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12 U.S.C. § 1720 — Statistical and economic surveys
Federal law — U.S. Code and appendices · legal_authorities
The Secretary shall cause to be made in connection with the insurance programs such statistical surveys and legal and economic studies as he shall deem useful to guide the development of housing and the creation of a sound mortgage market in the United States, and shall publish from time to time the results of such surveys and studies. Expenses of such studies and surveys, and expenses of publication and distribution of the results of such studies and surveys, shall be charged as a general expense of such insurance fund or funds, as the Secretary shall determine.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1720
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Stable record: federal_law:legal_authorities:record_usc_6d68a69f7fe256e5a6224654
Source file: Laws/federal/codes/united-states-code/title-12/section-1720-statistical-and-economic-surveys--f0a6f62bc9.md
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Source location: Title 12, Chapter 13, § 1720; chapter-013-national-housing.md
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The Secretary shall cause to be made in connection with the insurance programs such statistical surveys and legal and economic studies as he shall deem useful to guide the development of housing and the creation of a sound mortgage market in the United States, and shall publish from time to time the results of such surveys and studies. Expenses of such studies and surveys, and expenses of publication and distribution of the results of such studies and surveys, shall be charged as a general expense of such insurance fund or funds, as the Secretary shall determine.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Definitions** As used in this section—
(1) The term “mortgage” means a first mortgage on real estate in fee simple, or on the interest of either the lessor or lessee thereof (A) under a lease for not less than ninety-nine years which is renewable or (B) under a lease having a period of not less than fifty years to run from the date the mortgage was executed, upon which there is located or upon which there is to be constructed a building or buildings designed principally for residential use, or upon which there is located or to be constructed facilities for manufactured homes, and the term “first mortgage” means such classes of first liens as are commonly given to secure advances (including but not being limited to advances during construction) on, or the unpaid purchase price of, real estate under the laws of the State, in which the real estate is located, together with the credit instrument or instruments, if any, secured thereby, and may be in the form of trust mortgages or mortgage indentures or deeds of trust securing notes, bonds, or other credit instruments.
(2) The term “mortgagee” means the original lender under a mortgage, and its successors and assigns, and includes the holders of credit instruments issued under a trust mortgage or deed of trust pursuant to which such holders act by and through a trustee therein named.
(3) The term “mortgagor” means the original borrower under a mortgage and its successors and assigns.
(4) The term “maturity date” means the date on which the mortgage indebtedness would be extinguished if paid in accordance with the periodic payments provided for in the mortgage.
(5) The term “slum or blighted area” means any area where dwellings predominate which, by reason of dilapidation, overcrowding, faulty arrangement or design
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1718
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Projects insurable** In addition to mortgages insured under [section 1713 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1713&num=0&edition=prelim), the Secretary is authorized to insure mortgages as defined in [section 1713(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1713/a&num=0&edition=prelim) (including advances on such mortgages during construction), which cover property held by—
(1) a nonprofit cooperative ownership housing corporation or nonprofit cooperative ownership housing trust, the permanent occupancy of the dwellings of which is restricted to members of such corporation or to beneficiaries of such trust;
(2) a nonprofit corporation or nonprofit trust organized for the purpose of construction of homes for members of the corporation or for beneficiaries of the trust; or
(3) a mortgagor, approved by the Secretary which (A) has certified to the Secretary, as a condition of obtaining the insurance of a mortgage under this section, that upon completion of the property or project covered by such mortgage it intends to sell such property or project to a nonprofit corporation or nonprofit trust of the character described in paragraph (1) of this subsection at the actual cost of such property or project as certified pursuant to [section 1715r of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1715r&num=0&edition=prelim) and will faithfully and diligently make and carry out all reasonable efforts to consummate such sale, and (B) shall be regulated or restricted by the Secretary as to rents, charges, capital structure, rate of return, and methods of operation during any period while it holds the mortgaged property or project; a
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1723b
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Purpose of section** The purpose of this section is to aid in the elimination of slums and blighted conditions and the prevention of the deterioration of residential property by supplementing the insurance of mortgages under sections 1709 and 1713 of this title with a system of loan and mortgage insurance designed to assist the financing required for the rehabilitation of existing dwelling accommodations and the construction of new dwelling accommodations where such dwelling accommodations are located in an area referred to in paragraph (1) of subsection (d) of this section.
