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12 U.S.C. § 3702 — Definitions
Federal law — U.S. Code and appendices · legal_authorities
As used in this chapter—
(1) “mortgage” means a deed of trust, mortgage, deed to secure debt, security agreement, or any other form of instrument under which any interest in property, real, personal or mixed, or any interest in property including leaseholds, life estates, reversionary interests, and any other estates under applicable State law, is conveyed in trust, mortgaged, encumbered, pledged, or otherwise rendered subject to a lien, for the purpose of securing the payment of money or the performance of an obligation;
(2) “multifamily mortgage” means a mortgage held by the Secretary pursuant to—
(A) section 608 or 801, or title II or X, of the National Housing Act [[12 U.S.C. 1743](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1743&num=0&edition=prelim), 1748, 1707 et seq., 1749aa et seq.];
(B) section 312 of the Housing Act of 1964 [[42 U.S.C. 1452b](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1452b&num=0&edition=prelim)], as it existed immediately before its repeal by section 289 of the Cranston-Gonzalez National Affordable Housing Act;
(C) section 202 of the Housing Act of 1959 [[12 U.S.C. 1701q](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1701q&num=0&edition=prelim)], as it existed immediately before its amendment by section 801 of the Cranston-Gonzalez National Affordable Housing Act;
(D) section 202 of the Housing Act of 1959 [[12 U.S.C. 1701q](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1701q&num=0&edition=prelim)], as amended by section 801 of the Cranston-Gonzalez National Affordable Housing Act;
(E) section 811 of the Cranston-Gonzalez National Affordable Housing Act [[42 U.S.C. 8013](https://uscode.house.gov/view.x
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Source location: Title 12, Chapter 38, § 3702; chapter-038-multifamily-mortgage-foreclosure.md
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As used in this chapter—
(1) “mortgage” means a deed of trust, mortgage, deed to secure debt, security agreement, or any other form of instrument under which any interest in property, real, personal or mixed, or any interest in property including leaseholds, life estates, reversionary interests, and any other estates under applicable State law, is conveyed in trust, mortgaged, encumbered, pledged, or otherwise rendered subject to a lien, for the purpose of securing the payment of money or the performance of an obligation;
(2) “multifamily mortgage” means a mortgage held by the Secretary pursuant to—
(A) section 608 or 801, or title II or X, of the National Housing Act [[12 U.S.C. 1743](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1743&num=0&edition=prelim), 1748, 1707 et seq., 1749aa et seq.];
(B) section 312 of the Housing Act of 1964 [[42 U.S.C. 1452b](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1452b&num=0&edition=prelim)], as it existed immediately before its repeal by section 289 of the Cranston-Gonzalez National Affordable Housing Act;
(C) section 202 of the Housing Act of 1959 [[12 U.S.C. 1701q](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1701q&num=0&edition=prelim)], as it existed immediately before its amendment by section 801 of the Cranston-Gonzalez National Affordable Housing Act;
(D) section 202 of the Housing Act of 1959 [[12 U.S.C. 1701q](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1701q&num=0&edition=prelim)], as amended by section 801 of the Cranston-Gonzalez National Affordable Housing Act;
(E) section 811 of the Cranston-Gonzalez National Affordable Housing Act [[42 U.S.C. 8013](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section8013&num=0&edition=prelim)]; and
(F) section 514 or 515 of the Housing Act of 1949 ([42 U.S.C. 1484](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1484&num=0&edition=prelim), 1485).
(3) “mortgage agreement” means the note or debt instrument and the mortgage instrument, deed of trust instrument, trust deed, or instrument or instruments creating the mortgage, including any instrument incorporated by reference therein (including any applicable regulatory agreement), and any instrument or agreement amending or modifying any of the foregoing;
(4) “mortgagor” means the obligor, grantor, or trustor named in the mortgage agreement and, unless the context otherwise indicates, includes the current owner of record of the security property whether or not personally liable on the mortgage debt;
(5) “person” includes any individual, group of individuals, association, partnership, corporation, or organization;
(6) “record” and “recorded” include “register” and “registered” in the instance of registered land;
(7) “security property” means the property, real, personal or mixed, or an interest in property, including leaseholds, life estates, reversionary interests, and any other estates under applicable State law, together with fixtures and other interests subject to the lien of the mortgage under applicable State law;
(8) “State” means the several States, the District of Columbia, the Commonwealth of Puerto Rico, the territories and possessions of the United States, and the Trust Territory of the Pacific Islands, and Indian tribes as defined by the Secretary;
(9) “county” means county as defined in [section 2 of title 1](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title1-section2&num=0&edition=prelim); and
(10) “Secretary” means the Secretary of Housing and Urban Development and the Secretary of Agriculture.
