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12 U.S.C. § 1707 — Omitted
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.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1707
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Stable record: federal_law:legal_authorities:record_usc_ab51791039cc0153f9bf4ce2
Source file: Laws/federal/codes/united-states-code/title-12/section-1707-omitted--8d51b737e5.md
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Source location: Title 12, Chapter 13, § 1707; chapter-013-national-housing.md
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### 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** Each Federal Home Loan Bank is authorized to make advances to nonmember mortgagees approved 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.]. Such mortgagees must be chartered institutions having succession and subject to the inspection and supervision of some governmental agency, and whose principal activity in the mortgage field must consist of lending their own funds. Such advances shall not be subject to the other provisions and restrictions of this chapter, but shall be made upon the security of insured mortgages, insured under title II of the National Housing Act. Advances made under the terms of this section shall be at such rates of interest and upon such terms and conditions as shall be determined by the Director, but no advance may be for an amount in excess of 90 per centum of the unpaid principal of the mortgage loan given as security.
**(b) Exception** An advance made to a State housing finance agency for the purpose of facilitating mortgage lending that benefits individuals and families that meet the income requirements set forth in section 142(d) or 143(f) of title 26, need not be collateralized by a mortgage insured 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.] or otherwise, if—
(1) such advance otherwise meets the requirements of this subsection; and
(2) such advance meets the requirements of [section 1430(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1430/a&num=0&edition=prelim), and any real estate collateral for such loan comprises sin
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1430b
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Federal law — U.S. Code and appendices · legal_authorities
As used in this subchapter, the terms “mortgage”, “first mortgage”, “mortgagee”, “mortgagor”, “maturity date”, and “State” shall have the same meaning as in [section 1707 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1707&num=0&edition=prelim).
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1701z–9
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Federal law — U.S. Code and appendices · legal_authorities
This chapter may be cited as the “National Housing Act.”
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1702
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Warranty requirements** The Secretary of Housing and Urban Development is authorized and directed to require that, in connection with any property upon which there is located a dwelling designed principally for not more than a four-family residence and which is approved for mortgage insurance prior to the beginning of construction, the seller or builder, and such other person as may be required by the said Secretary to become warrantor, shall deliver to the purchaser or owner of such property a warranty that the dwelling is constructed in substantial conformity with the plans and specifications (including any amendments thereof, or changes and variations therein, which have been approved in writing by the Secretary of Housing and Urban Development) on which the Secretary of Housing and Urban Development based his valuation of the dwelling: Provided, That the Secretary of Housing and Urban Development shall deliver to the builder, seller, or other warrantor his written approval (which shall be conclusive evidence of such approval) of any amendment of, or change or variation in, such plans and specifications which the Secretary deems to be a substantial amendment thereof, or change or variation therein, and shall file a copy of such written approval with such plans and specifications: Provided further, That such warranty shall apply only with respect to such instances of substantial nonconformity to such approved plans and specifications (including any amendments thereof, or changes or variations therein, which have been approved in writing, as provided herein, by the Secretary of Housing and Urban Development) as to which the purchaser or homeowner has given written notice to the warrantor within one year from the date of conveyance of title to, or initial occupanc
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1711
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Federal law — U.S. Code and appendices · legal_authorities
**(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 tailored to the needs of elderly persons occupying such housing.
**(b) General authority** The Secretary is authorized to provide assistance to private nonprofit organizations and consumer cooperatives to expand the supply of supportive housing for the elderly. Such assistance shall be provided as (1) capital advances in accordance 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 acquisition 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 expenses that the Secretary determines are necessary to expand the supply of supportive housing for the elderly.
**(c) Forms of assistance**
(1) **Capital advances** — A capital advance provided under this section shall bear no interest and its repayment shall not be required so long as the housing remains available for very low-income elderly persons in accordance with this section. Such advance shall be in an amount calculated in accordance with the development cost limitation established in subsection (h).
(2) **Project rental assistance** — Contracts for project rental assistance shall obligate the Secretary to make monthly payments to cover any part of t
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1715g
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Authorization; maximum term; maximum aggregate amount** The Secretary of Housing and Urban Development (hereinafter referred to as the “Secretary”) is authorized to make, and contract to make, annual payments to a “housing owner” on behalf of “qualified tenants”, as those terms are defined herein, in such amounts and under such circumstances as are prescribed in or pursuant to this section. In no case shall a contract provide for such payments with respect to any housing for a period exceeding forty years. The aggregate amount of the contracts to make such payments shall not exceed amounts approved in appropriation Acts, and payments pursuant to such contracts shall not exceed $150,000,000 per annum prior to July 1, 1969, which maximum dollar amount shall be increased by $40,000,000, on July 1, 1969, by $100,000,000 on July 1, 1970, and by $40,000,000 on July 1, 1971.
