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12 U.S.C. § 4633 — Reviews of enterprise assets and liabilities

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 4633 — Reviews of enterprise assets and liabilities

**(a) In general** The Director shall, by regulation, establish criteria governing the portfolio holdings of the enterprises, to ensure that the holdings are backed by sufficient capital and consistent with the mission and the safe and sound operations of the enterprises. In establishing such criteria, the Director shall consider the ability of the enterprises to provide a liquid secondary market through securitization activities, the portfolio holdings in relation to the overall mortgage market, and adherence to the standards specified in [section 4513b of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4513b&num=0&edition=prelim). **(b) Temporary adjustments** The Director may, by order, make temporary adjustments to the established standards for an enterprise or both enterprises, such as during times of economic distress or market disruption. **(c) Authority to require disposition or acquisition** The Director shall monitor the portfolio of each enterprise. Pursuant to subsection (a) and notwithstanding the capital classifications of the enterprises, the Director may, by order, require an enterprise, under such terms and conditions as the Director determines to be appropriate, to dispose of or acquire any asset, if the Director determines that such action is consistent with the purposes of this Act or any of the authorizing statutes.

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Source file: Laws/federal/codes/united-states-code/title-12/section-4633-reviews-of-enterprise-assets-and-liabilities--70f35272dd.md
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Source location: Title 12, Chapter 46, § 4633; chapter-046-government-sponsored-enterprises.md

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Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 5301 — Congressional findings and declaration of purpose

**(a) Critical social, economic, and environmental problems facing Nation’s urban communities** The Congress finds and declares that the Nation’s cities, towns, and smaller urban communities face critical social, economic, and environmental problems arising in significant measure from— (1) the growth of population in metropolitan and other urban areas, and the concentration of persons of lower income in central cities; (2) inadequate public and private investment and reinvestment in housing and other physical facilities, and related public and social services, resulting in the growth and persistence of urban slums and blight and the marked deterioration of the quality of the urban environment; and (3) increasing energy costs which have seriously undermined the quality and overall effectiveness of local community and housing development activities. **(b) Establishment and maintenance of viable urban communities; systematic and sustained action by Federal, State, and local governments; expansion of and continuity in Federal assistance; increased private investment; streamlining programs and improvement of functioning of agencies; action to address consequences of scarce fuel supplies** The Congress further finds and declares that the future welfare of the Nation and the well-being of its citizens depend on the establishment and maintenance of viable urban communities as social, economic, and political entities, and require— (1) systematic and sustained action by Federal, State, and local governments to eliminate blight, to conserve and renew older urban areas, to improve the living environment of low- and moderate-income families, and to develop new centers of population growth and economic activity; (2) substantial expansion of and greater continuity in the scope a

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 4513b — Director

**(a) Establishment of position** There is established the position of the Director of the Agency, who shall be the head of the Agency. **(b) Appointment; term** (1) **Appointment** — The Director shall be appointed by the President, by and with the advice and consent of the Senate, from among individuals who are citizens of the United States, have a demonstrated understanding of financial management or oversight, and have a demonstrated understanding of capital markets, including the mortgage securities markets and housing finance. (2) **Term** — The Director shall be appointed for a term of 5 years, unless removed before the end of such term for cause by the President. (3) **Vacancy** — A vacancy in the position of Director that occurs before the expiration of the term for which a Director was appointed shall be filled in the manner established under paragraph (1), and the Director appointed to fill such vacancy shall be appointed only for the remainder of such term. (4) **Service after end of term** — An individual may serve as the Director after the expiration of the term for which appointed until a successor has been appointed. (5) **Transitional provision** — Notwithstanding paragraphs (1) and (2), during the period beginning on the effective date of the Federal Housing Finance Regulatory Reform Act of 2008, and ending on the date on which the Director is appointed and confirmed, the person serving as the Director of the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development on that effective date shall act for all purposes as, and with the full powers of, the Director. **(c) Deputy Director of the Division of Enterprise Regulation** (1) **In general** — The Agency shall have a Deputy Director of the Division of E

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 4637 — Civil money penalties

**(a) In general** The Director may impose a civil money penalty in accordance with this section on any regulated entity or any entity-affiliated party. The Director shall not impose a civil penalty in accordance with this section on any regulated entity or any entity-affiliated party for any violation that is addressed under [section 4585(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4585/a&num=0&edition=prelim). **(b) Amount of penalty** (1) **First tier** — A regulated entity or entity-affiliated party shall forfeit and pay a civil penalty of not more than $10,000 for each day during which a violation continues, if such regulated entity or party— (A) violates any provision of this chapter, the authorizing statutes, or any order, condition, rule, or regulation under this chapter or any authorizing statute; (B) violates any final or temporary order or notice issued pursuant to this chapter; (C) violates any condition imposed in writing by the Director in connection with the grant of any application or other request by such regulated entity; or (D) violates any written agreement between the regulated entity and the Director. (2) **Second tier** — Notwithstanding paragraph (1), a regulated entity or entity-affiliated party shall forfeit and pay a civil penalty of not more than $50,000 for each day during which a violation, practice, or breach continues, if— (A) the regulated entity or entity-affiliated party, respectively— (i) commits any violation described in any subparagraph of paragraph (1); (ii) recklessly engages in an unsafe or unsound practice in conducting the affairs of the regulated entity; or (iii) breaches any fiduciary duty; and (B) the violation, practice, or breach— (

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 4633 — Hearings

Page 1717 TITLE 12—BANKS AND BANKING § 4634 1 So in original. Probably should be followed by a comma. title. Such court shall have jurisdiction to issue such injunction. (e) Enforcement by Attorney General In the case of violation or threatened viola- tion of, or failure to obey, a temporary order issued pursuant to this section, the Director may bring an action in the United States Dis- trict Court for the District of Columbia for an injunction to enforce such order. If the court finds any such violation, threatened violation, or failure to obey, the court shall issue such in- junction. (Pub. L. 102–550, title XIII, § 1372, Oct. 28, 1992, 106 Stat. 3988; Pub. L. 110–289, div. A, title I, § 1152, July 30, 2008, 122 Stat. 2769.) Editorial Notes AMENDMENTS 2008—Subsec. (a). Pub. L. 110–289, § 1152(1), added sub- sec. (a) and struck out former subsec. (a) which related to grounds for issuance and scope of temporary cease- and-desist orders. Subsec. (b). Pub. L. 110–289, § 1152(2), substituted ‘‘di- rector, or entity-affiliated party’’ for ‘‘or director’’ and ‘‘regulated entity’’ for ‘‘enterprise’’. Subsec. (c). Pub. L. 110–289, § 1152(3), substituted ‘‘reg- ulated entity’’ for ‘‘enterprise’’ wherever appearing. Subsec. (d). Pub. L. 110–289, § 1152(4), substituted ‘‘A regulated entity’’ for ‘‘An enterprise’’ and ‘‘director, or entity-affiliated party’’ for ‘‘or director’’ in two places. Subsec. (e). Pub. L. 110–289, § 1152(5)(B), which directed the striking of ‘‘or may, under the direction and con- trol of the Attorney General, bring such action’’, was executed by striking ‘‘or may, under the direction and control of the Attorney General, bring such an action’’ after ‘‘such order’’ to reflect the probable intent of Congress. Pub. L. 110–289, § 11

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