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12 U.S.C. § 1701g–5a — Insurance of mortgages on sales of Government housing; limits and conditions; Greenbelt towns; State housing
Federal law — U.S. Code and appendices · legal_authorities
Notwithstanding any of the provisions of this subchapter, the Secretary is authorized, upon application by the mortgagee, to insure or to make commitments to insure under section 1738 or [section 1743 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1743&num=0&edition=prelim) any mortgage executed in connection with the sale by the Government, or any agency or official thereof, of any housing acquired or constructed under Public Law 849, Seventy-sixth Congress, as amended; Public Law 781, Seventy-sixth Congress, as amended; or Public Laws 9, 73, or 353, Seventy-seventh Congress, as amended (including any property acquired, held or constructed in connection with such housing or to serve the inhabitants thereof), without regard to—
(1) any limit as to the time when any mortgage may be insured under this subchapter;
(2) any limit as to the aggregate amount of principal obligations of all mortgages insured under this subchapter, but the aggregate amount of principal obligations of all mortgages insured pursuant to this section shall not exceed $750,000,000;
(3) any requirement that the obligation be approved for mortgage insurance prior to the beginning of construction or that the construction be new construction;
(4) any of the provisions of subsections (b)(2) or (b)(5) of [section 1738 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1738&num=0&edition=prelim) or paragraphs (B) and (C) of the first sentence of [section 1743(b)(3) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1743/b/3&num=0&edition=prelim):
The Secretary is further authorized to insure or to make commitments to insure in accordance with the provisions of this section any mort
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1701g–5a
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Source file: Laws/federal/codes/united-states-code/title-12/section-1701g5a-insurance-of-mortgages-on-sales-of-government-housing-limits-and-conditi--99b5768b28.md
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Source location: Title 12, Chapter 13, § 1701g–5a; chapter-013-national-housing.md
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Notwithstanding any of the provisions of this subchapter, the Secretary is authorized, upon application by the mortgagee, to insure or to make commitments to insure under section 1738 or [section 1743 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1743&num=0&edition=prelim) any mortgage executed in connection with the sale by the Government, or any agency or official thereof, of any housing acquired or constructed under Public Law 849, Seventy-sixth Congress, as amended; Public Law 781, Seventy-sixth Congress, as amended; or Public Laws 9, 73, or 353, Seventy-seventh Congress, as amended (including any property acquired, held or constructed in connection with such housing or to serve the inhabitants thereof), without regard to—
(1) any limit as to the time when any mortgage may be insured under this subchapter;
(2) any limit as to the aggregate amount of principal obligations of all mortgages insured under this subchapter, but the aggregate amount of principal obligations of all mortgages insured pursuant to this section shall not exceed $750,000,000;
(3) any requirement that the obligation be approved for mortgage insurance prior to the beginning of construction or that the construction be new construction;
(4) any of the provisions of subsections (b)(2) or (b)(5) of [section 1738 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1738&num=0&edition=prelim) or paragraphs (B) and (C) of the first sentence of [section 1743(b)(3) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1743/b/3&num=0&edition=prelim):
The Secretary is further authorized to insure or to make commitments to insure in accordance with the provisions of this section any mortgage executed in connection with the sale by the Secretary, or by any public housing agency with the approval of the Secretary, of any housing (including any property acquired, held, or constructed in connection with such housing or to serve the inhabitants thereof) owned or financially assisted pursuant to the provisions of Public Law 671, Seventy-sixth Congress.
The Secretary is further authorized to insure or to make commitments to insure in accordance with the provisions of this section any mortgage executed in connection with the sale by the Government, or any agency or official thereof, of any of the so-called Greenbelt towns, or parts thereof, including projects, or parts thereof, known as Greenhills, Ohio; Greenbelt, Maryland; and Greendale, Wisconsin, developed under the Emergency Relief Appropriation Act of 1935, or of any of the village properties under the jurisdiction of the Tennessee Valley Authority, and any mortgage executed in connection with the first resale, within two years from the date of its acquisition from the Government, of any portion of a project or property of the character described in this section.
