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12 U.S.C. § 1723a — Insurance of mortgages on property in Alaska, Guam, Hawaii, and Virgin Islands
Federal law — U.S. Code and appendices · legal_authorities
If the Secretary of Housing and Urban Development finds that, because of higher costs prevailing in Alaska, Guam, Hawaii, or the Virgin Islands, it is not feasible to construct dwellings or manufactured home courts or parks on property located in Alaska, Guam, Hawaii, or the Virgin Islands without sacrifice of sound standards of construction, design, or livability, within the limitations as to maximum or maxima mortgage amounts provided in this chapter, the Secretary may, by regulations or otherwise, prescribe, with respect to dollar amount, a higher maximum or maxima for the principal obligation of mortgages insured under this chapter covering property located in Alaska, Guam, Hawaii, or the Virgin Islands in such amounts as he shall find necessary to compensate for such higher costs but not to exceed, in any event, the maximum or maxima otherwise applicable (including increased mortgage amounts in geographical areas where cost levels so require) by more than one-half thereof. No mortgage with respect to a project or property in Alaska, Guam, Hawaii, or the Virgin Islands shall be accepted for insurance under this chapter unless the Secretary finds that the project or property is an acceptable risk giving consideration to the acute housing shortage in Alaska, Guam, Hawaii, or the Virgin Islands: Provided, That any such mortgage may be insured or accepted for insurance without regard to any requirement in any other section of this chapter that the Secretary find the project or property to be economically sound or an acceptable risk. Notwithstanding any of the provisions of this chapter or any other law, the Alaska Housing Authority or the Government of Guam, the Virgin Islands, or Hawaii or any agency or instrumentality thereof shall be eligible as mortgagor or mortgage
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Source location: Title 12, Chapter 13, § 1723a; chapter-013-national-housing.md
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If the Secretary of Housing and Urban Development finds that, because of higher costs prevailing in Alaska, Guam, Hawaii, or the Virgin Islands, it is not feasible to construct dwellings or manufactured home courts or parks on property located in Alaska, Guam, Hawaii, or the Virgin Islands without sacrifice of sound standards of construction, design, or livability, within the limitations as to maximum or maxima mortgage amounts provided in this chapter, the Secretary may, by regulations or otherwise, prescribe, with respect to dollar amount, a higher maximum or maxima for the principal obligation of mortgages insured under this chapter covering property located in Alaska, Guam, Hawaii, or the Virgin Islands in such amounts as he shall find necessary to compensate for such higher costs but not to exceed, in any event, the maximum or maxima otherwise applicable (including increased mortgage amounts in geographical areas where cost levels so require) by more than one-half thereof. No mortgage with respect to a project or property in Alaska, Guam, Hawaii, or the Virgin Islands shall be accepted for insurance under this chapter unless the Secretary finds that the project or property is an acceptable risk giving consideration to the acute housing shortage in Alaska, Guam, Hawaii, or the Virgin Islands: Provided, That any such mortgage may be insured or accepted for insurance without regard to any requirement in any other section of this chapter that the Secretary find the project or property to be economically sound or an acceptable risk. Notwithstanding any of the provisions of this chapter or any other law, the Alaska Housing Authority or the Government of Guam, the Virgin Islands, or Hawaii or any agency or instrumentality thereof shall be eligible as mortgagor or mortgagee, as the case may be, for any of the purposes of mortgage insurance under the provisions of this chapter. Upon application by the mortgagee (1) where the mortgagor is regulated or restricted pursuant to the last sentence of this section or (2) where the Alaska Housing Authority or the Government of Guam, the Virgin Islands, or Hawaii or any agency or instrumentality thereof is the mortgagor or mortgagee, for the insurance of a mortgage under any provisions of this chapter, the Secretary is authorized to insure the mortgage (including advances thereon where otherwise authorized), and to make commitments for the insuring of any such mortgages prior to the date of their execution or disbursement thereon, under such provision (and this section) without regard to any requirement that the mortgagor shall have paid a prescribed amount on account of such property. Without limiting the authority of the Secretary under any other provision of law, the Secretary is authorized, with respect to any mortgagor in such case (except where the Alaska Housing Authority is the mortgagor or mortgagee), to require the mortgagor to be regulated or restricted as to rents or sales, charges, capital structure, rate of return, and methods of operation to such an extent and in such manner as the Secretary determines advisable to provide reasonable rentals and sales prices and a reasonable return on the investment.
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Federal law — U.S. Code and appendices · legal_authorities
The Secretary shall transfer all assets and liabilities of the fund established pursuant to section 717 of the Housing and Urban Development Act of 1970, as amended ([42 U.S.C. 4518](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section4518&num=0&edition=prelim)), to the Revolving fund (liquidating programs) established pursuant to title II of the Independent Offices Appropriation Act, 1955, as amended ([12 U.S.C. 1701g–5](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1701g-5&num=0&edition=prelim)).
