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12 U.S.C. § 1721 — Repealed. June 3, 1939, ch. 175, § 13, 53 Stat. 807
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Act June 3, 1939, ch. 175, § 13, 53 Stat. 807, which repealed this section, also provided: “That the Administrator is authorized to insure under said section [this section] any mortgage for the insurance of which an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].”
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Stable record: federal_law:legal_authorities:record_usc_ac1036446e39f5ca07598fc9
Source file: Laws/federal/codes/united-states-code/title-12/section-1721-repealed-june-3-1939-ch-175-13-53-stat-807--9f47420078.md
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Source location: Title 12, Chapter 13, § 1721; chapter-013-national-housing.md
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### 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Act June 3, 1939, ch. 175, § 13, 53 Stat. 807, which repealed this section, also provided: “That the Administrator is authorized to insure under said section [this section] any mortgage for the insurance of which an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].”
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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) Purpose** The purpose of this section is to assist the provision of urgently needed hospitals for the care and treatment of persons who are acutely ill or who otherwise require medical care and related services of the kind customarily furnished only (or most effectively) by hospitals. Such assistance shall be provided regardless of the amount of public financial or other support a hospital may receive, and the Secretary shall neither require additional security or collateral to guarantee such support, nor impose more stringent eligibility or other requirements on publicly owned or supported hospitals.
**(b) Definitions** For the purposes of this section—
(1) the term “hospital” means a facility—
(A) which provides community service for inpatient medical care of the sick or injured (including obstetrical care);
(B) not more than 50 per centum of the total patient days of which during any year are customarily assignable to the categories of chronic convalescent and rest, drug and alcoholic, epileptic, mentally deficient, mental, nervous and mental, and tuberculosis, unless the facility is a critical access hospital (as that term is defined in section 1861(mm)(1) of the Social Security Act ([42 U.S.C. 1395x(mm)(1)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1395x/mm/1&num=0&edition=prelim))); and
(C) which is a public facility, proprietary facility, or facility of a private nonprofit corporation or association, licensed or regulated by the State (or, if there is no State law providing for such licensing or regulation by the State, by the municipality or other political subdivision in which the facility is located); and
(2) the terms “mortgage” and “mortgagor” shall have the meanings respectfully set forth in [section 1713(
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1735f–8
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment** There is established in the Federal Housing Administration a HOPE for Homeowners Program.
**(b) Purpose** The purpose of the HOPE for Homeowners Program is—
(1) to create an FHA program, participation in which is voluntary on the part of homeowners and existing loan holders to insure refinanced loans for distressed borrowers to support long-term, sustainable homeownership;
(2) to allow homeowners to avoid foreclosure by reducing the principle 11 So in original. Probably should be “principal”. balance outstanding, and interest rate charged, on their mortgages;
(3) to help stabilize and provide confidence in mortgage markets by bringing transparency to the value of assets based on mortgage assets;
(4) to target mortgage assistance under this section to homeowners for their principal residence;
(5) to enhance the administrative capacity of the FHA to carry out its expanded role under the HOPE for Homeowners Program;
(6) to ensure the HOPE for Homeowners Program remains in effect only for as long as is necessary to provide stability to the housing market; and
(7) to provide servicers of delinquent mortgages with additional methods and approaches to avoid foreclosure.
**(c) Establishment and implementation of program requirements**
(1) **Duties of Secretary** — In order to carry out the purposes of the HOPE for Homeowners Program, the Secretary, after consultation with the Board, shall—
(A) establish requirements and standards for the program consistent with [section 1709(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1709/b&num=0&edition=prelim) to the maximum extent possible; and
(B) prescribe such regulations and provide such guidance as may be necessary or appropriate to implement such r
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1741
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Federal law — U.S. Code and appendices · legal_authorities
The purposes of this title 11 See References in Text note below. include the partition of the Federal National Mortgage Association as heretofore existing into two separate and distinct corporations, each of which shall have continuity and corporate succession as a separated portion of the previously existing corporation. One of such corporations, to be known as Federal National Mortgage Association, will be a Government-sponsored private corporation, will retain the assets and liabilities of the previously existing corporation accounted for under [section 1719 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1719&num=0&edition=prelim), and will continue to operate the secondary market operations authorized by such section 1719. The other, to be known as Government National Mortgage Association, will remain in the Government, will retain the assets and liabilities of the previously existing corporation accounted for under sections 1720 1 and 1721 of this title, and will continue to operate the special assistance functions and management and liquidating functions authorized by such sections 1720 1 and 1721.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1746
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Creation; succession; principal and other offices**
(1) There is created a body corporate to be known as the “Federal National Mortgage Association”, which shall be in the Department of Housing and Urban Development. The Association shall have succession until dissolved by Act of Congress. It shall maintain its principal office in the District of Columbia and shall be deemed, for purposes of venue in civil actions, to be a resident thereof. Agencies or offices may be established by the Association in such other place or places as it may deem necessary or appropriate in the conduct of its business.
