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12 U.S.C. § 4567 — Discretionary adjustment of housing goals
Federal law — U.S. Code and appendices · legal_authorities
**(a) Authority** An enterprise may petition the Director in writing at any time during a year to reduce the level of any goal or subgoal for such year established pursuant to this subpart.
**(b) Standard for reduction** The Director may reduce the level for a goal or subgoal pursuant to such a petition only if—
(1) market and economic conditions or the financial condition of the enterprise require such action; or
(2) efforts to meet the goal or subgoal would result in the constraint of liquidity, over-investment in certain market segments, or other consequences contrary to the intent of this subpart, or [section 1716(3) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1716/3&num=0&edition=prelim) or section 301(b)(3) of the Federal Home Loan Mortgage Corporation Act ([12 U.S.C. 1451](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1451&num=0&edition=prelim) note), as applicable.
**(c) Determination** The Director shall, promptly upon receipt of a petition regarding a reduction, seek public comment on the reduction for a period of 30 days. The Director shall make a determination regarding any proposed reduction within 30 days after the expiration of such public comment period. The Director may extend such determination period for a single additional 15-day period, but only if the Director requests additional information from the enterprise.
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Source file: Laws/federal/codes/united-states-code/title-12/section-4567-discretionary-adjustment-of-housing-goals--90e61b4da7.md
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Source location: Title 12, Chapter 46, § 4567; chapter-046-government-sponsored-enterprises.md
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**(a) Authority** An enterprise may petition the Director in writing at any time during a year to reduce the level of any goal or subgoal for such year established pursuant to this subpart.
**(b) Standard for reduction** The Director may reduce the level for a goal or subgoal pursuant to such a petition only if—
(1) market and economic conditions or the financial condition of the enterprise require such action; or
(2) efforts to meet the goal or subgoal would result in the constraint of liquidity, over-investment in certain market segments, or other consequences contrary to the intent of this subpart, or [section 1716(3) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1716/3&num=0&edition=prelim) or section 301(b)(3) of the Federal Home Loan Mortgage Corporation Act ([12 U.S.C. 1451](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1451&num=0&edition=prelim) note), as applicable.
**(c) Determination** The Director shall, promptly upon receipt of a petition regarding a reduction, seek public comment on the reduction for a period of 30 days. The Director shall make a determination regarding any proposed reduction within 30 days after the expiration of such public comment period. The Director may extend such determination period for a single additional 15-day period, but only if the Director requests additional information from the enterprise.
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Federal law — U.S. Code and appendices · legal_authorities
As used in this chapter—
**(a)** The term “Board of Directors” means the Board of Directors of the Corporation.
**(b)** The term “Corporation” means the Federal Home Loan Mortgage Corporation created by this chapter.
**(c)** The term “law” includes any law of the United States or of any State (including any rule of law or of equity).
**(d)** The term “mortgage” includes such classes of liens as are commonly given or are legally effective to secure advances on, or the unpaid purchase price of, real estate under the laws of the State in which the real estate is located or a manufactured home that is personal property under the laws of the State in which the manufactured home is located together with the credit instruments, if any, secured thereby, and includes interests in mortgages.
**(e)** The term “organization” means any corporation, partnership, association, business trust, or business entity.
**(f)** The term “prescribe” means to prescribe by regulations or otherwise.
**(g)** The term “property” includes any property, whether real, personal, mixed, or otherwise, including without limitation on the generality of the foregoing choses in action and mortgages, and includes any interest in any of the foregoing.
**(h)** The term “residential mortgage” means a mortgage which (1) is a mortgage on real estate, in fee simple or under a leasehold having such term as may be prescribed by the Corporation, upon which there is located a structure or structures designed in whole or in part for residential use, or which comprises or includes one or more condominium units or dwelling units (as defined by the Corporation) and (2) has such characteristics and meets such requirements as to amount, term, repayment provisions, number of families, status as a lien on such real esta
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1451
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** After reviewing and analyzing the reports submitted under [section 1723a(n) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1723a/n&num=0&edition=prelim) and [section 1456(f) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1456/f&num=0&edition=prelim), the Director shall submit a report, not later than October 30 of each year, to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives, on the activities of each enterprise.
