Browse Arkansas Code titles and sections
12 U.S.C. § 1716 — Repealed. Pub. L. 85–364, § 6, Apr. 1, 1958, 72 Stat. 77
Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section, Pub. L. 85–104, title VI, § 605, July 12, 1957, 71 Stat. 305, authorized Federal Housing Commissioner and Administrator of Veterans’ Affairs to fix reasonable limits on charges, fees, and discounts imposed upon builders, sellers, or purchasers.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1716
Stored review status: release_metadata_unconfirmed. A text match is a research starting point; applicability is not established.
Original supplied file — preserved unchanged
Download original Markdown file
File SHA-256: 89ea61aff025be39a8835bae3d216b2821700dfd1d3ab6f6ec3eba96532c008b. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. Search shows only the selected federal record. Historical editions and unverified snapshots are not a statement of current law.
Authority boundary: historical or unconfirmed source not current law verified.
Open the recorded source website ↗
Record provenance
Stable record: federal_law:legal_authorities:record_usc_ce0ce559883d1eeabee3258d
Source file: Laws/federal/codes/united-states-code/title-12/section-1716-repealed-pub-l-85364-6-apr-1-1958-72-stat-77--17dc68064d.md
Pages: Not recorded – Not recorded
Passage SHA-256: 43f7b38d9c38a172ae84ff42ae575c6c2447fba868cce2e5a25dc340cfcc4a2b
Source location: Title 12, Chapter 13, § 1716; chapter-013-national-housing.md
Stored source content
### Statutory Notes
Section, Pub. L. 85–104, title VI, § 605, July 12, 1957, 71 Stat. 305, authorized Federal Housing Commissioner and Administrator of Veterans’ Affairs to fix reasonable limits on charges, fees, and discounts imposed upon builders, sellers, or purchasers.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
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
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Common stock; preferred stock; transferability of shares** The corporation shall have common stock, without par value, which shall be vested with all voting rights, each share being entitled to one vote with rights of cumulative voting at all elections of directors. The corporation may eliminate such rights of cumulative voting by a resolution adopted by its board of directors and approved by the holders of a majority of the shares of common stock voting in person or by proxy at the annual meeting, or other special meeting, at which such resolution is considered. The corporation may have preferred stock on such terms and conditions as the board of directors shall prescribe. The free transferability of the stock at all times to any person, firm, corporation, or other entity shall not be restricted except that, as to the corporation, it shall be transferable only on the books of the corporation. The corporation may issue shares of common stock in return for appropriate payments into capital or capital and surplus.
**(b) Fees and charges; annual transfer of earnings to general surplus account**
(1) The corporation may impose charges or fees, which may be regarded as elements of pricing, with the objective that all costs and expenses of the operations of the corporation should be within its income derived from such operations and that such operations should be fully self-supporting.
(2) All earnings from the operations of the corporation shall annually be transferred to the general surplus account of the corporation. At any time, funds of the general surplus account may, in the discretion of the board of directors, be transferred to reserves.
**(c) Capital distributions from general surplus account; minimum capitalization levels**
(1) Except as provided in paragr
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1747a
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Purchase and sale of mortgages; secondary market operations; advance of funds or origination of loans; settlement or extinguishment of borrower’s rights**
(1) To carry out the purposes set forth in paragraph (a) 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 operations of the corporation under this section shall be confined, so far as practicable, to mortgages which are deemed by the corporation to be of such quality, type, and class as to meet, generally, the purchase standards imposed by private institutional mortgage investors. In the interest of assuring sound operation, the prices to be paid by the corporation for mortgages purchased in its secondary market operations under this section, should be established, from time to time, within the range of market prices for the particular class of mortgages involved, as determined by the corporation. The volume of the corporation’s purchases and sales, and the establishment of the purchase prices, sale prices, and charges or fees, in its secondary market operations under this section, should be determined by the corporation from time to time, and such determinations should be consistent with the objectives that such purchases and sales should be effected only at such prices and on such terms as will reasonably prevent excessive use of the corporation’s facilities, and that the operations of the corporation under this section should be within its income derived from such operations and that such operations should be fully self-supporting. Nothing in this subchapter shall prohibit the corporation from purchasing, and making commitments to purchase, any mortgage with respect to which the Se
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1747b
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
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
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Government National Mortgage Association** All the powers and duties of the Government National Mortgage Association shall be vested in the Secretary of Housing and Urban Development and the Association shall be administered under the direction of the Secretary. Within the limitations of law, the Secretary shall determine the general policies which shall govern the operations of the Association, and shall have power to adopt, amend, and repeal bylaws governing the performance of the powers and duties granted to or imposed upon it by law. There is hereby established in the Department of Housing and Urban Development the position of President, Government National Mortgage Association, who shall be appointed by the President, by and with the advice and consent of the Senate. The Secretary shall select and effect the appointment of qualified persons to fill the offices of vice president, and such other offices as may be provided for in the bylaws. Persons appointed under the preceding sentence shall perform such executive functions, powers, and duties as may be prescribed by the bylaws or by the Secretary, and such persons shall be executive officers of the Association and shall discharge all such executive functions, powers, and duties.
**(b) Federal National Mortgage Association** The Federal National Mortgage Association shall have a board of directors, which shall consist of 13 persons, or such other number that the Director determines appropriate, who shall be elected annually by the common stockholders. Except to the extent that action under [section 4636a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4636a&num=0&edition=prelim) temporarily results in a lesser number, the board shall at all times have as members at l
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1747f
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
For purposes of this chapter:
(1) **Affiliate** — Except as provided by the Director, the term “affiliate” means any entity that controls, is controlled by, or is under common control with, an enterprise.
