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12 U.S.C. § 1750a — Limitation on commitments to insure loans and mortgages
Federal law — U.S. Code and appendices · legal_authorities
**(a)** The authority of the Secretary to enter into commitments to insure loans and mortgages under this chapter shall be effective for any fiscal year only to such extent or in such amounts as are or have been provided in appropriation Acts for such fiscal year.
**(b)** Notwithstanding any other provision of law and subject only to the absence of qualified requests for insurance, to the authority provided in this chapter, and to the limitation in subsection (a), the Secretary shall enter into commitments to insure mortgages under this chapter with an aggregate principal amount of $110,165,000,000 during fiscal year 1993 and $68,673,868,600 during fiscal year 1994.
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Source file: Laws/federal/codes/united-states-code/title-12/section-1750a-limitation-on-commitments-to-insure-loans-and-mortgages--0e5b474cfd.md
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Source location: Title 12, Chapter 13, § 1750a; chapter-013-national-housing.md
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**(a)** The authority of the Secretary to enter into commitments to insure loans and mortgages under this chapter shall be effective for any fiscal year only to such extent or in such amounts as are or have been provided in appropriation Acts for such fiscal year.
**(b)** Notwithstanding any other provision of law and subject only to the absence of qualified requests for insurance, to the authority provided in this chapter, and to the limitation in subsection (a), the Secretary shall enter into commitments to insure mortgages under this chapter with an aggregate principal amount of $110,165,000,000 during fiscal year 1993 and $68,673,868,600 during fiscal year 1994.
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** The Congress finds that—
(1) disparate State laws under which the Secretary of Housing and Urban Development forecloses multifamily mortgages burden the programs administered by the Secretary pursuant to these authorities, and cause detriment to the residents of the affected projects and the community generally;
(2) long periods to complete the foreclosure of these mortgages under certain State laws lead to deterioration in the condition of the properties involved; necessitate substantial Federal management and holding expenditures; increase the risk of vandalism, fire loss, depreciation, damage, and waste with respect to the properties; and adversely affect the residents of the projects and the neighborhoods in which the properties are located;
(3) these conditions seriously impair the Secretary’s ability to protect the Federal financial interest in the affected properties and frustrate attainment of the objectives of the underlying Federal program authorities, as well as the national housing goal of “a decent home and a suitable living environment for every American family”;
(4) application of State redemption periods to these mortgages following their foreclosure would impair the salability of the properties involved and discourage their rehabilitation and improvement, thereby compounding the problems referred to in clause (3);
(5) the availability of a uniform and more expeditious procedure for the foreclosure of these mortgages by the Secretary and continuation of the practice of not applying postsale redemption periods to such mortgages will tend to ameliorate these conditions; and
(6) providing the Secretary with a nonjudicial foreclosure procedure will reduce unnecessary litigation by removing many foreclosures from the courts where they contribute
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 3701
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section, act June 27, 1934, ch. 847, title II, § 210, as added by act Feb. 3, 1938, ch. 13, § 3, 52 Stat. 22, related to additional housing insurance.
#### Applications Prior to Repeal
Act June 3, 1939, ch. 175, § 13, 53 Stat. 807, which repealed this section, also provided: “That the Administrator is authorized to insure under said section [this section] any mortgage for the insurance of which an application has been filed with him prior to the effective date of this act [June 3, 1939].”
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1721
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Federal law — U.S. Code and appendices · legal_authorities
Page 846
TITLE 12—BANKS AND BANKING
§ 1750
Section 1749bbb–15, act June 27, 1934, ch. 847, title XII,
§ 1245, formerly § 1235, as added Pub. L. 90–448, title XI,
§ 1103, Aug. 1, 1968, 82 Stat. 565; amended Pub. L. 91–152,
title IV, § 407, Dec. 24, 1969, 83 Stat. 396; renumbered
§ 1245, Pub. L. 91–609, title VI, § 602(d), Dec. 31, 1970, 84
Stat. 1789; amended Pub. L. 98–181, title I [title IV,
§ 452(b)(1)], Nov. 30, 1983, 97 Stat. 1230, related to study
of reinsurance and other programs, and report to the
President and Congress.
Section 1749bbb–16, act June 27, 1934, ch. 847, title XII,
§ 1246, formerly § 1236, as added Pub. L. 90–448, title XI,
§ 1103, Aug. 1, 1968, 82 Stat. 565; renumbered § 1246, Pub.
L. 91–609, title VI, § 602(d), Dec. 31, 1970, 84 Stat. 1789;
amended Pub. L. 98–181, title I [title IV, § 452(b)(1)], Nov.
30, 1983, 97 Stat. 1230, related to other studies and co-
operation with State insurance authorities and private
insurance industry.
Section 1749bbb–17, act June 27, 1934, ch. 847, title XII,
§ 1247, formerly § 1237, as added Pub. L. 90–448, title XI,
§ 1103, Aug. 1, 1968, 82 Stat. 566; renumbered § 1247, Pub.
L. 91–609, title VI, § 602(d), Dec. 31, 1970, 84 Stat. 1789;
amended Pub. L. 98–181, title I [title IV, § 452(b)(1), (4)],
Nov. 30, 1983, 97 Stat. 1230; Pub. L. 98–479, title II,
§ 202(a)(2), Oct. 17, 1984, 98 Stat. 2228, related to general
powers of Director.
Section 1749bbb–18, act June 27, 1934, ch. 847, title XII,
§ 1248, formerly § 1238, as added Pub. L. 90–448, title XI,
§ 1103, Aug. 1, 1968, 82 Stat. 566; renumbered § 1248, Pub.
L. 91–609, title VI, § 602(d), Dec. 31, 1970, 84 Stat. 1789;
amended Pub. L. 98–181, title I [title IV, § 452(b)(1)], Nov.
30, 1983, 97 Stat. 1230, related to utilization of services
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1750a
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