(2) On September 1, 1968, the body corporate described in the foregoing paragraph shall cease to exist in that form and is hereby partitioned into two separate and distinct bodies corporate, each of which shall have continuity and corporate succession as a separated portion of the previously existing body corporate, as follows:
(A) One of such separated portions shall be a body corporate without capital stock to be known as Government National Mortgage Association (hereinafter referred to as the “Association”), which shall be in the Department of Housing and Urban Development and which shall retain the assets and liabilities acquired and incurred under sections 1720 11 See References in Text note below. and 1721 of this title prior to such date, including any and all liabilities incurred pursuant to subsection (c). The Association shall have succession until dissolved by Act of Congress. It shall maintain its principal office in the District of Columbia and shall be deemed, for purposes of venue in civil actions, to be a resident thereof. Agencies or offices may be established by the Association in such other place or places as it may deem necessary or appropriate i
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1746a
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Federal law — U.S. Code and appendices · legal_authorities
**(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
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1747d
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Federal law — U.S. Code and appendices · legal_authorities
### 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
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1747k
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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.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1750a
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Fee Recoupment.—** Except as provided in subsection (d) and notwithstanding [section 3703 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section3703&num=0&edition=prelim) or any other provision of law, a loan to a veteran for a purpose specified in [section 3710 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section3710&num=0&edition=prelim) that is being refinanced may not be guaranteed or insured under this chapter unless—
(1) the issuer of the refinanced loan provides the Secretary with a certification of the recoupment period for fees, closing costs, and any expenses (other than taxes, amounts held in escrow, and fees paid under this chapter) that would be incurred by the borrower in the refinancing of the loan;
(2) all of the fees and incurred costs are scheduled to be recouped on or before the date that is 36 months after the date of loan issuance; and
(3) the recoupment is calculated through lower regular monthly payments (other than taxes, amounts held in escrow, and fees paid under this chapter) as a result of the refinanced loan.
**(b) Net Tangible Benefit Test.—** Except as provided in subsection (d) and notwithstanding [section 3703 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section3703&num=0&edition=prelim) or any other provision of law, a loan to a veteran for a purpose specified in [section 3710 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section3710&num=0&edition=prelim) that is refinanced may not be guaranteed or insured under this chapter unless—
(1) the issuer of the refinanced loan provides the borrower with a net tangible benefit test;
(2) in a case in which the original loan had a fix
Source: Supplied U.S. Code snapshot — release unconfirmed · 38 U.S.C. § 3709
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Federal law — U.S. Code and appendices · legal_authorities
Page 764
TITLE 12—BANKS AND BANKING
§ 1720
1 See References in Text note below.
are lawful investments’’ for ‘‘or obligations which are
lawful investments’’.
Subsec. (d). Pub. L. 88–560, § 704, repealed provisions
which prohibited the Association from purchasing par-
ticipations in its operations under this section.
1961—Subsec. (a). Pub. L. 87–70, § 603(d), designated ex-
isting provisions as par. (1) and added par. (2).
Subsec. (b). Pub. L. 87–70, § 603(e), inserted ‘‘or other
security holdings’’ after ‘‘mortgages’’.
1959—Subsec. (a). Pub. L. 86–372, § 302, substituted
‘‘home financing’’ for ‘‘advance planning of home con-
struction’’ after ‘‘sufficient to facilitate’’.
Subsec. (b). Pub. L. 86–372, § 305(a), substituted ‘‘and
obligations of the United States or guaranteed thereby,
or obligations which are lawful investments for fidu-
ciary, trust, or public funds’’ for ‘‘and bonds or other
obligations of, or bonds or other obligations guaranteed
as to principal and interest by, the United States’’.
1957—Subsec.
(c).
Pub.
L.
85–104
substituted
‘‘$2,250,000,000’’ for ‘‘$1,350,000,000’’.
Pub.
L.
85–10
substituted
‘‘$1,350,000,000’’
for
‘‘$500,000,000 plus an amount equal to the total of such
reductions in the maximum dollar amount prescribed
by section 1721(c) of this title as have theretofore been
effected pursuant to that section: Provided, That such
aggregate principal amount under this subsection shall
in no event exceed $1,000,000,000’’.
1956—Subsec. (a). Act Aug. 7, 1956, §§ 203, 204(a), sub-
stituted in second sentence ‘‘within the range of mar-
ket prices’’ for ‘‘at the market prices’’; and inserted
sentence that advance commitments to purchase mort-
gages in secondary market operations shall be issued
only at prices which are
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1721
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