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12 U.S.C. § 1723e — Repealed. Pub. L. 100–242, title IV, § 401(a)(1), Feb. 5, 1988, 101 Stat. 1898

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 1723e — Repealed. Pub. L. 100–242, title IV, § 401(a)(1), Feb. 5, 1988, 101 Stat. 1898

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Source file: Laws/federal/codes/united-states-code/title-12/section-1723e-repealed-pub-l-100242-title-iv-401-a-1-feb-5-1988-101-stat-1898--5b54a2fc7d.md
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Source location: Title 12, Chapter 13, § 1723e; chapter-013-national-housing.md

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### Statutory Notes Section, act June 27, 1934, ch. 847, title II, § 217, as added Sept. 1, 1951, ch. 378, title VI, § 607, 65 Stat. 315; amended July 14, 1952, ch. 723, § 2, 66 Stat. 601; June 30, 1953, ch. 170, § 7, 67 Stat. 123; Aug. 2, 1954, ch. 649, title I, § 121, 68 Stat. 596; Mar. 11, 1955, ch. 10, 69 Stat. 11; Aug. 11, 1955, ch. 783, title I, § 102(f), 69 Stat. 636; Aug. 7, 1956, ch. 1029, title I, § 106, 70 Stat. 1094; June 4, 1958, Pub. L. 85–442, 72 Stat. 176; Sept. 23, 1959, Pub. L. 86–372, title I, § 107, 73 Stat. 657; May 25, 1961, Pub. L. 87–38, 75 Stat. 85; June 30, 1961, Pub. L. 87–70, title VI, § 604(c), 75 Stat. 177; Aug. 10, 1965, Pub. L. 89–117, title II, § 202(b), 79 Stat. 465; Sept. 30, 1969, Pub. L. 91–78, § 2(b), 83 Stat. 125; Dec. 24, 1969, Pub. L. 91–152, title I, § 101(b), 83 Stat. 379; Oct. 2, 1970, Pub. L. 91–432, § 1(b), 84 Stat. 887; Oct. 21, 1970, Pub. L. 91–473, § 1(b), 84 Stat. 1064; Dec. 1, 1970, Pub. L. 91–525, § 1(b), 84 Stat. 1384; Dec. 31, 1970, Pub. L. 91–609, title I, § 101(b), 84 Stat. 1770; Oct. 18, 1972, Pub. L. 92–503, § 1(b), 86 Stat. 906; Aug. 10, 1973, Pub. L. 93–85, § 1(b), 87 Stat. 220; Oct. 2, 1973, Pub. L. 93–117, § 1(b), 87 Stat. 421; Aug. 22, 1974, Pub. L. 93–383, title III, § 316(b), 88 Stat. 685; June 30, 1977, Pub. L. 95–60, § 1(b), 91 Stat. 257; July 31, 1977, Pub. L. 95–80, § 1(b), 91 Stat. 339; Oct. 12, 1977, Pub. L. 95–128, title III, § 301(b), 91 Stat. 1131; Sept. 30, 1978, Pub. L. 95–406, § 1(b), 92 Stat. 879; Oct. 31, 1978, Pub. L. 95–557, title III, § 301(b), 92 Stat. 2096; Sept. 28, 1979, Pub. L. 96–71, § 1(b), 93 Stat. 501; Nov. 8, 1979, Pub. L. 96–105, § 1(b), 93 Stat. 794; Dec. 21, 1979, Pub. L. 96–153, title III, § 301(b), 93 Stat. 1111; Oct. 3, 1980, Pub. L. 96–372, § 1(b), 94 Stat. 1363; Oct. 8, 1980, Pub. L. 96–399, title III, § 301(b), 94 Stat. 1638; Aug. 13, 1981, Pub. L. 97–35, title III, § 331(b), 95 Stat. 412; Oct. 6, 1982, Pub. L. 97–289, § 1(b), 96 Stat. 1230; May 26, 1983, Pub. L. 98–35, § 1(b), 97 Stat. 197; Oct. 1, 1983, Pub. L. 98–109, § 1(b), 97 Stat. 745; Nov. 30, 1983, Pub. L. 98–181, title I [title IV, § 401(b)], 97 Stat. 1207; Oct. 17, 1984, Pub. L. 98–479, title II, § 204(a)(5), 98 Stat. 2232; Oct. 8, 1985, Pub. L. 99–120, § 1(b), 99 Stat. 502; Nov. 15, 1985, Pub. L. 99–156, § 1(b), 99 Stat. 815; Dec. 26, 1985, Pub. L. 99–219, § 1(b), 99 Stat. 1730; Mar. 27, 1986, Pub. L. 99–267, § 1(b), 100 Stat. 73; Apr. 7, 1986, Pub. L. 99–272, title III, § 3007(b), 100 Stat. 104; May 2, 1986, Pub. L. 99–289, § 1(b), 100 Stat. 412; June 24, 1986, Pub. L. 99–345, § 1, 100 Stat. 673; Sept. 30, 1986, Pub. L. 99–430, 100 Stat. 986; Sept. 30, 1987, Pub. L. 100–122, § 1, 101 Stat. 793; Nov. 5, 1987, Pub. L. 100–154, 101 Stat. 890; Nov. 17, 1987, Pub. L. 100–170, 101 Stat. 914; Dec. 3, 1987, Pub. L. 100–179, 101 Stat. 1018; Dec. 21, 1987, Pub. L. 100–200, 101 Stat. 1327, prohibited (except with respect to insurance of a loan or mortgage pursuant to section 1703, 1715l, 1715z, 1715z–1, 1715z–9, or 1715z–10 of this title or subchapter VIII, IX–A, or IX–B of this chapter (subject to any limitations thereunder on the time of such insurance)) the insurance of any loan or mortgage under this chapter after Mar. 15, 1988, except pursuant to a commitment to insure before such date.