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Federal law — U.S. Code and appendices · legal_authorities
The word “county” includes a parish, or any other equivalent subdivision of a State or Territory of the United States.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Authorization; terms and conditions** The Secretary is authorized to insure and make commitments to insure loans made by lenders other than the United States to the owner of any farm or any association of farmers for the purpose of providing housing and related facilities for domestic farm labor, or to any Indian tribe for such purpose, or to any State (or political subdivision thereof), or any broad-based public or private nonprofit organization, or any limited partnership in which the general partner is a nonprofit entity, or any nonprofit organization of farmworkers incorporated within the State for the purpose of providing housing and related facilities for domestic farm labor any place within the State where a need exists. All such loans shall be made in accordance with terms and conditions substantially identical with those specified in [section 1472 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1472&num=0&edition=prelim), except that—
(1) no such loan shall be insured in an amount in excess of the value of the farm involved less any prior liens in the case of a loan to an individual owner of a farm, or the total estimated value of the structures and facilities with respect to which the loan is made in the case of any other loan;
(2) no such loan shall be insured if it bears interest at a rate in excess of 1 per centum per annum;
(3) out of interest payments by the borrower the Secretary shall retain a charge in an amount not less than one-half of 1 per centum per annum of the unpaid principal balance of the loan;
(4) the insurance contracts and agreements with respect to any loan may contain provisions for servicing the loan by the Secretary or by the lender, and for the purchase by the Secretary of the loan
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Reporting requirements** Not later than 120 days after May 20, 2009, and quarterly thereafter, the Comptroller of the Currency and the Director of the Office of Thrift Supervision,11 So in original. The comma probably should not appear. shall jointly submit a report to the Committee on Banking, Housing, and Urban Affairs of the Senate,22 So in original. The word “and” probably should appear instead of the comma. the Committee on Financial Services of the House of Representatives on the volume of mortgage modifications reported to the Office of the Comptroller of the Currency and the Office of Thrift Supervision, under the mortgage metrics program of each such Office, during the previous quarter, including the following:
(1) A copy of the data collection instrument currently used by the Office of the Comptroller of the Currency and the Office of Thrift Supervision to collect data on loan modifications.
(2) The total number of mortgage modifications in each State that result in each of the following:
(A) Additions of delinquent payments and fees to loan balances.
(B) Interest rate reductions and freezes.
(C) Term extensions.
(D) Reductions of principal.
(E) Deferrals of principal.
(F) Combinations of modifications described in subparagraph (A), (B), (C), (D), or (E).
(3) The total number of mortgage modifications in each State for which the total monthly principal and interest payment resulted in the following:
(A) An increase.
(B) Remained the same.
(C) Decreased less than 10 percent.
(D) Decreased between 10 percent and 20 percent.
(E) Decreased 20 percent or more.
(4) The total number of loans in each State that have been modified and then entered into default, where the loan modification resulted in—
(A) higher monthly pay
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Purpose** The purpose of this section is to enable persons with disabilities to live with dignity and independence within their communities by expanding the supply of supportive housing that—
(1) is designed to accommodate the special needs of such persons;
(2) makes available supportive services that address the individual health, mental health, and other needs of such persons; and
(3) promotes and facilitates community integration for people with significant and long-term disabilities.
**(b) Authority to provide assistance** The Secretary is authorized to take the following actions:
(1) **Tenant-based assistance** — To provide tenant-based rental assistance to eligible persons with disabilities, in accordance with subsection (d)(4).
(2) **Capital advances** — To provide assistance to private, nonprofit organizations to expand the supply of supportive housing for persons with disabilities, which shall be provided as—
(A) capital advances in accordance with subsection (d)(1), and
(B) contracts for project rental assistance in accordance with subsection (d)(2);
assistance under this paragraph may be used to finance the acquisition, acquisition and moderate rehabilitation, construction, reconstruction, or moderate or substantial rehabilitation of housing, including the acquisition from the Resolution Trust Corporation, to be used as supportive housing for persons with disabilities and may include real property acquisition, site improvement, conversion, demolition, relocation, and other expenses that the Secretary determines are necessary to expand the supply of supportive housing for persons with disabilities.
(3) **Project rental assistance**
(A) *In general* — To offer additional methods of financing supportive housing for non-elderly adults with
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section, act June 27, 1934, ch. 847, title VIII, § 804, as added Aug. 8, 1949, ch. 403, § 1, 63 Stat. 575; amended Aug. 11, 1955, ch. 783, title IV, § 401, 69 Stat. 650, provided for disposition and use of excess moneys in Armed Services Housing Mortgage Insurance Fund, issue and cancellation of debentures, and receipt and payment of credits and charges.