(2) **Agency** — The term “Agency” means the Federal Housing Finance Agency established under [section 4511 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4511&num=0&edition=prelim).
(3) **Authorizing statutes** — The term “authorizing statutes” means—
(A) the Federal National Mortgage Association Charter Act;
(B) the Federal Home Loan Mortgage Corporation Act; and
(C) the Federal Home Loan Bank Act.
(4) **Board** — The term “Board” means the Federal Housing Finance Oversight Board established under [section 4513a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4513a&num=0&edition=prelim).
(5) **Capital distribution**
(A) *In general* — The term “capital distribution” means—
(i) any dividend or other distribution in cash or in kind made with respect to any shares of, or other ownership interest in, an enterprise, except a dividend consisting only of shares of the enterprise;
(ii) any payment made by an enterprise to repurchase, redeem, retire, or otherwise acquire any of its shares, including any extension of credit made to finance an acquisition by the enterprise of such shares; and
(iii) any transaction that the Director determines by regulation to be, in substance, the distribution of capital.
(B) *Exception* — Any payment made by an enterprise to repurchase its shares for the purpose of fulfilling an obligation of the enterprise under an employee stock ownership plan that is qualified under [section 401 of title 26](https://uscode.house.gov/view
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4512
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment** There is established the Federal Housing Finance Agency, which shall be an independent agency of the Federal Government.
**(b) General supervisory and regulatory authority**
(1) **In general** — Each regulated entity shall, to the extent provided in this chapter, be subject to the supervision and regulation of the Agency.
(2) **Authority over Fannie Mae, Freddie Mac, the Federal Home Loan Banks, and the Office of Finance** — The Director shall have general regulatory authority over each regulated entity and the Office of Finance, and shall exercise such general regulatory authority, including such duties and authorities set forth under [section 4513 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4513&num=0&edition=prelim), to ensure that the purposes of this Act, the authorizing statutes, and any other applicable law are carried out.
**(c) Savings provision** The authority of the Director to take actions under subchapters II and III shall not in any way limit the general supervisory and regulatory authority granted to the Director under subsection (b).
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4513a
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) In general**
(1) **Authority** — The Director shall monitor and enforce compliance with the housing goals established under this subpart and with the duty under [section 4565(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4565/a&num=0&edition=prelim) of each enterprise with respect to underserved markets, as provided in this section.
(2) **Guidelines** — The Director shall establish guidelines to measure the extent of compliance with the housing goals, which, except as provided in paragraph (5), may assign full credit, partial credit, or no credit toward achievement of the housing goals to different categories of mortgage purchase activities of the enterprises, based on such criteria as the Director deems appropriate.
(3) **Extent of compliance** — In determining compliance with the housing goals established under this subpart, the Director—
(A) shall consider any single mortgage purchased by an enterprise as contributing to the achievement of each housing goal for which such mortgage purchase qualifies; and
(B) may take into consideration the number of housing units financed by any mortgage on housing purchased by an enterprise.
(4) **Enforcement of duty to provide mortgage credit to underserved markets** — The duty under [section 4565(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4565/a&num=0&edition=prelim) of each enterprise to serve underserved markets (as determined in accordance with [section 4565(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4565/c&num=0&edition=prelim)) shall be enforceable under this section to the same extent and under the same provisions that the housing goals established under this su
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4569
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
Before the expiration of the period ending 18 months after the appointment of the Director under [section 4512 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4512&num=0&edition=prelim), any rules and regulations promulgated before October 28, 1992, by the Secretary pursuant to the Federal National Mortgage Association Charter Act [[12 U.S.C. 1716](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1716&num=0&edition=prelim) et seq.] or the Federal Home Loan Mortgage Corporation Act [[12 U.S.C. 1451](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1451&num=0&edition=prelim) et seq.] shall remain in effect unless modified, terminated, superseded, or revoked by operation of law or in accordance with law. Such rules and regulations shall terminate, effective upon the expiration of such period.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4613
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Appointment of the Agency as conservator or receiver**
(1) **In general** — Notwithstanding any other provision of Federal or State law, the Director may appoint the Agency as conservator or receiver for a regulated entity in the manner provided under paragraph (2) or (4). All references to the conservator or receiver under this section are references to the Agency acting as conservator or receiver.
(2) **Discretionary appointment** — The Agency may, at the discretion of the Director, be appointed conservator or receiver for the purpose of reorganizing, rehabilitating, or winding up the affairs of a regulated entity.
(3) **Grounds for discretionary appointment of conservator or receiver** — The grounds for appointing conservator or receiver for any regulated entity under paragraph (2) are as follows:
(A) *Assets insufficient for obligations* — The assets of the regulated entity are less than the obligations of the regulated entity to its creditors and others.
(B) *Substantial dissipation* — Substantial dissipation of assets or earnings due to—
(i) any violation of any provision of Federal or State law; or
(ii) any unsafe or unsound practice.
(C) *Unsafe or unsound condition* — An unsafe or unsound condition to transact business.
(D) *Cease and desist orders* — Any willful violation of a cease and desist order that has become final.
(E) *Concealment* — Any concealment of the books, papers, records, or assets of the regulated entity, or any refusal to submit the books, papers, records, or affairs of the regulated entity, for inspection to any examiner or to any lawful agent of the Director.
(F) *Inability to meet obligations* — The regulated entity is likely to be unable to pay its obligations or meet the demands of its creditors in th
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4622
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.