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12 U.S.C. § 1715t — Legal assistance for foreclosure-related issues

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

12 U.S.C. § 1715t — Legal assistance for foreclosure-related issues

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Stable record: federal_law:legal_authorities:record_usc_b7073caa94fdd6d545332b64
Source file: Laws/federal/codes/united-states-code/title-12/section-1715t-legal-assistance-for-foreclosure-related-issues--a54804d6ea.md
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Source location: Title 12, Chapter 13, § 1715t; chapter-013-national-housing.md

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**(a) Establishment** The Secretary of Housing and Urban Development (hereafter in this section referred to as the “Secretary”) shall establish a program for making grants for providing a full range of foreclosure legal assistance to low- and moderate-income homeowners and tenants related to home ownership preservation, home foreclosure prevention, and tenancy associated with home foreclosure. **(b) Competitive allocation** The Secretary shall allocate amounts made available for grants under this section to State and local legal organizations on the basis of a competitive process. For purposes of this subsection “State and local legal organizations” are those State and local organizations whose primary business or mission is to provide legal assistance. **(c) Priority to certain areas** In allocating amounts in accordance with subsection (b), the Secretary shall give priority consideration to State and local legal organizations that are operating in the 125 metropolitan statistical areas (as that term is defined by the Director of the Office of Management and Budget) with the highest home foreclosure rates. **(d) Legal assistance** (1) **In general** — Any State or local legal organization that receives financial assistance pursuant to this section may use such amounts only to assist— (A) homeowners of owner-occupied homes with mortgages in default, in danger of default, or subject to or at risk of foreclosure; and (B) tenants at risk of or subject to eviction as a result of foreclosure of the property in which such tenant resides. (2) **Commence use within 90 days** — Any State or local legal organization that receives financial assistance pursuant to this section shall begin using any financial assistance received under this section within 90 days after receipt of the assistance. (3) **Prohibition on class actions** — No funds provided to a State or local legal organization under this section may be used to support any class action litigation. (4) **Limitation on legal assistance** — Legal assistance funded with amounts provided under this section shall be limited to mortgage-related default, eviction, or foreclosure proceedings, without regard to whether such foreclosure is judicial or nonjudicial. (5) **Effective date** — Notwithstanding any other provision of this Act, this subsection shall take effect on July 21, 2010. **(e) Limitation on distribution of assistance** (1) **In general** — None of the amounts made available under this section shall be distributed to— (A) any organization which has been convicted for a violation under Federal law relating to an election for Federal office; or (B) any organization which employs applicable individuals. (2) **Definition of applicable individuals** — In this subsection, the term “applicable individual” means an individual who— (A) is— (i) employed by the organization in a permanent or temporary capacity; (ii) contracted or retained by the organization; or (iii) acting on behalf of, or with the express or apparent authority of, the organization; and (B) has been convicted for a violation under Federal law relating to an election for Federal office. **(f) Authorization of appropriations** There are authorized to be appropriated to the Secretary $35,000,000 for each of fiscal years 2011 through 2012 for grants under this section.

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

12 U.S.C. § 5301 — Regulations

**(a) In general** The Secretary is authorized to promulgate regulations to implement and administer the grant programs and undertakings authorized by this subchapter. **(b) Regulatory authority** Regulations prescribed under this section may contain such classifications, differentiations, or other provisions, and may provide for such adjustments and exceptions for any class of grant programs, undertakings, or eligible entities, as, in the judgment of the Secretary, are necessary or proper to effectuate the purposes of this subchapter, to prevent circumvention or evasion of this subchapter, or to facilitate compliance with this subchapter.

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5301

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

15 U.S.C. § 1601 — Congressional findings and declaration of purpose

**(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.

Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 1601

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

12 U.S.C. § 1716–1, 1716a — Payment of insurance

**(a) In general** (1) **Authorized claims procedures** — The Secretary may, in accordance with this subsection and terms and conditions prescribed by the Secretary, pay insurance benefits to a mortgagee for any mortgage insured under [section 1709 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1709&num=0&edition=prelim) through any of the following methods: (A) *Assignment of mortgage* — The Secretary may pay insurance benefits whenever a mortgage has been in a monetary default for not less than 3 full monthly installments or whenever the mortgagee is entitled to foreclosure for a nonmonetary default. Insurance benefits shall be paid pursuant to this subparagraph only upon the assignment, transfer, and delivery to the Secretary of— (i) all rights and interests arising under the mortgage; (ii) all claims of the mortgagee against the mortgagor or others arising out of the mortgage transaction; (iii) title evidence satisfactory to the Secretary; and (iv) such records relating to the mortgage transaction as the Secretary may require. (B) *Conveyance of title to property* — The Secretary may pay insurance benefits if the mortgagee has acquired title to the mortgaged property through foreclosure or has otherwise acquired such property from the mortgagor after a default upon— (i) the prompt conveyance to the Secretary of title to the property which meets the standards of the Secretary in force at the time the mortgage was insured and which is evidenced in the manner provided by such standards; and (ii) the assignment to the Secretary of all claims of the mortgagee against the mortgagor or others, arising out of mortgage transaction or foreclosure proceedings, except such claims as may have been r