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section, Pub. L. 88–560, title III, § 312, Sept. 2, 1964, 78 Stat. 790; Pub. L. 89–117, title III, §§ 311(e), 312, Aug. 10, 1965, 79 Stat. 479; Pub. L. 90–19, § 21(b), May 25, 1967, 81 Stat. 25; Pub. L. 90–448, title V, § 509, title VIII, § 807(b), Aug. 1, 1968, 82 Stat. 523, 544; Pub. L. 91–152, title II, § 207, Dec. 24, 1969, 83 Stat. 387; Pub. L. 93–85, § 4, Aug. 10, 1973, 87 Stat. 221; Pub. L. 93–117, § 10, Oct. 2, 1973, 87 Stat. 423; Pub. L. 93–383, title I, § 116(e), Aug. 22, 1974, 88 Stat. 652; Pub. L. 94–50, title III, § 301, July 2, 1975, 89 Stat. 256; Pub. L. 94–375, § 12, Aug. 3, 1976, 90 Stat. 1074; Pub. L. 95–128, title I, § 111, Oct. 12, 1977, 91 Stat. 1127; Pub. L. 95–557, title I, § 101(a), (b), Oct. 31, 1978, 92 Stat. 2080, 2081; Pub. L. 96–71, § 4, Sept. 28, 1979, 93 Stat. 502; Pub. L. 96–105, § 4, Nov. 8, 1979, 93 Stat. 795; Pub. L. 96–153, title I, § 101, Dec. 21, 1979, 93 Stat. 1101; Pub. L. 96–372, § 5, Oct. 3, 1980, 94 Stat. 1364; Pub. L. 96–399, title I, § 114, Oct. 8, 1980, 94 Stat. 1622; Pub. L. 97–35, title III, § 311, Aug. 13, 1981, 95 Stat. 397; Pub. L. 98–109, § 3, Oct. 1, 1983, 97 Stat. 746; Pub. L. 98–181, title I [title I, § 124], Nov. 30, 1983, 97 Stat. 1174; Pub. L. 99–120, § 2, Oct. 8, 1985, 99 Stat. 503; Pub. L. 99–156, § 2, Nov. 15, 1985, 99 Stat. 816; Pub. L. 99–219, § 2, Dec. 26, 1985, 99 Stat. 1731; Pub. L. 99–267, § 2, Mar. 27, 1986, 100 Stat. 74; Pub. L. 99–272, title III, § 3008, Apr. 7, 1986, 100 Stat. 105; Pub. L. 99–289, § 1(b), May 2, 1986, 100 Stat. 412; Pub. L. 99–345, § 1, June 24, 1986, 100 Stat. 673; Pub. L. 99–430, Sept. 30, 1986, 100 Stat. 986; Pub. L. 100–122, § 1, Sept. 30, 1987, 101 Stat. 793; Pub. L. 100–154, Nov. 5, 1987, 101 Stat. 890; Pub. L. 100–170, Nov. 17, 1987, 101 Stat. 914; Pub. L.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** The Secretary of Housing and Urban Development shall collect and maintain information regarding early defaults on mortgages as provided under this section. The Secretary shall make such information available for public inspection upon request. Information shall be collected quarterly with respect to each applicable collection period (as such term is defined in subsection (c)) and shall be available for inspection not more than 30 days after the conclusion of the calendar quarter relating to each such period. Information shall first be made available under this section for the applicable collection period relating to the first calendar quarter ending more than 180 days after November 28, 1990.
**(b) Contents**
(1) **Mortgage lender analysis** — Information collected under this section shall include, for each lender originating mortgages during the applicable collection period that are insured pursuant to [section 1709 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1709&num=0&edition=prelim) and secured by property in a designated census tract, the following information with respect to such mortgages:
(A) The name of the lender and the number of each designated census tract in which the lender originated 1 or more such mortgages during the applicable collection period.
(B) The total number of such mortgages originated by such lender during the applicable collection period in each designated census tract and the number of mortgages originated each year in each designated census tract.
(C) The total number of defaults and foreclosures on such mortgages during the applicable collection period in each designated census tract and the number of defaults and foreclosures in each designated census tract in
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** Until Congress shall further provide for the government of the Trust Territory of the Pacific Islands, all executive, legislative, and judicial authority necessary for the civil administration of the Trust Territory shall continue to be vested in such person or persons and shall be exercised in such manner and through such agency or agencies as the President of the United States may direct or authorize.
