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12 U.S.C. § 1702 — Short title
Federal law — U.S. Code and appendices · legal_authorities
This chapter may be cited as the “National Housing Act.”
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Stable record: federal_law:legal_authorities:record_usc_c5902b175f6f776765b69c3f
Source file: Laws/federal/codes/united-states-code/title-12/section-1702-short-title--3b5dce6976.md
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Source location: Title 12, Chapter 13, § 1702; chapter-013-national-housing.md
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This chapter may be cited as the “National Housing Act.”
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Federal law — U.S. Code and appendices · legal_authorities
For purposes of this subchapter:
(1) The term “applicant” means the following entities that may represent the tenants of the project:
(A) A public housing agency.
(B) A resident management corporation, established in accordance with requirements of the Secretary under [section 1437r of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1437r&num=0&edition=prelim).
(C) A resident council.
(D) A cooperative association.
(E) A public or private nonprofit organization.
(F) A public body, including an agency or instrumentality thereof.
(2) The term “eligible family” means—
(A) a family or individual who is a tenant in the public housing project on the date the Secretary approves an implementation grant;
(B) a low-income family; or
(C) a family or individual who is assisted under a housing program administered by the Secretary or the Secretary of Agriculture (not including any non-low income families assisted under any mortgage insurance program administered by either Secretary).
(3) The term “homeownership program” means a program for homeownership meeting the requirements under this subchapter.
(4) The term “recipient” means an applicant approved to receive a grant under this subchapter or such other entity specified in the approved application that will assume the obligations of the recipient under this subchapter.
(5) The term “resident council” means any incorporated nonprofit organization or association that—
(A) is representative of the tenants of the housing;
(B) adopts written procedures providing for the election of officers on a regular basis; and
(C) has a democratically elected governing board, elected by the tenants of the housing.
Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 1411b
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** An individual convicted by any Federal, State, or local court of competent jurisdiction of—
(1) inciting a riot or civil disorder;
(2) organizing, promoting, encouraging, or participating in a riot or civil disorder;
(3) aiding or abetting any person in committing any offense specified in clause (1) or (2); or
(4) any offense determined by the head of the employing agency to have been committed in furtherance of, or while participating in, a riot or civil disorder;
shall, if the offense for which he is convicted is a felony, be ineligible to accept or hold any position in the Government of the United States or in the government of the District of Columbia for the five years immediately following the date upon which his conviction becomes final. Any such individual holding a position in the Government of the United States or the government of the District of Columbia on the date his conviction becomes final shall be removed from such position.
**(b)** For the purposes of this section, “felony” means any offense for which imprisonment is authorized for a term exceeding one year.
Source: Supplied U.S. Code snapshot — release unconfirmed · 5 U.S.C. § 7313
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section, act Aug. 2, 1954, ch. 649, title VIII, § 815, 68 Stat. 647, required submission of specifications by applicants prior to award of any contract for construction of a project and submission of data with respect to acquisition of land prior to authorization to purchase such land.
Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 1437f
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Federal law — U.S. Code and appendices · legal_authorities
Nothing in this subtitle shall be interpreted as superseding the provisions of [section 635a–3 of title 12](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section635a–3&num=0&edition=prelim), except that in the event of an assessment of duty based on a derogation under [section 1671e of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title19-section1671e&num=0&edition=prelim) or action under [section 1671b(d)(1)(B) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title19-section1671b/d/1/B&num=0&edition=prelim), the Secretary of the Treasury shall not authorize the Bank to provide guarantees, insurance and credits to competing United States sellers pursuant to [section 635a–3 of title 12](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section635a–3&num=0&edition=prelim).
Source: Supplied U.S. Code snapshot — release unconfirmed · 19 U.S.C. § 1671g
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Assistance to NRC** Notwithstanding any other provision of law, of any amounts made available for any fiscal year pursuant to [section 1701x(a)(4)(F) of title 12](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1701x/a/4/F&num=0&edition=prelim) (as added by section 1444),11 See References in Text note below. 10 percent shall be used only for assistance to the Neighborhood Reinvestment Corporation for activities, in consultation with servicers of residential mortgage loans, to provide notice to borrowers under such loans who are delinquent with respect to payments due under such loans that makes such borrowers aware of the dangers of fraudulent activities associated with foreclosure.
