 94 Stat. 1652,
provided that: ‘‘If the Federal National Mortgage Asso-
ciation submits to the Secretary of Housing and Urban
Development or the Secretary of the Treasury, after
the date of enactment of this section [Oct. 8, 1980], a
proposal with respect to undertaking a mortgage-
backed securities program, the Secretary of Housing
and Urban Development or the Secretary of the Treas-
ury, as the case may be, shall, within 90 days after sub-
mission of such proposal, approve the proposal or trans-
mit to the Congress a report explaining why the pro-
posal has not been approved.’’
Executive Documents
TRANSFER OF FUNCTIONS
‘‘Director of the Office of Personnel Management’’
substituted for ‘‘United States Civil Service Commis-
sion’’ pursuant to Reorg. Plan No. 2 of 1978, § 102, 43 F.R.
36037, 92 Stat. 3783, set out under section 1101 of Title
5, Government Organization and Employees, which
transferred functions vested by statute in United
States Civil Service Commission to Director of Office
of Personnel Management (except as otherwise speci-
fied), effective Jan. 1, 1979, as provided by section 1–102
of Ex. Ord. No. 12107, Dec. 28, 1978, 44 F.R. 1055, set out
under section 1101 of Title 5.
§ 1723b. Investment of funds
Moneys of the Association not invested in
mortgages or other security holdings or in oper-
ating facilities shall be kept in cash on hand or
on deposit, or invested in obligations of the
United States or guaranteed thereby, or in
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1723d
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