**(b)** The head of any department, corporation, or other agency of the executive branch of the Government may, upon the request of the Secretary of the Interior, extend to the Trust Territory of the Pacific Islands, with or without reimbursement, scientific, technical, and other assistance under any program administered by such agency, or extend to the Trust Territory any Federal program administered by such agency, if the assistance or program will promote the welfare of the Trust Territory, notwithstanding any provision of law under which the Trust Territory may otherwise be ineligible for the assistance or program: Provided, That the Secretary of the Interior shall not request assistance pursuant to this subsection that involves, in the aggregate, an estimated nonreimbursable cost in any one fiscal year in excess of $150,000: Provided further, That the cost of any program extended to the Trust Territory under this subsection shall be reimbursable out of appropriations authorized and made for the government of the Trust Territory pursuant to section 2 of this Act, as amended. The provisions of this subsection shall not apply to financial assistance under a grant-in-aid program.
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Federal law — U.S. Code and appendices · legal_authorities
Page 447
TITLE 12—BANKS AND BANKING
§ 1701q
date that is 18 months after the designated transfer
date if such regulations have not been issued by that
date, see section 1400(c) of Pub. L. 111–203, set out as an
Effective Date of 2010 Amendment note under section
1601 of Title 15, Commerce and Trade.
DEFINITION OF ‘‘BUREAU’’
‘‘Bureau’’ as meaning the Bureau of Consumer Finan-
cial Protection established under title X of Pub. L.
111–203, see section 5301 of this title.
§ 1701q. Supportive housing for the elderly
(a) Purpose
The purpose of this section is to enable elderly
persons to live with dignity and independence by
expanding the supply of supportive housing
that—
(1) is designed to accommodate the special
needs of elderly persons; and
(2) provides a range of services that are tai-
lored to the needs of elderly persons occupying
such housing.
(b) General authority
The Secretary is authorized to provide assist-
ance to private nonprofit organizations and con-
sumer cooperatives to expand the supply of sup-
portive housing for the elderly. Such assistance
shall be provided as (1) capital advances in ac-
cordance with subsection (c)(1), and (2) contracts
for project rental assistance in accordance with
subsection (c)(2). Such assistance may be used to
finance the construction, reconstruction, or
moderate or substantial rehabilitation of a
structure or a portion of a structure, or the ac-
quisition of a structure, to be used as supportive
housing for the elderly in accordance with this
section. Assistance may also cover the cost of
real property acquisition, site improvement,
conversion, demolition, relocation, and other ex-
penses that the Secretary determines are nec-
essary to expand the supply of supportive hous-
ing for the elderly.
(c) F
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1701q
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Federal law — U.S. Code and appendices · legal_authorities
Page 814
TITLE 12—BANKS AND BANKING
§ 1743
essary to carry out the provisions of this sub-
chapter.
(June 27, 1934, ch. 847, title VI, § 607, as added
Mar. 28, 1941, ch. 31, § 1, 55 Stat. 61; amended Apr.
20, 1950, ch. 94, title I, § 122, 64 Stat. 59; Pub. L.
90–19, § 1(a)(3), May 25, 1967, 81 Stat. 17.)
Editorial Notes
AMENDMENTS
1967—Pub. L. 90–19 substituted ‘‘Secretary’’ for ‘‘Com-
missioner’’.
1950—Act Apr. 20, 1950, substituted ‘‘Commissioner’’
for ‘‘Administrator’’.
§ 1743. Insurance of mortgages
(a) Additional authorization; advances during
construction
In addition to mortgages insured under sec-
tion 1738 of this title, the Secretary is author-
ized to insure mortgages as defined in section
1736 of this title (including advances on such
mortgages during construction) which are eligi-
ble for insurance as hereinafter provided.
(b) Eligibility requirements
To be eligible for insurance under this section
a mortgage shall meet the following conditions:
(1) The mortgaged property shall be held by
a mortgagor approved by the Secretary. The
Secretary may, in his discretion, require such
mortgagor to be regulated or restricted as to
rents or sales, charges, capital structure, rate
of return, and methods of operation. The Sec-
retary may make such contracts with, and ac-
quire for not to exceed $100 stock or interest in
any such mortgagor, as the Secretary may
deem necessary to render effective such re-
striction or regulation. Such stock or interest
shall be paid for out of the General Insurance
Fund, and shall be redeemed by the mortgagor
at par upon the termination of all obligations
of the Secretary under the insurance.
(2) Preference or priority of opportunity in
the occupancy of the mortgaged property for
veterans of World War II an
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1743
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