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 1702 — Short title

This chapter may be cited as the “National Housing Act.”

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 1747d — Management and liquidation functions of Government National Mortgage Association

**(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

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12 U.S.C. § 1747k — Repealed. Pub. L. 98–181, title I [title IV, § 483(a)], Nov. 30, 1983, 97 Stat. 1240

### Statutory Notes Section, act June 27, 1934, ch. 847, title III, § 313, as added Oct. 18, 1974, Pub. L. 93–449, § 3(a), 88 Stat. 1364; amended July 2, 1975, Pub. L. 94–50, title II §§ 201–206, 89 Stat. 254, 255; Aug. 3, 1976, Pub. L. 94–375, § 13(e)(1), 90 Stat. 1075; Oct. 12, 1977, Pub. L. 95–128, title IV, § 407(a)–(d), 91 Stat. 1137, 1138; Oct. 8, 1980, Pub. L. 96–399, title III, § 337(b), 94 Stat. 1655, related to the interim mortgage and security purchasing authority of the Association. #### Savings Provision For continued application of former sections 1720 and 1723e of this title to any purchase or commitment to purchase any mortgage made pursuant to those sections before Nov. 30, 1983, and the servicing and disposition of any such mortgage, see section 483(b) of Pub. L. 98–181, set out as a note under [section 1720 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1720&num=0&edition=prelim). #### Effective Date Pub. L. 93–449, § 3(b), Oct. 18, 1974, 88 Stat. 1366, as amended by Pub. L. 94–50, title II, § 207, July 2, 1975, 89 Stat. 256; Pub. L. 94–375, § 13(d), Aug. 3, 1976, 90 Stat. 1075; Pub. L. 95–128, title IV, § 407(e), Oct. 12, 1977, 91 Stat. 1138; Pub. L. 95–406, § 3, Sept. 30, 1978, 92 Stat. 880; Pub. L. 95–557, title III, § 303, Oct. 31, 1978, 92 Stat. 2096; Pub. L. 96–71, § 3, Sept. 28, 1979, 93 Stat. 502; Pub. L. 96–105, § 3, Nov. 8, 1979, 93 Stat. 795; Pub. L. 96–153, title III, § 303, Dec. 21, 1979, 93 Stat. 1112; Pub. L. 96–372, § 4, Oct. 3, 1980, 94 Stat. 1364; Pub. L. 96–399, title III, § 337(a), Oct. 8, 1980, 94 Stat. 1655, which related to the effective date of former [section 1723e of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1723e&num=0&edition=prelim

