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12 U.S.C. § 1715s — Home inspection counseling
Federal law — U.S. Code and appendices · legal_authorities
**(a) Public outreach**
(1) **In general** — The Secretary of Housing and Urban Development (in this section referred to as the “Secretary”) shall take such actions as may be necessary to inform potential homebuyers of the availability and importance of obtaining an independent home inspection. Such actions shall include—
(A) publication of the HUD/FHA form HUD 92564–CN entitled “For Your Protection: Get a Home Inspection”, in both English and Spanish languages;
(B) publication of the HUD/FHA booklet entitled “For Your Protection: Get a Home Inspection”, in both English and Spanish languages;
(C) development and publication of a HUD booklet entitled “For Your Protection—Get a Home Inspection” that does not reference FHA-insured homes, in both English and Spanish languages; and
(D) publication of the HUD document entitled “Ten Important Questions To Ask Your Home Inspector”, in both English and Spanish languages.
(2) **Availability** — The Secretary shall make the materials specified in paragraph (1) available for electronic access and, where appropriate, inform potential homebuyers of such availability through home purchase counseling public service announcements and toll-free telephone hotlines of the Department of Housing and Urban Development. The Secretary shall give special emphasis to reaching first-time and low-income homebuyers with these materials and efforts.
(3) **Updating** — The Secretary may periodically update and revise such materials, as the Secretary determines to be appropriate.
**(b) Requirement for FHA-approved lenders** Each mortgagee approved for participation in the mortgage insurance programs under title II of the National Housing Act [[12 U.S.C. 1707](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section17
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Source file: Laws/federal/codes/united-states-code/title-12/section-1715s-home-inspection-counseling--ae53b28a4a.md
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Source location: Title 12, Chapter 13, § 1715s; chapter-013-national-housing.md
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**(a) Public outreach**
(1) **In general** — The Secretary of Housing and Urban Development (in this section referred to as the “Secretary”) shall take such actions as may be necessary to inform potential homebuyers of the availability and importance of obtaining an independent home inspection. Such actions shall include—
(A) publication of the HUD/FHA form HUD 92564–CN entitled “For Your Protection: Get a Home Inspection”, in both English and Spanish languages;
(B) publication of the HUD/FHA booklet entitled “For Your Protection: Get a Home Inspection”, in both English and Spanish languages;
(C) development and publication of a HUD booklet entitled “For Your Protection—Get a Home Inspection” that does not reference FHA-insured homes, in both English and Spanish languages; and
(D) publication of the HUD document entitled “Ten Important Questions To Ask Your Home Inspector”, in both English and Spanish languages.
(2) **Availability** — The Secretary shall make the materials specified in paragraph (1) available for electronic access and, where appropriate, inform potential homebuyers of such availability through home purchase counseling public service announcements and toll-free telephone hotlines of the Department of Housing and Urban Development. The Secretary shall give special emphasis to reaching first-time and low-income homebuyers with these materials and efforts.
(3) **Updating** — The Secretary may periodically update and revise such materials, as the Secretary determines to be appropriate.
**(b) Requirement for FHA-approved lenders** Each mortgagee approved for participation in the mortgage insurance programs under title II of the National Housing Act [[12 U.S.C. 1707](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1707&num=0&edition=prelim) et seq.] shall provide prospective homebuyers, at first contact, whether upon pre-qualification, pre-approval, or initial application, the materials specified in subparagraphs (A), (B), and (D) of subsection (a)(1).
**(c) Requirements for HUD-approved counseling agencies** Each counseling agency certified pursuant by 11 So in original. the Secretary to provide housing counseling services shall provide each of their clients, as part of the home purchase counseling process, the materials specified in subparagraphs (C) and (D) of subsection (a)(1).
**(d) Training** Training provided the Department of Housing and Urban Development for housing counseling agencies, whether such training is provided directly by the Department or otherwise, shall include—
(1) providing information on counseling potential homebuyers of the availability and importance of getting an independent home inspection;
(2) providing information about the home inspection process, including the reasons for specific inspections such as radon and lead-based paint testing;
(3) providing information about advising potential homebuyers on how to locate and select a qualified home inspector; and
(4) review of home inspection public outreach materials of the Department.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Informed use of credit** The Congress finds that economic stabilization would be enhanced and the competition among the various financial institutions and other firms engaged in the extension of consumer credit would be strengthened by the informed use of credit. The informed use of credit results from an awareness of the cost thereof by consumers. It is the purpose of this subchapter to assure a meaningful disclosure of credit terms so that the consumer will be able to compare more readily the various credit terms available to him and avoid the uninformed use of credit, and to protect the consumer against inaccurate and unfair credit billing and credit card practices.
