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12 U.S.C. § 5211 — Purposes
Federal law — U.S. Code and appendices · legal_authorities
The purposes of this chapter are—
(1) to immediately provide authority and facilities that the Secretary of the Treasury can use to restore liquidity and stability to the financial system of the United States; and
(2) to ensure that such authority and such facilities are used in a manner that—
(A) protects home values, college funds, retirement accounts, and life savings;
(B) preserves homeownership and promotes jobs and economic growth;
(C) maximizes overall returns to the taxpayers of the United States; and
(D) provides public accountability for the exercise of such authority.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5211
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Source file: Laws/federal/codes/united-states-code/title-12/section-5211-purposes--c65ae6a5aa.md
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Source location: Title 12, Chapter 52, § 5211; chapter-052-emergency-economic-stabilization.md
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The purposes of this chapter are—
(1) to immediately provide authority and facilities that the Secretary of the Treasury can use to restore liquidity and stability to the financial system of the United States; and
(2) to ensure that such authority and such facilities are used in a manner that—
(A) protects home values, college funds, retirement accounts, and life savings;
(B) preserves homeownership and promotes jobs and economic growth;
(C) maximizes overall returns to the taxpayers of the United States; and
(D) provides public accountability for the exercise of such authority.
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section, act Aug. 2, 1954, ch. 649, title VIII, § 815, 68 Stat. 647, required submission of specifications by applicants prior to award of any contract for construction of a project and submission of data with respect to acquisition of land prior to authorization to purchase such land.
Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 1437f
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Judicial review**
(1) **Standard** — Actions by the Secretary pursuant to the authority of this chapter shall be subject to chapter 7 of title 5, including that such final actions shall be held unlawful and set aside if found to be arbitrary, capricious, an abuse of discretion, or not in accordance with law.
(2) **Limitations on equitable relief**
(A) *Injunction* — No injunction or other form of equitable relief shall be issued against the Secretary for actions pursuant to section 11 So in original. Probably should be “sections”. 5211, 5212, 5216, and 5219 of this title, other than to remedy a violation of the Constitution.
(B) *Temporary restraining order* — Any request for a temporary restraining order against the Secretary for actions pursuant to this chapter shall be considered and granted or denied by the court within 3 days of the date of the request.
(C) *Preliminary injunction* — Any request for a preliminary injunction against the Secretary for actions pursuant to this chapter shall be considered and granted or denied by the court on an expedited basis consistent with the provisions of rule 65(b)(3) of the Federal Rules of Civil Procedure, or any successor thereto.
(D) *Permanent injunction* — Any request for a permanent injunction against the Secretary for actions pursuant to this chapter shall be considered and granted or denied by the court on an expedited basis. Whenever possible, the court shall consolidate trial on the merits with any hearing on a request for a preliminary injunction, consistent with the provisions of rule 65(a)(2) of the Federal Rules of Civil Procedure, or any successor thereto.
(3) **Limitation on actions by participating companies** — No action or claims may be brought against the Secretary by any person that div
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5231
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Required disclosures by creditor** For each consumer credit transaction other than under an open end credit plan, the creditor shall disclose each of the following items, to the extent applicable:
(1) The identity of the creditor required to make disclosure.
(2)
(A) The “amount financed”, using that term, which shall be the amount of credit of which the consumer has actual use. This amount shall be computed as follows, but the computations need not be disclosed and shall not be disclosed with the disclosures conspicuously segregated in accordance with subsection (b)(1):
(i) take the principal amount of the loan or the cash price less downpayment and trade-in;
(ii) add any charges which are not part of the finance charge or of the principal amount of the loan and which are financed by the consumer, including the cost of any items excluded from the finance charge pursuant to [section 1605 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1605&num=0&edition=prelim); and
(iii) subtract any charges which are part of the finance charge but which will be paid by the consumer before or at the time of the consummation of the transaction, or have been withheld from the proceeds of the credit.