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1716–1, 1716a

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

12 U.S.C. § 1724 to 1730d — Housing for moderate income and displaced families

(a) Purpose

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1724 to 1730d

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

12 U.S.C. § 1735d — Mortgage insurance for condominiums

**(a) Purpose** The purpose of this section is to provide an additional means of increasing the supply of privately owned dwelling units where, under the laws of the State in which the property is located, real property title and ownership are established with respect to a one-family unit which is part of a multifamily project. **(b) Definitions** The terms “mortgage”, “mortgagee”, “mortgagor”, “maturity date”, and “State” shall have the meanings respectively set forth in [section 1707 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1707&num=0&edition=prelim), except that the term “mortgage” for the purposes of subsection (c) may include a first mortgage given to secure the unpaid purchase price of a fee interest in, or a long-term leasehold interest in, a one-family unit in a multifamily project, including a project in which the dwelling units are attached, semi-attached, or detached, and an undivided interest in the common areas and facilities which serve the project where the mortgage is determined by the Secretary to be eligible for insurance under this section. The term “common areas and facilities” as used in this section shall be deemed to include the land and such commercial, community, and other facilities as are approved by the Secretary. **(c) Authorization; eligibility for insurance; conditions; limits** The Secretary is authorized, in his discretion and under such terms and conditions as he may prescribe (including the minimum number of family units in the project which shall be offered for sale and provisions for the protection of the consumer and the public interest), to insure any mortgage covering a one-family unit in a multifamily project and an undivided interest in the common areas and facilities which ser

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1735d

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

12 U.S.C. § 1735f–19 — Limitation on prepayment of mortgages on multifamily rental housing

**(a) Acceptance of offer to prepay; qualifications** During any period in which an owner of a multifamily rental housing project is required to obtain the approval of the Secretary for prepayment of the mortgage, the Secretary shall not accept an offer to prepay the mortgage on such project or permit a termination of an insurance contract pursuant to [section 1715t of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1715t&num=0&edition=prelim) unless— (1) the Secretary has determined that such project is no longer meeting a need for rental housing for lower income families in the area; (2) the Secretary (A) has determined that the tenants have been notified of the owner’s request for approval of a prepayment; (B) has provided the tenants with an opportunity to comment on the owner’s request; and (C) has taken such comments into consideration; and (3) the Secretary has ensured that there is a plan for providing relocation assistance for adequate, comparable housing for any lower income tenant who will be displaced as a result of the prepayment and withdrawal of the project from the program. **(b) Approval prior to foreclosure** A mortgagee may foreclose the mortgage on, or acquire by deed in lieu of foreclosure, any eligible low-income housing project (as such term is defined in [section 4119 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4119&num=0&edition=prelim)) only if the mortgagee also conveys title to the project to the Secretary in connection with a claim for insurance benefits. **(c) “Lower income families” defined** For purposes of this section, the term “lower income families” has the meaning given such term in [section 1437a(b)(2) of title 42](https://uscode.house.gov/vi

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1735f–19

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

12 U.S.C. § 4101 — General prepayment limitation

**(a) Prepayment and termination** An owner of eligible low-income housing may prepay, and a mortgagee may accept prepayment of, a mortgage on such housing only in accordance with a plan of action approved by the Secretary under this subchapter or in accordance with [section 4114 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4114&num=0&edition=prelim). An insurance contract with respect to eligible low-income housing may be terminated pursuant to [section 1715t of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1715t&num=0&edition=prelim) only in accordance with a plan of action approved by the Secretary under this subchapter or in accordance with [section 4114 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4114&num=0&edition=prelim). **(b) Foreclosure** A mortgagee may foreclose the mortgage on, or acquire by deed in lieu of foreclosure, any eligible low-income housing project only if the mortgagee also conveys title to the project to the Secretary in connection with a claim for insurance benefits. **(c) Effect of unauthorized prepayment** Any prepayment of a mortgage on eligible low-income housing or termination of the mortgage insurance on such housing not in compliance with the provisions of this subchapter shall be null and void and any low-income affordability restrictions on the housing shall continue to apply to the housing.