The Secretary is further authorized to insure or to make commitments to insure under [section 1743 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1743&num=0&edition=prelim) in accordance with the provisions of this section any mortgage executed in connection with the sale by a State or municipality, or an agency, instrumentality, or body politic of either, of any permanent housing (including any property acquired, held, or constructed in connection therewith or to serve the inhabitants thereof), constructed by or on behalf of such State, municipality, agency, instrumentality or body politic, for the occupancy of veterans of World War II, their families, and others: Provided, That the principal obligation of any such mortgage does not exceed either 85 per centum of the appraised value of the mortgage property as determined by the Secretary or $8,100 per family unit for such part of such property as may be attributable to dwelling use.
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Federal law — U.S. Code and appendices · legal_authorities
In connection with the national defense program, the Departments of the Navy, Army, and Air Force and the Secretary of Housing and Urban Development are authorized to cooperate in making necessary housing available for persons engaged in national defense activities, as provided in this subchapter. “Persons engaged in national defense activities” (as that term is used in this subchapter) shall include (i) enlisted men with families, who are in the naval and military service and officers of the Army, Air Force, and Marine Corps not above the grade of captain, and officers of the Navy and Coast Guard, not above the grade of lieutenant and employees of the Departments of the Navy, Army, and Air Force who are assigned to duty at naval or military reservations, posts, or bases, and (ii) workers with families, who are engaged or to be engaged in industries connected with and essential to the national defense program. No project shall be developed or assisted for the purposes of this subchapter except with the approval of the President and upon a determination by him that there is an acute shortage of housing in the locality involved which impedes the national defense program.
Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 1501
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Reporting requirements** Not later than 120 days after May 20, 2009, and quarterly thereafter, the Comptroller of the Currency and the Director of the Office of Thrift Supervision,11 So in original. The comma probably should not appear. shall jointly submit a report to the Committee on Banking, Housing, and Urban Affairs of the Senate,22 So in original. The word “and” probably should appear instead of the comma. the Committee on Financial Services of the House of Representatives on the volume of mortgage modifications reported to the Office of the Comptroller of the Currency and the Office of Thrift Supervision, under the mortgage metrics program of each such Office, during the previous quarter, including the following:
(1) A copy of the data collection instrument currently used by the Office of the Comptroller of the Currency and the Office of Thrift Supervision to collect data on loan modifications.
(2) The total number of mortgage modifications in each State that result in each of the following:
(A) Additions of delinquent payments and fees to loan balances.
(B) Interest rate reductions and freezes.
(C) Term extensions.
(D) Reductions of principal.
(E) Deferrals of principal.
(F) Combinations of modifications described in subparagraph (A), (B), (C), (D), or (E).
(3) The total number of mortgage modifications in each State for which the total monthly principal and interest payment resulted in the following:
(A) An increase.
(B) Remained the same.
(C) Decreased less than 10 percent.
(D) Decreased between 10 percent and 20 percent.
(E) Decreased 20 percent or more.
(4) The total number of loans in each State that have been modified and then entered into default, where the loan modification resulted in—
(A) higher monthly pay
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1743
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Authority** The Secretary may delegate, to one or more mortgagees approved by the Secretary under the direct endorsement program, the authority of the Secretary under this chapter to insure mortgages involving property upon which there is located a dwelling designed principally for occupancy by 1 to 4 families.
**(b) Considerations** In determining whether to delegate authority to a mortgagee under this section, the Secretary shall consider the experience and performance of the mortgagee compared to the default rate of all insured mortgages in comparable markets, and such other factors as the Secretary determines appropriate to minimize risk of loss to the insurance funds under this chapter.
**(c) Enforcement of insurance requirements**
(1) **In general** — If the Secretary determines that a mortgage insured by a mortgagee pursuant to delegation of authority under this section was not originated in accordance with the requirements established by the Secretary, and the Secretary pays an insurance claim with respect to the mortgage within a reasonable period specified by the Secretary, the Secretary may require the mortgagee approved under this section to indemnify the Secretary for the loss.
(2) **Fraud or misrepresentation** — If fraud or misrepresentation was involved in connection with the origination, the Secretary may require the mortgagee approved under this section to indemnify the Secretary for the loss regardless of when an insurance claim is paid.