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 2701 — Congressional findings and declaration of purpose

**(a)** The Congress finds that— (1) the Nation is in a severe recession and that the sharp downturn in economic activity has driven large numbers of workers into unemployment and has reduced the incomes of many others; (2) as a result of these adverse economic conditions the capacity of many homeowners to continue to make mortgage payments has deteriorated and may further deteriorate in the months ahead, leading to the possibility of widespread mortgage foreclosures and distress sales of homes; and (3) many of these homeowners could retain their homes with temporary financial assistance until economic conditions improve. **(b)** It is the purpose of this chapter to provide a standby authority which will prevent widespread mortgage foreclosures and distress sales of homes resulting from the temporary loss of employment and income through a program of emergency loans and advances and emergency mortgage relief payments to homeowners to defray mortgage expenses.

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12 U.S.C. § 1723e — Repealed. Pub. L. 98–181, title I [title IV,

Page 778 TITLE 12—BANKS AND BANKING § 1723e comprises this chapter or of the Federal National Mort- gage Charter Association Act which comprises this sub- chapter. § 1723e. Repealed. Pub. L. 98–181, title I [title IV, § 483(a)], Nov. 30, 1983, 97 Stat. 1240 Section, act June 27, 1934, ch. 847, title III, § 313, as added Oct. 18, 1974, Pub. L. 93–449, § 3(a), 88 Stat. 1364; amended July 2, 1975, Pub. L. 94–50, title II §§ 201–206, 89 Stat. 254, 255; Aug. 3, 1976, Pub. L. 94–375, § 13(e)(1), 90 Stat. 1075; Oct. 12, 1977, Pub. L. 95–128, title IV, § 407(a)–(d), 91 Stat. 1137, 1138; Oct. 8, 1980, Pub. L. 96–399, title III, § 337(b), 94 Stat. 1655, related to the interim mortgage and security purchasing authority of the As- sociation. Statutory Notes and Related Subsidiaries SAVINGS PROVISION For continued application of former sections 1720 and 1723e of this title to any purchase or commitment to purchase any mortgage made pursuant to those sec- tions before Nov. 30, 1983, and the servicing and disposi- tion of any such mortgage, see section 483(b) of Pub. L. 98–181, set out as a note under section 1720 of this title. EFFECTIVE DATE Pub. L. 93–449, § 3(b), Oct. 18, 1974, 88 Stat. 1366, as amended by Pub. L. 94–50, title II, § 207, July 2, 1975, 89 Stat. 256; Pub. L. 94–375, § 13(d), Aug. 3, 1976, 90 Stat. 1075; Pub. L. 95–128, title IV, § 407(e), Oct. 12, 1977, 91 Stat. 1138; Pub. L. 95–406, § 3, Sept. 30, 1978, 92 Stat. 880; Pub. L. 95–557, title III, § 303, Oct. 31, 1978, 92 Stat. 2096; Pub. L. 96–71, § 3, Sept. 28, 1979, 93 Stat. 502; Pub. L. 96–105, § 3, Nov. 8, 1979, 93 Stat. 795; Pub. L. 96–153, title III, § 303, Dec. 21, 1979, 93 Stat. 1112; Pub. L. 96–372, § 4, Oct. 3, 1980, 94 Stat. 1364; Pub. L. 96–399, title III, § 337(a), Oct. 8, 1980,

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