**(b) Notice** The Neighborhood Reinvestment Corporation, in consultation with servicers of residential mortgage loans, shall use the amounts provided pursuant to subsection (a) to carry out activities to inform borrowers under residential mortgage loans—
(1) that the foreclosure process is complex and can be confusing;
(2) that the borrower may be approached during the foreclosure process by persons regarding saving their home and they should use caution in any such dealings;
(3) that there are Federal Government and nonprofit agencies that may provide information about the foreclosure process, including the Department of Housing and Urban Development;
(4) that they should contact their lender immediately, contact the Department of Housing and Urban Development to find a housing counseling agency certified by the Department to assist in avoiding foreclosure, or visit the Department’s website regarding tips for avoiding foreclosure; and
(5) of the telephone number of the loan servicer or successor, the telephone number of the Department of Housing and
Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 8108
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Federal law — U.S. Code and appendices · legal_authorities
Moneys in the Fund not needed for the current operations of the Department of Housing and Urban Development related to insurance under [section 1709 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1709&num=0&edition=prelim) shall be deposited with the Treasurer of the United States to the credit of the Fund, or invested in bonds or other obligations of, or in bonds or other obligations guaranteed as to principal and interest by, the United States or any agency of the United States: Provided, That such moneys shall to the maximum extent feasible be invested in such bonds or other obligations the proceeds of which will be used to directly support the residential mortgage market. The Secretary may, with the approval of the Secretary of the Treasury, purchase in the open market debentures issued under the provisions of [section 1710 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1710&num=0&edition=prelim). Such purchases shall be made at a price which will provide an investment yield of not less than the yield obtainable from other investments authorized by this section. Debentures so purchased shall be canceled and not reissued, and the several group accounts to which such debentures have been charged shall be charged with the amounts used in making such purchases.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1717
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Limitation of quantity available for export** For each of the calendar years 1969 through 1973, inclusive, not more than 350 million board feet, in the aggregate, of unprocessed timber may be sold for export from the United States from Federal lands located west of the 100th meridian.
**(b) Surplus quantities and species available for export; public hearing; administrative finding** After public hearing and a finding by the appropriate Secretary of the department administering Federal lands referred to in subsection (a) that specific quantities and species of unprocessed timber are surplus to the needs of domestic users and processors, such quantities and species may be designated by the said Secretary as available for export from the United States in addition to that quantity stated in subsection (a).
**(c) Rules and regulations; prevention of substitution of Federal for non-Federal timber** The Secretaries of the departments administering lands referred to in subsection (a) may issue rules and regulations to carry out the purposes of this section, including the prevention of substitution of timber restricted from export by this section for exported non-Federal timber.
**(d) Limitations inapplicable to sales of prescribed minimum value** In issuing rules and regulations pursuant to subsection (c), the appropriate Secretaries may include therein provisions authorizing the said Secretaries, in their discretion, to exclude from the limitations imposed by this section sales having an appraised value of less than $2,000.
Source: Supplied U.S. Code snapshot — release unconfirmed · 16 U.S.C. § 617
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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
**(a) Authority to purchase, hold, and invest in securities; securities considered as obligations of United States**
(1) Any person, trust, corporation, partnership, association, business trust, or business entity created pursuant to or existing under the laws of the United States or any State shall be authorized to purchase, hold, and invest in securities that are—
(A) offered and sold pursuant to section 77d(5) 11 See References in Text note below. of this title,
(B) mortgage related securities (as that term is defined in [section 78c(a)(41) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section78c/a/41&num=0&edition=prelim)),
(C) small business related securities (as defined in [section 78c(a)(53) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section78c/a/53&num=0&edition=prelim)), or
(D) securities issued or guaranteed by the Federal Home Loan Mortgage Corporation or the Federal National Mortgage Association,
to the same extent that such person, trust, corporation, partnership, association, business trust, or business entity is authorized under any applicable law to purchase, hold or invest in obligations issued by or guaranteed as to principal and interest by the United States or any agency or instrumentality thereof.
(2) Where State law limits the purchase, holding, or investment in obligations issued by the United States by such a person, trust, corporation, partnership, association, business trust, or business entity, such securities that are—
(A) offered and sold pursuant to section 77d(5) 1 of this title,
(B) mortgage related securities (as that term is defined in [section 78c(a)(41) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title1
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 77r–1
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Federal law — U.S. Code and appendices · legal_authorities
The Congress affirms the national goal that every American family be able to afford a decent home in a suitable environment.
Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 12701
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