**(d) Termination of mortgagee’s authority** If a mortgagee to which the Secretary has made a delegation under this section violates the requirements and procedures established by the Secretary or the Secretary determines that other good cause exists, the Secretary may cancel a delegation of authority under
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1738
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
#### Codification
Section, acts Oct. 14, 1940, ch. 862, title I, § 3, 54 Stat. 1126; Apr. 29, 1941, ch. 80, § 2, 55 Stat. 147; June 28, 1941, ch. 260, § 2, 55 Stat. 361; Jan. 21, 1942, ch. 14, § 3, 56 Stat. 12; Ex. Ord. No. 9070, § 1, eff. Feb 24, 1942, 7 F.R. 1529; Oct. 1, 1942, ch. 572, 56 Stat. 763; July 7, 1943, ch. 196, §§ 1, 2, 57 Stat. 387; July 1, 1944, ch. 374, 58 Stat. 720; Apr. 20, 1950, ch. 94, title II, § 204, 64 Stat. 73, which related to authorization of appropriations for the purpose of this subchapter, was omitted in view of the omission of [section 1521 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1521&num=0&edition=prelim).
#### Prior Additional Appropriations
Joint Res. Oct. 14, 1940, ch. 857, 54 Stat. 1115, $75,000,000.
Acts Mar. 1, 1941, ch. 9, 55 Stat. 14, $5,000,000.
May 24, 1941, ch. 132, 55 Stat. 199, $150,000,000.
Dec. 17, 1941, ch. 591, title III, 55 Stat. 818, $300,000,000.
Dec. 23, 1941, ch. 621, 55 Stat. 855, $300,000,000.
July 12, 1943, ch. 229, title I, 57 Stat. 540, $50,000,000.
Dec. 23, 1943, ch. 380, title I, 57 Stat. 618, $50,000,000.
Apr. 1, 1944, ch. 152, title I, 58 Stat. 153, $115,000,000.
June 28, 1944, ch. 304, title I, 58 Stat. 604.
Apr. 25, 1945, ch. 95 title I, 59 Stat. 82; July 5, 1945, ch. 271, title I, 59 Stat. 420, $84,373,000.
Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 1523
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
The new communities program was liquidated and its assets and liabilities transferred pursuant to sections 1701g–5a and 1701g–5b of Title 12, Banks and Banking.
Section 4511, Pub. L. 91–609, title VII, § 710, Dec. 31, 1970, 84 Stat. 1793, set out Congressional findings and purpose in setting up program for development of new communities.
Section 4512, Pub. L. 91–609, title VII, § 711, Dec. 31, 1970, 84 Stat. 1795; Pub. L. 93–383, title VIII, § 803(a)(1), (e), Aug. 22, 1974, 88 Stat. 725, defined terms used in this part.
Section 4513, Pub. L. 91–609, title VII, § 712, Dec. 31, 1970, 84 Stat. 1796, set out conditions under which a new community development program qualified for assistance under this part.
Section 4514, Pub. L. 91–609, title VII, § 713, Dec. 31, 1970, 84 Stat. 1796; Pub. L. 93–117, § 12, Oct. 2, 1973, 87 Stat. 423; Pub. L. 93–383, title VIII, § 803(a)(1), (c), Aug. 22, 1974, 88 Stat. 725, authorized guarantee of bonds, notes, debentures, and other obligations in connection with approved new community developments.
Section 4515, Pub. L. 91–609, title VII, § 714, Dec. 31, 1970, 84 Stat. 1797; Pub. L. 93–383, title VIII, § 803(a)(1), Aug. 22, 1974, 88 Stat. 725, authorized making of loans by Secretary in connection with new community developments.
Section 4516, Pub. L. 91–609, title VII, § 715, Dec. 31, 1970, 84 Stat. 1798; Pub. L. 93–383, title VIII, § 803(a)(1), Aug. 22, 1974, 88 Stat. 725, provided for public service grants and authorized appropriations therefor.
Section 4517, Pub. L. 91–609, title VII, § 716, Dec. 31, 1970, 84 Stat. 1798, set limitations on guarantees and loans.
Section 4518, Pub. L. 91–609, title VII, § 717, Dec. 31, 1970, 84 Stat. 1798; Pub. L. 97–35, title III, § 339F, Aug. 13, 1981, 95 Stat. 418, created a
Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 4525
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