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12 U.S.C. § 1731b — Delivery of statement of appraisal or estimates to home buyers
Federal law — U.S. Code and appendices · legal_authorities
The Secretary is authorized and directed to require that in connection with any property upon which there is located a dwelling designed principally for a single-family residence or a two-family residence and which is approved for mortgage insurance under section 1709 or 1715e of this title with respect to any property or project of a corporation or trust of the character described in paragraph (2) of subsection (a) of [section 1715e of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1715e&num=0&edition=prelim), or sections 1715k, 1715l, 1715m,11 See References in Text note below. 1715x, 1715y, 1715z(i), 1715z–2,1 or 1750b of this title, the seller or builder or such other person as may be designated by the Secretary shall agree to deliver, prior to the sale of the property, to the person purchasing such dwelling for his own occupancy, a written statement setting forth the amount of the appraised value of the property as determined by the Secretary. This section shall not apply in any case where the mortgage involved was insured or the commitment for such insurance was issued prior to August 2, 1954. Notwithstanding the first sentence of this section, the Secretary is authorized to require, in connection with any mortgage where the mortgage amount is computed on the basis of the Secretary’s estimate of the replacement cost of the property, or on the basis of any other estimates of the Secretary, that a written statement setting forth such estimate or estimates, as the case may be, be furnished under this section in lieu of a written statement setting forth the amount of the appraised value of the property.
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Source file: Laws/federal/codes/united-states-code/title-12/section-1731b-delivery-of-statement-of-appraisal-or-estimates-to-home-buyers--5c89319e65.md
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Source location: Title 12, Chapter 13, § 1731b; chapter-013-national-housing.md
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The Secretary is authorized and directed to require that in connection with any property upon which there is located a dwelling designed principally for a single-family residence or a two-family residence and which is approved for mortgage insurance under section 1709 or 1715e of this title with respect to any property or project of a corporation or trust of the character described in paragraph (2) of subsection (a) of [section 1715e of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1715e&num=0&edition=prelim), or sections 1715k, 1715l, 1715m,11 See References in Text note below. 1715x, 1715y, 1715z(i), 1715z–2,1 or 1750b of this title, the seller or builder or such other person as may be designated by the Secretary shall agree to deliver, prior to the sale of the property, to the person purchasing such dwelling for his own occupancy, a written statement setting forth the amount of the appraised value of the property as determined by the Secretary. This section shall not apply in any case where the mortgage involved was insured or the commitment for such insurance was issued prior to August 2, 1954. Notwithstanding the first sentence of this section, the Secretary is authorized to require, in connection with any mortgage where the mortgage amount is computed on the basis of the Secretary’s estimate of the replacement cost of the property, or on the basis of any other estimates of the Secretary, that a written statement setting forth such estimate or estimates, as the case may be, be furnished under this section in lieu of a written statement setting forth the amount of the appraised value of the property.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Authorization; maximum term; maximum aggregate amount** The Secretary of Housing and Urban Development (hereinafter referred to as the “Secretary”) is authorized to make, and contract to make, annual payments to a “housing owner” on behalf of “qualified tenants”, as those terms are defined herein, in such amounts and under such circumstances as are prescribed in or pursuant to this section. In no case shall a contract provide for such payments with respect to any housing for a period exceeding forty years. The aggregate amount of the contracts to make such payments shall not exceed amounts approved in appropriation Acts, and payments pursuant to such contracts shall not exceed $150,000,000 per annum prior to July 1, 1969, which maximum dollar amount shall be increased by $40,000,000, on July 1, 1969, by $100,000,000 on July 1, 1970, and by $40,000,000 on July 1, 1971.
**(b) “Housing owner” defined; limitation on payments to housing owner** As used in this section, the term “housing owner” means a private nonprofit corporation or other private nonprofit legal entity, a limited dividend corporation or other limited dividend legal entity, or a cooperative housing corporation, which is a mortgagor under section 221(d)(3) of the National Housing Act [[12 U.S.C. 1715](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1715&num=0&edition=prelim)l(d)(3)] and which, after August 10, 1965, has been approved for mortgage insurance thereunder and has been approved for receiving the benefits of this section: Provided, That, except as provided in subsection (j), no payments under this section may be made with respect to any property financed with a mortgage receiving the benefits of the interest rate provided for in the proviso in section 221(d)(5) of
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Federal law — U.S. Code and appendices · legal_authorities
As soon as practicable following November 30, 1983, the Secretary of Housing and Urban Development, with the cooperation of the Federal Housing Finance Agency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the Comptroller of the Currency, shall develop a method of accurately reporting to the Congress on a periodic basis with respect to residential mortgage delinquencies and foreclosures. Each such report shall include information with respect to the number of residential mortgage foreclosures, and the number of sixty- and ninety-day residential mortgage delinquencies, in the Nation and in each State.
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Federal law — U.S. Code and appendices · legal_authorities
Page 782
TITLE 12—BANKS AND BANKING
§ 1731a
alties. See sections 493, 657, 709, 1006, and 1008 to 1010 of
Title 18, Crimes and Criminal Procedure.
§ 1731a. Penalties
Notwithstanding any other provision of law,
the Secretary is authorized to refuse the bene-
fits of participation (either directly as an in-
sured lender or as a borrower, or indirectly as a
builder, contractor, or dealer, or salesman or
sales agent for a builder, contractor or dealer)
under subchapter I, II, VI, VII, VIII, IX–B, or X
of this chapter to any person or firm (including
but not limited to any individual, partnership,
association, trust, or corporation) if the Sec-
retary has determined that such person or firm
(1) has knowingly or willfully violated any pro-
vision of this chapter or of title III of the Serv-
icemen’s Readjustment Act of 1944, as amended,
or of chapter 37 of title 38, or of any regulation
issued by the Secretary under this chapter or by
the Secretary of Veterans Affairs under said
title III, or chapter 37, or (2) has, in connection
with any construction, alteration, repair or im-
provement work financed with assistance under
this chapter or under said title III, or chapter 37,
or in connection with contracts or financing re-
lating to such work, violated any Federal or
State penal statute, or (3) has failed materially
to properly carry out contractual obligations
with respect to the completion of construction,
alteration, repair, or improvement work fi-
nanced with assistance under this chapter or
under title III of the Servicemen’s Readjustment
Act of 1944, as amended, or of chapter 37 of title
38. Before any such determination is made any
person or firm with respect to whom such a de-
termination is proposed shall be notified in writ-
ing by the Sec
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1731b
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