**(b) “Housing owner” defined; limitation on payments to housing owner** As used in this section, the term “housing owner” means a private nonprofit corporation or other private nonprofit legal entity, a limited dividend corporation or other limited dividend legal entity, or a cooperative housing corporation, which is a mortgagor under section 221(d)(3) of the National Housing Act [[12 U.S.C. 1715](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1715&num=0&edition=prelim)l(d)(3)] and which, after August 10, 1965, has been approved for mortgage insurance thereunder and has been approved for receiving the benefits of this section: Provided, That, except as provided in subsection (j), no payments under this section may be made with respect to any property financed with a mortgage receiving the benefits of the interest rate provided for in the proviso in section 221(d)(5) of
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1715m
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Authorization to provide information, advice, and technical assistance; scope of assistance; authorization of appropriations**
(1) The Secretary is authorized to provide, or contract with public or private organizations to provide, information, advice, and technical assistance, including but not limited to—
(i) the assembly, correlation, publication, and dissemination of information with respect to the construction, rehabilitation, and operation of low- and moderate-income housing;
(ii) the provision of advice and technical assistance to public bodies or to nonprofit or cooperative organizations with respect to the construction, rehabilitation, and operation of low- and moderate-income housing, including assistance with respect to self-help and mutual self-help programs;
(iii) counseling and advice to tenants and homeowners with respect to property maintenance, financial management, and such other matters as may be appropriate to assist them in improving their housing conditions and in meeting the responsibilities of tenancy or homeownership; and
(iv) the provision of technical assistance to communities, particularly smaller communities, to assist such communities in planning, developing, and administering Community Development Programs pursuant to title I of the Housing and Community Development Act of 1974 [[42 U.S.C. 5301](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section5301&num=0&edition=prelim) et seq.].
(2) The Secretary (A) shall provide the services described in clause (iii) of paragraph (1) for homeowners assisted under section 235 of the National Housing Act [[12 U.S.C. 1715z](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1715z&num=0&edition=prelim)]; (B) shall, in consultation with
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1715r
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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
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1715s
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Supplemental system; limitation on amount; termination of authority** To assist in providing adequate housing for families of low and moderate income, particularly in suburban and outlying areas, this section is designed to supplement systems of mortgage insurance under other provisions of this chapter by making feasible the insurance of mortgages covering properties in areas where it is not practicable to obtain conformity with many of the requirements essential to the insurance of mortgages on housing in built-up urban areas. The Secretary is authorized, upon application by the mortgagee, to insure, as hereinafter provided, any mortgage (as defined in [section 1707 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1707&num=0&edition=prelim)) offered to him which is eligible for insurance as hereinafter provided, and, upon such terms as the Secretary may prescribe, to make commitments for the insuring of such mortgages prior to the date of their execution or disbursement thereon: Provided, That the aggregate amount of principal obligations of all mortgages insured under this section and outstanding at any one time shall not exceed $100,000,000, except that with the approval of the President such aggregate amount may be increased at any time or times by additional amounts aggregating not more than $150,000,000 upon a determination by the President, taking into account the general effect of any such increase upon conditions in the building industry and upon the national economy, that such increase is in the public interest: And provided further, That no mortgage shall be insured under this section after August 2, 1954, except pursuant to a commitment to insure issued on or before such date.
**(b) Eligibility conditions** To
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1715z–16
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Authorization** The Secretary is authorized, upon application by the mortgagee, to insure as hereinafter provided any mortgage offered to him which is eligible for insurance as hereinafter provided, and, upon such terms as the Secretary may prescribe, to make commitments for the insuring of such mortgages prior to the date of their execution or disbursement thereon.
**(b) Eligibility for insurance; mortgage limits** To be eligible for insurance under this section a mortgage shall comply with the following:
(1) Have been made to, and be held by, a mortgagee approved by the Secretary as responsible and able to service the mortgage properly.
(2) Involve a principal obligation (including such initial service charges, appraisal, inspection, and other fees as the Secretary shall approve) in an amount—
(A) not to exceed the lesser of—
(i) in the case of a 1-family residence, 115 percent of the median 1-family house price in the area, as determined by the Secretary; and in the case of a 2-, 3-, or 4-family residence, the percentage of such median price that bears the same ratio to such median price as the dollar amount limitation determined under the sixth sentence of [section 1454(a)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1454/a/2&num=0&edition=prelim) for a 2-, 3-, or 4-family residence, respectively, bears to the dollar amount limitation determined under such section for a 1-family residence; or
(ii) 150 percent of the dollar amount limitation determined under the sixth sentence of such section 1454(a)(2) for a residence of applicable size;
except that the dollar amount limitation in effect under this subparagraph for any size residence for any area may not be less than the greater of: (I) the d
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1715z–22
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