(B) In conjunction with the disclosure of the amount financed, a creditor shall provide a statement of the consumer’s right to obtain, upon a written request, a written itemization of the amount financed. The statement shall include spaces for a “yes” and “no” indication to be initialed by the consumer to indicate whether the consumer wants a written itemization of the amount financed. Upon receiving an affirmative indication, the creditor shall provide, at the time other disclosures are required to be furnished, a written
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 1638
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment of applicable definitions, payment of interest, obligations as deposits, and regulations** The Board is authorized for the purposes of this section 11 See References in Text note below. to define the terms used in this section,1 to determine what shall be deemed a payment of interest, to determine what types of obligations, whether issued directly by a member bank or indirectly by an affiliate of a member bank or by other means, and, regardless of the use of the proceeds, shall be deemed a deposit, and to prescribe such regulations as it may deem necessary to effectuate the purposes of this section 1 and to prevent evasions thereof.
**(b) Additional definitions; required amounts of reserves maintained against transaction accounts; waiver of ratio limits in extraordinary circumstances; supplemental reserves; reserves related to foreign obligations or assets; exemption for certain deposits; discount and borrowing; transitional adjustments; additional exemptions and waivers; earnings on balances**
(1) The following definitions and rules apply to this subsection, subsection (c), and sections 248–1, 248a, 342, 360, and 412 of this title:
(A) The term “depository institution” means—
(i) any insured bank as defined in section 3 of the Federal Deposit Insurance Act [[12 U.S.C. 1813](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813&num=0&edition=prelim)] or any bank which is eligible to make application to become an insured bank under section 5 of such Act [[12 U.S.C. 1815](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1815&num=0&edition=prelim)];
(ii) any mutual savings bank as defined in section 3 of the Federal Deposit Insurance Act or any bank which is eligible to make applicatio
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 461
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Federal law — U.S. Code and appendices · legal_authorities
**(a)**
(1)
(A) Any loan to a veteran eligible for benefits under this chapter, if made for any of the purposes specified in [section 3710 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section3710&num=0&edition=prelim) and in compliance with the provisions of this chapter, is automatically guaranteed by the United States in an amount not to exceed the lesser of—
(i)
(I) in the case of any loan of not more than $45,000, 50 percent of the loan;
(II) in the case of any loan of more than $45,000, but not more than $56,250, $22,500;
(III) except as provided in subclause (IV) of this clause, in the case of any loan of more than $56,250, the lesser of $36,000 or 40 percent of the loan; or
(IV) in the case of any loan of more than $144,000 for a purpose specified in clause (1), (2), (3), (5), (6), or (8) of [section 3710(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section3710/a&num=0&edition=prelim), 25 percent of the loan; or
(ii) the maximum amount of guaranty entitlement available to the veteran as specified in subparagraph (B) or (C).
(B) With respect to loans described in subclauses (I), (II), or (III) of subparagraph (A)(i), the maximum amount of guaranty entitlement available to a veteran for purposes specified in [section 3710 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section3710&num=0&edition=prelim) shall be $36,000, reduced by the amount of entitlement previously used by the veteran under this chapter and not restored as a result of the exclusion in [section 3702(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section3702/b&num=0&edition=prelim).
(C)
(i) W
Source: Supplied U.S. Code snapshot — release unconfirmed · 38 U.S.C. § 3703
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Authority to issue; terms and conditions; validity** The Corporation is authorized, upon such terms and conditions as it may prescribe, to borrow, to give security, to pay interest or other return, and to issue notes, debentures, bonds, or other obligations, or other securities, including without limitation mortgage-backed securities guaranteed by the Government National Mortgage Association in the manner provided in [section 1721(g) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1721/g&num=0&edition=prelim). Any obligation or security of the Corporation shall be valid and binding notwithstanding that a person or persons purporting to have executed or attested the same may have died, become under disability, or ceased to hold office or employment before the issuance thereof.