**(b) Terms of personal property leases** The Congress also finds that there has been a recent trend toward leasing automobiles and other durable goods for consumer use as an alternative to installment credit sales and that these leases have been offered without adequate cost disclosures. It is the purpose of this subchapter to assure a meaningful disclosure of the terms of leases of personal property for personal, family, or household purposes so as to enable the lessee to compare more readily the various lease terms available to him, limit balloon payments in consumer leasing, enable comparison of lease terms with credit terms where appropriate, and to assure meaningful and accurate disclosures of lease terms in advertisements.
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
#### Codification
Section, which placed restrictions on loans, was from the Independent Offices Appropriation Act, 1953, act July 5, 1952, ch. 578, title III, § 301, 66 Stat. 415, and was not repeated in subsequent appropriation acts.
#### Similar Provisions
Similar provisions were contained in Aug. 31, 1951, ch. 376, title IV, § 401, 65 Stat. 287.
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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
This chapter may be cited as the “National Housing Act.”
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Federal law — U.S. Code and appendices · legal_authorities
Page 532
TITLE 12—BANKS AND BANKING
§ 1706f
new grants or loans to be made after Oct. 1, 1991, under
this section, see section 12839(a)(5), (b)(1) of Title 42,
The Public Health and Welfare.
§ 1706f. Prohibition against kickbacks and un-
earned fees
(a) In general
Except as provided in subsection (b), the provi-
sions of sections 2602, 2607, 2614, 2615, 2616, and
2617 of this title shall apply to each sale of a
manufactured home financed with an FHA-in-
sured loan or extension of credit, as well as to
services rendered in connection with such trans-
actions.
(b) Authority of the Secretary
The Secretary is authorized to determine the
manner and extent to which the provisions of
sections 2602, 2607, 2614, 2615, 2616, and 2617 of
this title may reasonably be applied to the
transactions described in subsection (a), and to
grant such exemptions as may be necessary to
achieve the purposes of this section.
(c) Definitions
For purposes of this section—
(1) the term ‘‘federally related mortgage
loan’’ as used in sections 2602, 2607, 2614, 2615,
2616, and 2617 of this title shall include an
FHA-insured loan or extension of credit made
to a borrower for the purpose of purchasing a
manufactured home that the borrower intends
to occupy as a personal residence; and
(2) the term ‘‘real estate settlement service’’
as used in sections 2602, 2607, 2614, 2615, 2616,
and 2617 of this title shall include any service
rendered in connection with a loan or exten-
sion of credit insured by the Federal Housing
Administration for the purchase of a manufac-
tured home.
(d) Unfair and deceptive practices
In connection with the purchase of a manufac-
tured home financed with a loan or extension of
credit insured by the Federal Housing Adminis-
tration under this subc
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1707
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Federal law — U.S. Code and appendices · legal_authorities
Page 636
TITLE 12—BANKS AND BANKING
§ 1715s
1 So in original. Probably should be followed by ‘‘is’’.
should not exceed the approved percentage of the Com-
missioner’s estimate of the fair market value of the
land and improvements; and inserted provisions at end
relating to 10 percent allowance for builder’s profit in
mortgages issued under section 1715k.
1955—Act Aug. 11, 1955, substituted ‘‘under section
1715l of this title if the mortgage meets the require-
ments of paragraph (3) of subsection (d) of such sec-
tion’’ for ‘‘under section 1715l of this title’’.
§ 1715s. Treatment of mortgages covering tax
credit projects
(a) Definition
For purposes of this section, the term ‘‘insured
mortgage covering a tax credit project’’ means a
mortgage insured under any provision of this
subchapter that is executed in connection with
the construction, rehabilitation, purchase, or re-
financing of a multifamily housing project for
which equity 1 provided through any low-income
housing tax credit pursuant to section 42 of title
26.
(b) Acceptance of letters of credit
In the case of an insured mortgage covering a
tax credit project, the Secretary may not re-
quire the escrowing of equity provided by the
sale of any low-income housing tax credits for
the project pursuant to section 42 of title 26, or
any other form of security, such as a letter of
credit.
(c) Asset management requirements
In the case of an insured mortgage covering a
tax credit project for which project the applica-
ble tax credit allocating agency is causing to be
performed periodic inspections in compliance
with the requirements of section 42 of title 26,
such project shall be exempt from requirements
imposed by the Secretary regarding periodic in-
spections of the property by the mort
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1715s
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