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12 U.S.C. § 1430c — Housing goals
Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** The Director shall establish housing goals with respect to the purchase of mortgages, if any, by the Federal Home Loan Banks. Such goals shall be consistent with the goals established under sections 4561 through 4564 of this title.
**(b) Considerations** In establishing the goals required by subsection (a), the Director shall consider the unique mission and ownership structure of the Federal Home Loan Banks.
**(c) Transition period** To facilitate an orderly transition, the Director shall establish interim target goals for purposes of this section for each of the 2 calendar years following July 30, 2008.
**(d) Monitoring and enforcement of goals** The requirements of section 4566 11 See References in Text note below. of this title, shall apply to this section, in the same manner and to the same extent as that section applies to the Federal housing enterprises.
**(e) Annual report** The Director shall annually report to Congress on the performance of the Banks in meeting the goals established under this section.
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**(a) In general** The Director shall establish housing goals with respect to the purchase of mortgages, if any, by the Federal Home Loan Banks. Such goals shall be consistent with the goals established under sections 4561 through 4564 of this title.
**(b) Considerations** In establishing the goals required by subsection (a), the Director shall consider the unique mission and ownership structure of the Federal Home Loan Banks.
**(c) Transition period** To facilitate an orderly transition, the Director shall establish interim target goals for purposes of this section for each of the 2 calendar years following July 30, 2008.
**(d) Monitoring and enforcement of goals** The requirements of section 4566 11 See References in Text note below. of this title, shall apply to this section, in the same manner and to the same extent as that section applies to the Federal housing enterprises.
**(e) Annual report** The Director shall annually report to Congress on the performance of the Banks in meeting the goals established under this section.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment of goal**
(1) **In general** — The Director shall, by regulation, establish a single annual goal, by either unit or dollar volume, of purchases by each enterprise of mortgages on multifamily housing that finance dwelling units affordable to low-income families.
(2) **Additional requirements for units affordable to very low-income families** — When establishing the goal under this section, the Director shall establish additional requirements for the purchase by each enterprise of mortgages on multifamily housing that finance dwelling units affordable to very low-income families.
(3) **Reporting on smaller properties** — The Director shall require each enterprise to report on the purchase by each enterprise of multifamily housing of a smaller or limited size that is affordable to low-income families, which may be based on multifamily projects of 5 to 50 units (as such numbers may be adjusted by the Director) or on mortgages of up to $5,000,000 (as such amount may be adjusted by the Director), and may, by regulation, establish such aditional 11 So in original. requirements related to such units.
(4) **Factors** — In establishing the goal and additional requirements under this section, the Director shall not consider segments of the market determined to be inconsistent with safety and soundness or unauthorized for purchase by the enterprises, and shall take into consideration—
(A) national multifamily mortgage credit needs and the ability of the enterprise to provide additional liquidity and stability for the multifamily mortgage market;
(B) the performance and effort of the enterprise in making mortgage credit available for multifamily housing in previous years;
(C) the size of the multifamily mortgage market for housing affordable to low-i
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Federal law — U.S. Code and appendices · legal_authorities
Page 302
TITLE 12—BANKS AND BANKING
§ 1430c
1 See References in Text note below.
title VII, § 701(b)(1), (3)(A), Aug. 9, 1989, 103 Stat.
412; Pub. L. 102–550, title XIII, § 1392(b), Oct. 28,
1992, 106 Stat. 4009; Pub. L. 110–289, div. A, title
II, § 1204(8), July 30, 2008, 122 Stat. 2786.)
Editorial Notes
REFERENCES IN TEXT
The National Housing Act, referred to in text, is act
June 27, 1934, ch. 847, 48 Stat. 1246. Title II of the Act
is classified generally to subchapter II (§ 1707 et seq.) of
chapter 13 of this title. For complete classification of
this Act to the Code, see section 1701 of this title and
Tables.
AMENDMENTS
2008—Subsec. (a). Pub. L. 110–289 substituted ‘‘the Di-
rector’’ for ‘‘the Board’’.
1992—Pub. L. 102–550 designated existing provisions as
subsec. (a), inserted heading, and added subsec. (b).
1989—Pub. L. 101–73 substituted ‘‘Board’’ for ‘‘Federal
Home Loan Bank Board’’.
§ 1430c. Housing goals
(a) In general
The Director shall establish housing goals
with respect to the purchase of mortgages, if
any, by the Federal Home Loan Banks. Such
goals shall be consistent with the goals estab-
lished under sections 4561 through 4564 of this
title.
(b) Considerations
In establishing the goals required by sub-
section (a), the Director shall consider the
unique mission and ownership structure of the
Federal Home Loan Banks.
(c) Transition period
To facilitate an orderly transition, the Direc-
tor shall establish interim target goals for pur-
poses of this section for each of the 2 calendar
years following July 30, 2008.
(d) Monitoring and enforcement of goals
The requirements of section 4566 1 of this title,
shall apply to this section, in the same manner
and to the same extent as that section applies to
the Federal housing
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