**(b) Contents** The report required under subsection (a) shall—
(1) discuss—
(A) the extent to and manner in which—
(i) each enterprise is achieving the annual housing goals established under subpart 2;
(ii) each enterprise is complying with its duty to serve underserved markets, as established under [section 4565 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4565&num=0&edition=prelim);
(iii) each enterprise is complying with [section 4567 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4567&num=0&edition=prelim);
(iv) each enterprise received credit towards achieving each of its goals resulting from a transaction or activity pursuant to [section 4561(b)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4561/b/2&num=0&edition=prelim); and
(v) each enterprise is achieving the purposes of the enterprise established by law; and
(B) the actions that each enterprise could undertake to promote and expand the purposes of the enterprise;
(2) aggregate and analyze relevant data on income to assess the compliance
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4547
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Duty to serve underserved markets**
(1) **11 So in original. No par. (2) has been enacted. Duty** — To increase the liquidity of mortgage investments and improve the distribution of investment capital available for mortgage financing for underserved markets, each enterprise shall provide leadership to the market in developing loan products and flexible underwriting guidelines to facilitate a secondary market for mortgages for very low-, low-, and moderate-income families with respect to the following underserved markets:
(A) *Manufactured housing* — The enterprise shall develop loan products and flexible underwriting guidelines to facilitate a secondary market for mortgages on manufactured homes for very low-, low-, and moderate-income families.
(B) *Affordable housing preservation* — The enterprise shall develop loan products and flexible underwriting guidelines to facilitate a secondary market to preserve housing affordable to very low-, low-, and moderate-income families, including housing projects subsidized under_22 So in original.
(i) the project-based and tenant-based rental assistance programs under [section 1437f of title 42](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1437f&num=0&edition=prelim);
(ii) the program under [section 1715z–1 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1715z-1&num=0&edition=prelim);
(iii) the below-market interest rate mortgage program under section 1715l(d)(4) of this title;
(iv) the supportive housing for the elderly program under [section 1701q of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1701q&num=0&edition=prelim);
(v) the supportive housing program for persons with di
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4568
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment and purpose**
(1) **In general** — The Secretary of Housing and Urban Development (in this section referred to as the “Secretary”) shall establish and manage a Housing Trust Fund, which shall be funded with amounts allocated by the enterprises under [section 4567 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4567&num=0&edition=prelim) and any amounts as are or may be appropriated, transferred, or credited to such Housing Trust Fund under any other provisions of law. The purpose of the Housing Trust Fund under this section is to provide grants to States (as such term is defined in [section 4502 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4502&num=0&edition=prelim)) for use—
(A) to increase and preserve the supply of rental housing for extremely low- and very low-income families, including homeless families; and
(B) to increase homeownership for extremely low- and very low-income families.
(2) **Federal assistance** — For purposes of the application of Federal civil rights laws, all assistance provided from the Housing Trust Fund shall be considered Federal financial assistance.
**(b) Allocations for HOPE bond payments**
(1) **In general** — Notwithstanding subsection (c), to help address the mortgage crisis, of the amounts allocated pursuant to clauses (i) and (ii) of [section 4567(a)(1)(B) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4567/a/1/B&num=0&edition=prelim) and clauses (i) and (ii) of [section 4567(a)(2)(B) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4567/a/2/B&num=0&edition=prelim) in excess of amounts described in [section 4567(e) of this title](ht
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4582
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment** There is established in the Treasury of the United States a trust fund to be known as the Capital Magnet Fund, which shall be a special account within the Community Development Financial Institutions Fund.
**(b) Deposits to Trust Fund** The Capital Magnet Fund shall consist of—
(1) any amounts transferred to the Fund pursuant to [section 4567 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4567&num=0&edition=prelim); and
(2) any amounts as are or may be appropriated, transferred, or credited to such Fund under any other provisions of law.
**(c) Expenditures from Trust Fund** Amounts in the Capital Magnet Fund shall be available to the Secretary of the Treasury to carry out a competitive grant program to attract private capital for and increase investment in—
(1) the development, preservation, rehabilitation, or purchase of affordable housing for primarily extremely low-, very low-, and low-income families; and
(2) economic development activities or community service facilities, such as day care centers, workforce development centers, and health care clinics, which in conjunction with affordable housing activities implement a concerted strategy to stabilize or revitalize a low-income area or underserved rural area.
**(d) Federal assistance** For purposes of the application of Federal civil rights laws, all assistance provided using amounts in the Capital Magnet Fund shall be considered Federal financial assistance.