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4101

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

12 U.S.C. § 4122 — Preemption of State and local laws

**(a) In general** No State or political subdivision of a State may establish, continue in effect, or enforce any law or regulation that— (1) restricts or inhibits the prepayment of any mortgage described in [section 4119(1) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4119/1&num=0&edition=prelim) (or the voluntary termination of any insurance contract pursuant to [section 1715t of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1715t&num=0&edition=prelim)) on eligible low income housing; (2) restricts or inhibits an owner of such housing from receiving the authorized annual return provided under [section 4104 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4104&num=0&edition=prelim); (3) is inconsistent with any provision of this subchapter, including any law, regulation, or other restriction that limits or impairs the ability of any owner of eligible low income housing to receive incentives authorized under this subchapter (including authorization to increase rental rates, transfer the housing, obtain secondary financing, or use the proceeds of any of such incentives); or (4) in its applicability to low-income housing is limited only to eligible low-income housing for which the owner has prepaid the mortgage or terminated the insurance contract. Any law, regulation, or restriction described under paragraph (1), (2), (3), or (4) shall be ineffective and any eligible low-income housing exempt from the law, regulation, or restriction, only to the extent that it violates the provisions of this subsection. **(b) Effect** This section shall not prevent the establishment, continuing in effect, or enforcement of any law or regulation of any Sta

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4122

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

42 U.S.C. § 8011 — Revised congregate housing services program

**(a) Findings and purposes** (1) **Findings** — The Congress finds that— (A) the effective provision of congregate services may require the redesign of units and buildings to meet the special physical needs of the frail elderly persons and the creation of congregate space to accommodate services that enhance independent living; (B) congregate housing, coordinated with the delivery of supportive services, offers an innovative, proven, and cost-effective means of enabling frail older persons and persons with disabilities to maintain their dignity and independence; (C) independent living with assistance is a preferable housing alternative to institutionalization for many frail older persons and persons with disabilities; (D) 365,000 persons in federally assisted housing experience some form of frailty, and the number is expected to increase as the general population ages; (E) an estimated 20 to 30 percent of older adults living in federally assisted housing experience some form of frailty; (F) a large and growing number of frail elderly residents face premature or unnecessary institutionalization because of the absence of or deficiencies in the availability, adequacy, coordination, or delivery of supportive services; (G) the support service needs of frail residents of assisted housing are beyond the resources and experience that housing managers have for meeting such needs; (H) supportive services would promote the invaluable option of independent living for nonelderly persons with disabilities in federally assisted housing; (I) approximately 25 percent of congregate housing services program sites provide congregate services to young individuals with disabilities; (J) to the extent that institutionalized older adults do not need the full cos

Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 8011

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

12 U.S.C. § 1715t — Voluntary termination of insurance

Page 637 TITLE 12—BANKS AND BANKING § 1715u 1 So in original. 1 So in original. Probably should be followed by a comma. 2 So in original. Probably should be ‘‘section 1710(a)(1)(A) of this title or subsection (c)),’’. ‘‘(C) establishing time deadlines or target dead- lines for required approvals; ‘‘(D) modifying division of approval authority be- tween field and national offices; ‘‘(E) improving outreach to project sponsors re- garding information that is required to be sub- mitted for such approvals; ‘‘(F) requesting additional funding for increasing staff, if necessary; and ‘‘(G) any other actions which would expedite ap- provals. Any such changes shall be made in a manner that provides for full compliance with any existing re- quirements under law or regulation that are designed to protect families receiving public and assisted housing assistance, including income targeting, rent, and fair housing provisions, and shall also comply with requirements regarding environmental review and protection and wages paid to laborers. ‘‘(b) CONSULTATION.—The Secretary shall consult with the Commissioner of the Internal Revenue Service and take such actions as are appropriate in conjunction with such consultation to simplify the coordination of rules, regulations, forms, and approval requirements for multifamily housing projects projects [sic] for which assistance is provided by such Department in conjunction with any low-income housing tax credits under section 42 of the Internal Revenue Code of 1986 [26 U.S.C. 42] or tax-exempt housing bonds. ‘‘(c) RECOMMENDATIONS.—In implementing the changes required under this section, the Secretary shall solicit recommendations regarding such changes from project owners and sponsors, investors and stake- holde

Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1715t

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