**(b) Authorization** The Secretary is authorized, upon application by the mortgagee, to insure, as hereinafter provided, any mortgage (including advances during construction on mortgages covering property of the character described in paragraph (3)(B) of subsection (d) of this section) which is eligible for insurance as hereinafter provided, and, upon such terms and conditions as he may prescribe, to make commitments for the insurance of such mortgages prior to the date of their execution or disbursement thereon.
**(c) Definitions** As used in this section, the terms “mortgage”, “first mortgage”, “mortgagee”, “mortgagor”, “maturity date”, and “State” shall have the same meaning as in [section 1707 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1707&num=0&edition=prelim).
**(d) Eligibility for insurance; conditions; limits** To be eligible for insurance under this section a mortgage shall meet the following conditions:
(1) The mortgaged property shall—
(A) be located in (i) the area of a slum clearance and urban redevelopment project covered by a Federal-aid contract executed or a prior approval granted, pursuant to title I of the Housing Act
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1723i
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Federal law — U.S. Code and appendices · legal_authorities
(a) Purpose
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1724 to 1730d
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Projects covered** Notwithstanding any of the provisions of this chapter and without regard to limitations upon eligibility contained in any section or subchapter of this chapter, other than the limitation in [section 1709(g) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1709/g&num=0&edition=prelim), the Secretary is authorized, upon application by the mortgagee, to insure or make commitments to insure under any section or subchapter of this chapter any mortgage—
(1) executed in connection with the sale by the Government, or any agency or official thereof, of any housing acquired or constructed under Public Law 849, Seventy-sixth Congress, as amended; Public Law 781, Seventy-sixth Congress, as amended; or Public Laws 9, 73, or 353, Seventy-seventh Congress, as amended (including any property acquired, held, or constructed in connection with such housing or to serve the inhabitants thereof); or
(2) executed in connection with the sale by the Secretary of Housing and Urban Development, or by any public housing agency with the approval of the Secretary, of any housing (including any property acquired, held, or constructed in connection with such housing or to serve the inhabitants thereof) owned or financially assisted pursuant to the provisions of Public Law 671, Seventy-sixth Congress; or
(3) executed in connection with the sale by the Government, or any agency or official thereof, of any of the so-called Greenbelt towns, or parts thereof, including projects, or parts thereof, known as Greenhills, Ohio; Greenbelt, Maryland; and Greendale, Wisconsin, developed under the Emergency Relief Appropriation Act of 1935, or of any of the village properties or employee’s housing under the jurisdiction of Tennessee Valley Author
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1730f to 1730i
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Purpose; definitions** The purpose of this section is to assist in relieving the shortage of housing for elderly persons and to increase the supply of rental housing for elderly persons. For the purposes of this section—
(1) the term “housing” means eight or more new or rehabilitated living units, not less than 50 per centum of which are specially designed for the use and occupancy of elderly persons;
(2) the term “elderly person” means any person, married or single, who is sixty-two years of age or over; and
(3) the terms “mortgage”, “mortgagee”, “mortgagor”, and “maturity date” shall have the meanings respectively set forth in [section 1713 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1713&num=0&edition=prelim).
**(b) Authorization** The Secretary is authorized to insure any mortgage (including advances on mortgages during construction) in accordance with the provisions of this section upon such terms and conditions as he may prescribe and to make commitments for insurance of such mortgages prior to the date of their execution or disbursement thereon.
**(c) Eligibility for insurance; maximum amount of mortgage; terms and conditions** To be eligible for insurance under this section, a mortgage to provide housing for elderly persons shall—
(1) Repealed. Pub. L. 93–383, title III, § 304(f), Aug. 22, 1974, 88 Stat. 678.
(2)
(A) not exceed, for such part of the property or project as may be attributable to dwelling use (excluding exterior land improvements as defined by the Secretary), $35,978 per family unit without a bedroom, $40,220 per family unit with one bedroom, $48,029 per family unit with two bedrooms, $57,798 per family unit with three bedrooms, and $67,950 per family unit with four or more bedrooms; e
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1735a
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Purpose** The purpose of this section is to provide an additional means of increasing the supply of privately owned dwelling units where, under the laws of the State in which the property is located, real property title and ownership are established with respect to a one-family unit which is part of a multifamily project.