**(e) Eligible grantees** A grant under this section may be made, pursuant to such requirements as the Secretary of the Treasury shall establish for experience and success in attracting private financing and carrying out the types of activities proposed under the application of the grante
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4583
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Federal law — U.S. Code and appendices · legal_authorities
Page 337
TITLE 12—BANKS AND BANKING
§ 1451
(b) Voluntary mergers authorized
(1) In general
Any Federal Home Loan Bank may, with the
approval of the Director and of the boards of
directors of the Banks involved, merge with
another Bank.
(2) Regulations required
The Director shall promulgate regulations
establishing the conditions and procedures for
the consideration and approval of any vol-
untary merger described in paragraph (1), in-
cluding the procedures for Bank member ap-
proval.
(July 22, 1932, ch. 522, § 26, 47 Stat. 740; Pub. L.
101–73, title VII, § 701(b)(1), (3)(A), Aug. 9, 1989,
103 Stat. 412; Pub. L. 110–289, div. A, title II,
§§ 1204(8), 1209, 1214, July 30, 2008, 122 Stat. 2786,
2789, 2791.)
Editorial Notes
AMENDMENTS
2008—Pub. L. 110–289, § 1209, designated existing provi-
sions as subsec. (a), inserted heading, and added subsec.
(b).
Pub. L. 110–289, § 1204(8), substituted ‘‘the Director’’
for ‘‘the Board’’ wherever appearing.
Subsec. (a). Pub. L. 110–289, § 1214, which directed in-
sertion of ‘‘At least 30 days prior to liquidating or reor-
ganizing any Bank under this section, the Director
shall notify the Bank of its determination and the facts
and circumstances upon which such determination is
based. The Bank may contest that determination in a
hearing before the Director, in which all issues shall be
determined on the record pursuant to section 554 of
title 5.’’ at the end of this section, was executed by
making the insertion at the end of subsec. (a), to re-
flect the probable intent of Congress and the amend-
ment by Pub. L. 110–289, § 1209. See above.
1989—Pub. L. 101–73 substituted ‘‘Board’’ for ‘‘board’’
wherever appearing.
§ 1447. Repealed. Pub. L. 106–102, title VI,
§ 606(c), Nov. 12, 1999, 113 Stat. 1454
Sectio
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1451
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Federal law — U.S. Code and appendices · legal_authorities
Page 1675
TITLE 12—BANKS AND BANKING
§ 4567
may issue a cease and desist order in accord-
ance with section 4581 of this title, impose
civil money penalties in accordance with sec-
tion 4585 of this title, exercise other appro-
priate enforcement authority or seek other ap-
propriate actions.
(Pub. L. 102–550, title XIII, § 1336, Oct. 28, 1992, 106
Stat. 3962; Pub. L. 110–289, div. A, title I,
§§ 1122(a)(1), 1128(c)(2), 1129(b), (c), 1130(a), July
30, 2008, 122 Stat. 2689, 2702, 2705, 2706.)
Editorial Notes
REFERENCES IN TEXT
This chapter, referred to in subsecs. (a)(4) and (c)(4),
was in the original ‘‘this title’’, meaning title XIII of
Pub. L. 102–550, Oct. 28, 1992, 106 Stat. 3941, which is
classified principally to this chapter. For complete
classification of title XIII to the Code, see Short Title
note set out under section 4501 of this title and Tables.
The Federal National Mortgage Association Charter
Act, referred to in subsecs. (a)(4) and (c)(4), is title III
of act June 27, 1934, ch. 847, 48 Stat. 1252, which is clas-
sified generally to subchapter III (§ 1716 et seq.) of chap-
ter 13 of this title. For complete classification of this
Act to the Code, see Short Title note set out under sec-
tion 1716 of this title and Tables.
The Federal Home Loan Mortgage Corporation Act,
referred to in subsecs. (a)(4) and (c)(4), is title III of
Pub. L. 91–351, July 24, 1970, 84 Stat. 451, which is classi-
fied generally to chapter 11A (§ 1451 et seq.) of this title.
For complete classification of this Act to the Code, see
Short Title and Statement of Purpose note set out
under section 1451 of this title and Tables.
AMENDMENTS
2008—Subsec. (a). Pub. L. 110–289, § 1122(a)(1), sub-
stituted ‘‘Director’’ for ‘‘Secretary’’ wherever appear-
ing in pars. (
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 4567
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