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12 U.S.C. § 1717 — Investment of funds
Federal law — U.S. Code and appendices · legal_authorities
Moneys in the Fund not needed for the current operations of the Department of Housing and Urban Development related to insurance under [section 1709 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1709&num=0&edition=prelim) shall be deposited with the Treasurer of the United States to the credit of the Fund, or invested in bonds or other obligations of, or in bonds or other obligations guaranteed as to principal and interest by, the United States or any agency of the United States: Provided, That such moneys shall to the maximum extent feasible be invested in such bonds or other obligations the proceeds of which will be used to directly support the residential mortgage market. The Secretary may, with the approval of the Secretary of the Treasury, purchase in the open market debentures issued under the provisions of [section 1710 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1710&num=0&edition=prelim). Such purchases shall be made at a price which will provide an investment yield of not less than the yield obtainable from other investments authorized by this section. Debentures so purchased shall be canceled and not reissued, and the several group accounts to which such debentures have been charged shall be charged with the amounts used in making such purchases.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1717
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Stable record: federal_law:legal_authorities:record_usc_210870f327d06323fd356a9d
Source file: Laws/federal/codes/united-states-code/title-12/section-1717-investment-of-funds--9aafe799bd.md
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Source location: Title 12, Chapter 13, § 1717; chapter-013-national-housing.md
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Moneys in the Fund not needed for the current operations of the Department of Housing and Urban Development related to insurance under [section 1709 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1709&num=0&edition=prelim) shall be deposited with the Treasurer of the United States to the credit of the Fund, or invested in bonds or other obligations of, or in bonds or other obligations guaranteed as to principal and interest by, the United States or any agency of the United States: Provided, That such moneys shall to the maximum extent feasible be invested in such bonds or other obligations the proceeds of which will be used to directly support the residential mortgage market. The Secretary may, with the approval of the Secretary of the Treasury, purchase in the open market debentures issued under the provisions of [section 1710 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1710&num=0&edition=prelim). Such purchases shall be made at a price which will provide an investment yield of not less than the yield obtainable from other investments authorized by this section. Debentures so purchased shall be canceled and not reissued, and the several group accounts to which such debentures have been charged shall be charged with the amounts used in making such purchases.
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section, acts Apr. 20, 1950, ch. 94, title V, § 504, 64 Stat. 81; Sept. 1, 1951, ch. 378, title VI, § 613(a), 65 Stat. 316; June 30, 1953, ch. 170, § 23, 67 Stat. 127, related to control of charges and fees, imposed by lenders upon builders and purchasers in connection with home loans, by the Federal Housing Commissioner and the Administrator of Veterans’ Affairs.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1710
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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) Authority for purchase and sale; residential mortgages; conventional mortgages; terms and conditions of sale or other disposition; lending activities**
(1) The Corporation is authorized to purchase, and make commitments to purchase, residential mortgages. The Corporation may hold and deal with, and sell or otherwise dispose of, pursuant to commitments or otherwise, any such mortgage or interest therein. The operations of the Corporation under this section shall be confined so far as practicable to residential mortgages which are deemed by the Corporation to be of such quality, type, and class as to meet generally the purchase standards imposed by private institutional mortgage investors. The Corporation may establish requirements, and impose charges or fees, which may be regarded as elements of pricing, for different classes of sellers or servicers, and for such purposes the Corporation is authorized to classify sellers or servicers according to type, size, location, assets, or, without limitation on the generality of the foregoing, on such other basis or bases of differentiation as the Corporation may consider necessary or appropriate to effectuate the purposes or provisions of this chapter. The Corporation may specify requirements concerning among other things, (A) minimum net worth; (B) supervisory mechanisms; (C) warranty compensation mechanisms; (D) prior approval of facilities; (E) prior origination and servicing experience with respect to different types of mortgages; (F) capital contributions and substitutes; (G) mortgage purchase volume limits; and (H) reduction of mortgage purchases during periods of borrowing. With respect to any particular type of seller, the Corporation shall not be required to make available programs involving prior approval of mort
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1454
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Federal law — U.S. Code and appendices · legal_authorities
This chapter may be cited as the “National Housing Act.”