**(b) Prohibitions and restrictions; creation of liens and charges; rank and priority; causes of action to enforce; jurisdiction; service of process** The Corporation may, by regulation or by writing executed by the Corporation, establish prohibitions or restrictions upon the creation of indebtedness or obligations of the Corporation or of liens or charges upon property of the Corporation, including after-acquired property, and create liens and charges, which may be floating liens or charges, upon all or any part or parts of the property of the Corporation, including after-acquired property. Such prohibitions, restrictions, liens, and charges shall have such effect, including without limitation on the generality of the foregoing such rank and priority, as may be provided by regulations of the Corporation or by writings executed by the Corporation, and shall create causes of action which may be enforced by action in the United States District Court f
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1455
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Federal law — U.S. Code and appendices · legal_authorities
Level IV of the Executive Schedule applies to the following positions, for which the annual rate of basic pay shall be the rate determined with respect to such level under chapter 11 of title 2, as adjusted by [section 5318 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section5318&num=0&edition=prelim):
Source: Supplied U.S. Code snapshot — release unconfirmed · 5 U.S.C. § 5315
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Federal law — U.S. Code and appendices · legal_authorities
**(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
Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 5301
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Net present value input data** The Secretary of the Treasury (in this section referred to as the “Secretary”) shall revise the supplemental directives and other guidelines for the Home Affordable Modification Program of the Making Home Affordable initiative of the Secretary of the Treasury, authorized under the Emergency Economic Stabilization Act of 2008 (Public Law 110–343) [[12 U.S.C. 5201](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5201&num=0&edition=prelim) et seq.], to require each mortgage servicer participating in such program to provide each borrower under a mortgage whose request for a mortgage modification under the Program is denied with all borrower-related and mortgage-related input data used in any net present value (NPV) analyses performed in connection with the subject mortgage. Such input data shall be provided to the borrower at the time of such denial.
**(b) Web-based site for NPV calculator and application**
(1) **NPV calculator** — In carrying out the Home Affordable Modification Program, the Secretary shall establish and maintain a site on the World Wide Web that provides a calculator for net present value analyses of a mortgage, based on the Secretary’s methodology for calculating such value, that mortgagors can use to enter information regarding their own mortgages and that provides a determination after entering such information regarding a mortgage of whether such mortgage would be accepted or rejected for modification under the Program, using such methodology.
(2) **Disclosure** — Such Web site shall also prominently disclose that each mortgage servicer participating in such Program may use a method for calculating net present value of a mortgage that is different than the method used by such calculat
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5220
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** Notwithstanding any other provision of law, whenever a servicer of residential mortgages agrees to enter into a qualified loss mitigation plan with respect to 1 or more residential mortgages originated before May 20, 2009, including mortgages held in a securitization or other investment vehicle—
(1) to the extent that the servicer owes a duty to investors or other parties to maximize the net present value of such mortgages, the duty shall be construed to apply to all such investors and parties, and not to any individual party or group of parties; and
(2) the servicer shall be deemed to have satisfied the duty set forth in paragraph (1) if, before December 31, 2012, the servicer implements a qualified loss mitigation plan that meets the following criteria:
(A) Default on the payment of such mortgage has occurred, is imminent, or is reasonably foreseeable, as such terms are defined by guidelines issued by the Secretary of the Treasury or his designee under the Emergency Economic Stabilization Act of 2008 [[12 U.S.C. 5201](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5201&num=0&edition=prelim) et seq.].
(B) The mortgagor occupies the property securing the mortgage as his or her principal residence.
(C) The servicer reasonably determined, consistent with the guidelines issued by the Secretary of the Treasury or his designee, that the application of such qualified loss mitigation plan to a mortgage or class of mortgages will likely provide an anticipated recovery on the outstanding principal mortgage debt that will exceed the anticipated recovery through foreclosures.
**(b) No liability** A servicer that is deemed to be acting in the best interests of all investors or other parties under this section shall not be
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 1639a
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