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12 U.S.C. § 4584 — Cease and desist proceedings

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

12 U.S.C. § 4584 — Cease and desist proceedings

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Stable record: federal_law:legal_authorities:record_usc_e5bea1983f251394229122e1
Source file: Laws/federal/codes/united-states-code/title-12/section-4584-cease-and-desist-proceedings--2a5436e9bb.md
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Source location: Title 12, Chapter 46, § 4584; chapter-046-government-sponsored-enterprises.md

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**(a) Grounds for issuance** The Director may issue and serve a notice of charges under this section upon an enterprise if the Director determines that— (1) the enterprise has failed to submit a report under section 4547 11 See References in Text note below. of this title, following a notice of such failure, an opportunity for comment by the enterprise, and a final determination by the Director; (2) the enterprise has failed to submit the information required under subsection (m) or (n) of [section 1723a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1723a&num=0&edition=prelim), or subsection (e) or (f) of [section 1456 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1456&num=0&edition=prelim); (3) solely with respect to the housing goals established under sections 4562(a) and 4563(a)(1) of this title, the enterprise has failed to submit a housing plan that complies with [section 4566(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4566/c&num=0&edition=prelim) within the applicable period; or (4) solely with respect to the housing goals established under sections 4562(a) and 4563(a)(1) of this title, the enterprise has failed to comply with a housing plan under [section 4566(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4566/c&num=0&edition=prelim). **(b) Procedure** (1) **Notice of charges** — Each notice of charges issued under this section shall contain a statement of the facts constituting the alleged conduct and shall fix a time and place at which a hearing will be held to determine on the record whether an order to cease and desist from such conduct should issue. (2) **Issuance of order** — If the Director finds on the record made at a hearing described in paragraph (1) that any conduct specified in the notice of charges has been established (or the enterprise consents pursuant to [section 4582(a)(4) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4582/a/4&num=0&edition=prelim)), the Director may issue and serve upon the enterprise an order requiring the enterprise to— (A) submit a report under section 4547 1 of this title; (B) solely with respect to the housing goals established under sections 4562(a) and 4563(a)(1) of this title, submit a housing plan in compliance with [section 4566(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4566/c&num=0&edition=prelim); (C) solely with respect to the housing goals established under sections 4562(a) and 4563(a)(1) of this title, comply with the housing plan in compliance with [section 4566(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4566/c&num=0&edition=prelim); or (D) provide the information required under subsection (m) or (n) of [section 1723a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1723a&num=0&edition=prelim), or subsection (e) or (f) of [section 1456 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1456&num=0&edition=prelim). **(c) Effective date** An order under this section shall become effective upon the expiration of the 30-day period beginning on the date of service of the order upon the enterprise (except in the case of an order issued upon consent, which shall become effective at the time specified therein), and shall remain effective and enforceable as provided in the order, except to the extent that the order is stayed, modified, terminated, or set aside by action of the Director or otherwise, as provided in this subpart.

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

12 U.S.C. § 1723a — Insurance of mortgages on property in Alaska, Guam, Hawaii, and Virgin Islands

If the Secretary of Housing and Urban Development finds that, because of higher costs prevailing in Alaska, Guam, Hawaii, or the Virgin Islands, it is not feasible to construct dwellings or manufactured home courts or parks on property located in Alaska, Guam, Hawaii, or the Virgin Islands without sacrifice of sound standards of construction, design, or livability, within the limitations as to maximum or maxima mortgage amounts provided in this chapter, the Secretary may, by regulations or otherwise, prescribe, with respect to dollar amount, a higher maximum or maxima for the principal obligation of mortgages insured under this chapter covering property located in Alaska, Guam, Hawaii, or the Virgin Islands in such amounts as he shall find necessary to compensate for such higher costs but not to exceed, in any event, the maximum or maxima otherwise applicable (including increased mortgage amounts in geographical areas where cost levels so require) by more than one-half thereof. No mortgage with respect to a project or property in Alaska, Guam, Hawaii, or the Virgin Islands shall be accepted for insurance under this chapter unless the Secretary finds that the project or property is an acceptable risk giving consideration to the acute housing shortage in Alaska, Guam, Hawaii, or the Virgin Islands: Provided, That any such mortgage may be insured or accepted for insurance without regard to any requirement in any other section of this chapter that the Secretary find the project or property to be economically sound or an acceptable risk. Notwithstanding any of the provisions of this chapter or any other law, the Alaska Housing Authority or the Government of Guam, the Virgin Islands, or Hawaii or any agency or instrumentality thereof shall be eligible as mortgagor or mortgage