**(b) Definitions** The terms “mortgage”, “mortgagee”, “mortgagor”, “maturity date”, and “State” shall have the meanings respectively set forth in [section 1707 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1707&num=0&edition=prelim), except that the term “mortgage” for the purposes of subsection (c) may include a first mortgage given to secure the unpaid purchase price of a fee interest in, or a long-term leasehold interest in, a one-family unit in a multifamily project, including a project in which the dwelling units are attached, semi-attached, or detached, and an undivided interest in the common areas and facilities which serve the project where the mortgage is determined by the Secretary to be eligible for insurance under this section. The term “common areas and facilities” as used in this section shall be deemed to include the land and such commercial, community, and other facilities as are approved by the Secretary.
**(c) Authorization; eligibility for insurance; conditions; limits** The Secretary is authorized, in his discretion and under such terms and conditions as he may prescribe (including the minimum number of family units in the project which shall be offered for sale and provisions for the protection of the consumer and the public interest), to insure any mortgage covering a one-family unit in a multifamily project and an undivided interest in the common areas and facilities which ser
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1735d
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Federal law — U.S. Code and appendices · legal_authorities
The purposes of this title 11 See References in Text note below. include the partition of the Federal National Mortgage Association as heretofore existing into two separate and distinct corporations, each of which shall have continuity and corporate succession as a separated portion of the previously existing corporation. One of such corporations, to be known as Federal National Mortgage Association, will be a Government-sponsored private corporation, will retain the assets and liabilities of the previously existing corporation accounted for under [section 1719 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1719&num=0&edition=prelim), and will continue to operate the secondary market operations authorized by such section 1719. The other, to be known as Government National Mortgage Association, will remain in the Government, will retain the assets and liabilities of the previously existing corporation accounted for under sections 1720 1 and 1721 of this title, and will continue to operate the special assistance functions and management and liquidating functions authorized by such sections 1720 1 and 1721.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1746
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Creation; succession; principal and other offices**
(1) There is created a body corporate to be known as the “Federal National Mortgage Association”, which shall be in the Department of Housing and Urban Development. The Association shall have succession until dissolved by Act of Congress. It shall maintain its principal office in the District of Columbia and shall be deemed, for purposes of venue in civil actions, to be a resident thereof. Agencies or offices may be established by the Association in such other place or places as it may deem necessary or appropriate in the conduct of its business.
(2) On September 1, 1968, the body corporate described in the foregoing paragraph shall cease to exist in that form and is hereby partitioned into two separate and distinct bodies corporate, each of which shall have continuity and corporate succession as a separated portion of the previously existing body corporate, as follows:
(A) One of such separated portions shall be a body corporate without capital stock to be known as Government National Mortgage Association (hereinafter referred to as the “Association”), which shall be in the Department of Housing and Urban Development and which shall retain the assets and liabilities acquired and incurred under sections 1720 11 See References in Text note below. and 1721 of this title prior to such date, including any and all liabilities incurred pursuant to subsection (c). The Association shall have succession until dissolved by Act of Congress. It shall maintain its principal office in the District of Columbia and shall be deemed, for purposes of venue in civil actions, to be a resident thereof. Agencies or offices may be established by the Association in such other place or places as it may deem necessary or appropriate i
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1746a
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Separate accountability of assets and liabilities** To carry out the purposes set forth in paragraph (c) 11 See References in Text note below. of [section 1716 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1716&num=0&edition=prelim), the Association is authorized and directed, as of the close of the cutoff date determined by the Association pursuant to section 1718(d) 1 of this title, to establish separate accountability for all of its assets and liabilities (exclusive of capital, surplus, surplus reserves, and undistributed earnings to be evidenced by preferred stock as provided in section 1718(d) 1 of this title, but inclusive of all rights and obligations under any outstanding contracts), and to maintain such separate accountability for the management and orderly liquidation of such assets and liabilities as provided in this section.
**(b) Issuance of obligations to expedite substitution of private financing** For the purposes of this section and to assure that, to the maximum extent, and as rapidly as possible, private financing will be substituted for Treasury borrowings otherwise required to carry mortgages held under the aforesaid separate accountability, the Association is authorized to issue, upon the approval of the Secretary of the Treasury, and have outstanding at any one time obligations having such maturities and bearing such rate or rates of interest as may be determined by the Association with the approval of the Secretary of the Treasury, to be redeemable at the option of the Association before maturity in such manner as may be stipulated in such obligations; but in no event shall any such obligations be issued if, at the time of such proposed issuance, and as a consequence thereof, the resulting aggre
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1747d
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