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1702
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Federal law — U.S. Code and appendices · legal_authorities
The Congress declares that the purposes of this subchapter are to establish secondary market facilities for residential mortgages, to provide that the operations thereof shall be financed by private capital to the maximum extent feasible, and to authorize such facilities to—
(1) provide stability in the secondary market for residential mortgages;
(2) respond appropriately to the private capital market;
(3) provide ongoing assistance to the secondary market for residential mortgages (including activities relating to mortgages on housing for low- and moderate-income families involving a reasonable economic return that may be less than the return earned on other activities) by increasing the liquidity of mortgage investments and improving the distribution of investment capital available for residential mortgage financing;
(4) promote access to mortgage credit throughout the Nation (including central cities, rural areas, and underserved areas) by increasing the liquidity of mortgage investments and improving the distribution of investment capital available for residential mortgage financing; and
(5) manage and liquidate federally owned mortgage portfolios in an orderly manner, with a minimum of adverse effect upon the residential mortgage market and minimum loss to the Federal Government.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1744
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Common stock; preferred stock; transferability of shares** The corporation shall have common stock, without par value, which shall be vested with all voting rights, each share being entitled to one vote with rights of cumulative voting at all elections of directors. The corporation may eliminate such rights of cumulative voting by a resolution adopted by its board of directors and approved by the holders of a majority of the shares of common stock voting in person or by proxy at the annual meeting, or other special meeting, at which such resolution is considered. The corporation may have preferred stock on such terms and conditions as the board of directors shall prescribe. The free transferability of the stock at all times to any person, firm, corporation, or other entity shall not be restricted except that, as to the corporation, it shall be transferable only on the books of the corporation. The corporation may issue shares of common stock in return for appropriate payments into capital or capital and surplus.
**(b) Fees and charges; annual transfer of earnings to general surplus account**
(1) The corporation may impose charges or fees, which may be regarded as elements of pricing, with the objective that all costs and expenses of the operations of the corporation should be within its income derived from such operations and that such operations should be fully self-supporting.
(2) All earnings from the operations of the corporation shall annually be transferred to the general surplus account of the corporation. At any time, funds of the general surplus account may, in the discretion of the board of directors, be transferred to reserves.
**(c) Capital distributions from general surplus account; minimum capitalization levels**
(1) Except as provided in paragr
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1747a
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Federal law — U.S. Code and appendices · legal_authorities
The functions of the Housing and Home Finance Administrator (including the function of making payments to the Secretary of the Treasury) under section 2 of Reorganization Plan Numbered 22 of 1950, together with the notes and capital stock of the Federal National Mortgage Association held by said Administrator thereunder, are transferred to the Federal National Mortgage Association.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1747j
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Federal law — U.S. Code and appendices · legal_authorities
Whoever, except as permitted by the laws of the United States, uses the words “national”, “Federal”, “United States”, “reserve”, or “Deposit Insurance” as part of the business or firm name of a person, corporation, partnership, business trust, association or other business entity engaged in the banking, loan, building and loan, brokerage, factorage, insurance, indemnity, savings or trust business; or
Source: Supplied U.S. Code snapshot — release unconfirmed · 18 U.S.C. § 709
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Federal law — U.S. Code and appendices · legal_authorities
Income derived by a foreign central bank of issue from obligations of the United States or of any agency or instrumentality thereof (including beneficial interests, participations, and other instruments issued under section 302(c) of the Federal National Mortgage Association Charter Act ([12 U.S.C. 1717](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1717&num=0&edition=prelim))) which are owned by such foreign central bank of issue, or derived from interest on deposits with persons carrying on the banking business, shall not be included in gross income and shall be exempt from taxation under this subtitle unless such obligations or deposits are held for, or used in connection with, the conduct of commercial banking functions or other commercial activities. For purposes of the preceding sentence the Bank for International Settlements shall be treated as a foreign central bank of issue.
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 895
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** Except as provided in subsection (h), notwithstanding the provisions of any other law, with respect to matters arising by reason of this chapter, the Secretary may—
(1) sue and be sued in the Secretary’s official capacity in any court of competent jurisdiction, State or Federal, but nothing in this clause shall be construed as authorizing garnishment or attachment against the Secretary, the Department of Veterans Affairs, or any of its employees;
(2) subject to specific limitations in this chapter, consent to the modification, with respect to rate of interest, time of payment of principal or interest or any portion thereof, security or other provisions of any note, contract, mortgage or other instrument securing a loan which has been guaranteed, insured, made or acquired under this chapter;
(3) pay, or compromise, any claim on, or arising because of, any such guaranty or insurance;
(4) pay, compromise, waive or release any right, title, claim, lien or demand, however acquired, including any equity or any right of redemption;
(5) purchase at any sale, public or private, upon such terms and for such prices as the Secretary determines to be reasonable, and take title to, property, real, personal or mixed; and similarly sell, at public or private sale, exchange, assign, convey, or otherwise dispose of any such property; and
(6) complete, administer, operate, obtain and pay for insurance on, and maintain, renovate, repair, modernize, lease, or otherwise deal with any property acquired or held pursuant to this chapter. The acquisition of any such property shall not deprive any State or political subdivision thereof of its civil or criminal jurisdiction of, on, or over such property (including power to tax) or impair the rights under the State or local law of any
Source: Supplied U.S. Code snapshot — release unconfirmed · 38 U.S.C. § 3720
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