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1723a

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

12 U.S.C. § 1456 — Immunity of Corporation; audits and reporting requirements; data collection; Housing Advisory Council

**(a) Rights and remedies of Corporation; State qualifications or similar statutes** All rights and remedies of the Corporation, including without limitation on the generality of the foregoing any rights and remedies of the Corporation on, under, or with respect to any mortgage or any obligation secured thereby, shall be immune from impairment, limitation, or restriction by or under (1) any law (except laws enacted by the Congress expressly in limitation of this sentence) which becomes effective after the acquisition by the Corporation of the subject or property on, under, or with respect to which such right or remedy arises or exists or would so arise or exist in the absence of such law, or (2) any administrative or other action which becomes effective after such acquisition. The Corporation is authorized to conduct its business without regard to any qualification or similar statute in any State. **(b) Government audits; procedure; access to records, etc.; reimbursement of costs** (1) The programs, activities, receipts, expenditures, and financial transactions of the Corporation shall be subject to audit by the Comptroller General of the United States under such rules and regulations as may be prescribed by the Comptroller General. The representatives of the Government Accountability Office shall have access to all books, accounts, financial records, reports, files and all other papers, things, or property belonging to or in use by the Corporation and necessary to facilitate the audit, and they shall be afforded full facilities for verifying transactions with the balances or securities held by depositaries, fiscal agents, and custodians. A report on each such audit shall be made by the Comptroller General to the Congress. The Corporation shall reimburse the Governmen

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1456

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

12 U.S.C. § 4547 — Annual housing report

**(a) In general** After reviewing and analyzing the reports submitted under [section 1723a(n) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1723a/n&num=0&edition=prelim) and [section 1456(f) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1456/f&num=0&edition=prelim), the Director shall submit a report, not later than October 30 of each year, to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives, on the activities of each enterprise. **(b) Contents** The report required under subsection (a) shall— (1) discuss— (A) the extent to and manner in which— (i) each enterprise is achieving the annual housing goals established under subpart 2; (ii) each enterprise is complying with its duty to serve underserved markets, as established under [section 4565 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4565&num=0&edition=prelim); (iii) each enterprise is complying with [section 4567 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4567&num=0&edition=prelim); (iv) each enterprise received credit towards achieving each of its goals resulting from a transaction or activity pursuant to [section 4561(b)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4561/b/2&num=0&edition=prelim); and (v) each enterprise is achieving the purposes of the enterprise established by law; and (B) the actions that each enterprise could undertake to promote and expand the purposes of the enterprise; (2) aggregate and analyze relevant data on income to assess the compliance

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4547

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

12 U.S.C. § 4584 — Enforcement and jurisdiction

Page 1685 TITLE 12—BANKS AND BANKING § 4585 1 See References in Text note below. case has been submitted to the Director for final decision, the Director shall render the decision (which shall include findings of fact upon which the decision is predicated) and shall issue and serve upon the enterprise an order or orders consistent with the provisions of this subpart. (2) Modification Judicial review of any such order shall be exclusively as provided in section 4583 of this title. Unless such a petition for review is time- ly filed as provided in section 4583 of this title, and thereafter until the record in the pro- ceeding has been filed as so provided, the Di- rector may at any time, modify, terminate, or set aside any such order, upon such notice and in such manner as the Director considers prop- er. Upon such filing of the record, the Director may modify, terminate, or set aside any such order with permission of the court. (Pub. L. 102–550, title XIII, § 1342, Oct. 28, 1992, 106 Stat. 3965; Pub. L. 110–289, div. A, title I, § 1130(e)(3)(A), July 30, 2008, 122 Stat. 2711.) Editorial Notes AMENDMENTS 2008—Subsec. (b). Pub. L. 110–289 substituted ‘‘Direc- tor’’ for ‘‘Secretary’’ wherever appearing. § 4583. Judicial review (a) Commencement An enterprise that is a party to a proceeding under section 4581 or 4585 of this title may ob- tain review of any final order issued under such section by filing in the United States Court of Appeals for the District of Columbia Circuit, within 30 days after the date of service of such order, a written petition praying that the order of the Director be modified, terminated, or set aside. The clerk of the court shall transmit a copy of the petition to the Director. (b) Filing of record Upon receiving a

Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 4584

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