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Grounds for issuance** The Director may issue and serve a notice of charges under this section upon an enterprise if the Director determines that—
(1) the enterprise has failed to submit a report under section 4547 11 See References in Text note below. of this title, following a notice of such failure, an opportunity for comment by the enterprise, and a final determination by the Director;
(2) the enterprise has failed to submit the information required under subsection (m) or (n) of [section 1723a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1723a&num=0&edition=prelim), or subsection (e) or (f) of [section 1456 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1456&num=0&edition=prelim);
(3) solely with respect to the housing goals established under sections 4562(a) and 4563(a)(1) of this title, the enterprise has failed to submit a housing plan that complies with [section 4566(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4566/c&num=0&edition=prelim) within the applicable period; or
(4) solely with respect to the housing goals established under sections 4562(a) and 4563(a)(1) of this title, the enterprise has failed to comply with a housing plan under [section 4566(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4566/c&num=0&edition=prelim).
**(b) Procedure**
(1) **Notice of charges** — Each notice of charges issued under this section shall contain a statement of the facts constituting the alleged conduct and shall fix a time and place at which a hearing will be held to determine on the record whether an order to cease and desist from such conduct should issue.
(2) **Issuance o
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4584
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Authority** The Director may impose a civil money penalty, in accordance with the provisions of this section, on any enterprise that has failed to—
(1) submit a report under section 4547 11 See References in Text note below. of this title, following a notice of such failure, an opportunity for comment by the enterprise, and a final determination by the Director;
(2) submit the information required under subsection (m) or (n) of [section 1723a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1723a&num=0&edition=prelim) or subsection (e) or (f) of [section 1456 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1456&num=0&edition=prelim);
(3) solely with respect to the housing goals established under sections 4562(a) and 4563(a)(1) of this title, submit a housing plan or perform its responsibilities under a remedial order issued pursuant to [section 4566(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4566/c&num=0&edition=prelim) within the required period; or
(4) solely with respect to the housing goals established under sections 4562(a) and 4563(a)(1) of this title, comply with a housing plan for the enterprise under [section 4566(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4566/c&num=0&edition=prelim).
**(b) Amount of penalty** The amount of a penalty under this section, as determined by the Director, may not exceed—
(1) for any failure described in paragraph (1), (5), or (6) of subsection (a), $100,000 for each day that the failure occurs; and
(2) for any failure described in paragraph (2), (3), or (4) of subsection (a), $50,000 for each day that the failure occurs.
**(c) Procedu
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Issuance for unsafe or unsound practices and violations**
(1) **Authority of Director** — If, in the opinion of the Director, a regulated entity or any entity-affiliated party is engaging or has engaged, or the Director has reasonable cause to believe that the regulated entity or any entity-affiliated party is about to engage, in an unsafe or unsound practice in conducting the business of the regulated entity or the Office of Finance, or is violating or has violated, or the Director has reasonable cause to believe is about to violate, a law, rule, regulation, or order, or any condition imposed in writing by the Director in connection with the granting of any application or other request by the regulated entity or the Office of Finance or any written agreement entered into with the Director, the Director may issue and serve upon the regulated entity or entity-affiliated party a notice of charges in respect thereof.
(2) **Limitation** — The Director may not, pursuant to this section, enforce compliance with any housing goal established under subpart 2 of part B of subchapter I of this chapter, with section 4566 or 4567 of this title, with subsection (m) or (n) of [section 1723a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1723a&num=0&edition=prelim), with subsection (e) or (f) of [section 1456 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1456&num=0&edition=prelim), or with paragraph (5) of [section 1430(j) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1430/j&num=0&edition=prelim).
**(b) Issuance for unsatisfactory rating** If a regulated entity receives, in its most recent report of examination, a less-than-satisfactory rating f
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Federal law — U.S. Code and appendices · legal_authorities
Page 771
TITLE 12—BANKS AND BANKING
§ 1723a
Pub. L. 110–289, § 1153(b)(2), in second sentence, sub-
stituted ‘‘Except to the extent that action under sec-
tion 4636a of this title temporarily results in a lesser
number, the’’ for ‘‘The’’.
1992—Subsec. (b). Pub. L. 102–550, in second sentence,
struck out ‘‘and’’ after ‘‘mortgage lending industry,’’
and inserted ‘‘, and at least one person from an organi-
zation that has represented consumer or community in-
terests for not less than 2 years or one person who has
demonstrated a career commitment to the provision of
housing for low-income households’’ and in third sen-
tence, substituted ‘‘any such appointed member’’ for
‘‘any such member’’.
1984—Subsec. (b). Pub. L. 98–440 substituted ‘‘, which
shall consist of eighteen persons, five of whom’’ for
‘‘which shall consist of fifteen persons, one-third of
whom’’.
1976—Subsec. (a). Pub. L. 94–375 substituted provision
establishing, in the Department of Housing and Urban
Development, the position of president of the Govern-
ment National Mortgage Association, to be filled by
the President, by and with the consent of the Senate,
for provision that the Secretary appoint the president
of the Association.
1968—Subsec. (a). Pub. L. 90–448, § 802(y)(1)–(6), des-
ignated existing provisions as subsec. (a), inserted pro-
visions directing that the powers and duties of the Gov-
ernment National Mortgage Association shall be vested
in the Secretary of Housing and Urban Development
and that the Association shall be administered under
the direction of the Secretary, and empowering the
Secretary to adopt, amend, and repeal bylaws, and
struck out provisions which related to the Board of Di-
rectors of the Federal National Mortgage Association.
Subsec. (b). Pub. L. 90
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1723a
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