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12 U.S.C. § 4581 — Affordable housing allocations
Federal law — U.S. Code and appendices · legal_authorities
**(a) Set aside and allocation of amounts by enterprises** Subject to subsection (b), in each fiscal year—
(1) the Federal Home Loan Mortgage Corporation shall—
(A) set aside an amount equal to 4.2 basis points for each dollar of the unpaid principal balance of its total new business purchases; and
(B) allocate or otherwise transfer—
(i) 65 percent of such amounts to the Secretary of Housing and Urban Development to fund the Housing Trust Fund established under [section 4568 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4568&num=0&edition=prelim); and
(ii) 35 percent of such amounts to fund the Capital Magnet Fund established pursuant to [section 4569 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4569&num=0&edition=prelim); and
(2) the Federal National Mortgage Association shall—
(A) set aside an amount equal to 4.2 basis points for each dollar of unpaid principal balance of its total new business purchases; and
(B) allocate or otherwise transfer—
(i) 65 percent of such amounts to the Secretary of Housing and Urban Development to fund the Housing Trust Fund established under [section 4568 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4568&num=0&edition=prelim); and
(ii) 35 percent of such amounts to fund the Capital Magnet Fund established pursuant to [section 4569 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4569&num=0&edition=prelim).
**(b) Suspension of contributions** The Director shall temporarily suspend allocations under subsection (a) by an enterprise upon a finding by the Director that such allocations—
(1) are contributing, or would contribute, to
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Source file: Laws/federal/codes/united-states-code/title-12/section-4581-affordable-housing-allocations--b6889e0cc5.md
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Source location: Title 12, Chapter 46, § 4581; chapter-046-government-sponsored-enterprises.md
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**(a) Set aside and allocation of amounts by enterprises** Subject to subsection (b), in each fiscal year—
(1) the Federal Home Loan Mortgage Corporation shall—
(A) set aside an amount equal to 4.2 basis points for each dollar of the unpaid principal balance of its total new business purchases; and
(B) allocate or otherwise transfer—
(i) 65 percent of such amounts to the Secretary of Housing and Urban Development to fund the Housing Trust Fund established under [section 4568 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4568&num=0&edition=prelim); and
(ii) 35 percent of such amounts to fund the Capital Magnet Fund established pursuant to [section 4569 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4569&num=0&edition=prelim); and
(2) the Federal National Mortgage Association shall—
(A) set aside an amount equal to 4.2 basis points for each dollar of unpaid principal balance of its total new business purchases; and
(B) allocate or otherwise transfer—
(i) 65 percent of such amounts to the Secretary of Housing and Urban Development to fund the Housing Trust Fund established under [section 4568 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4568&num=0&edition=prelim); and
(ii) 35 percent of such amounts to fund the Capital Magnet Fund established pursuant to [section 4569 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4569&num=0&edition=prelim).
**(b) Suspension of contributions** The Director shall temporarily suspend allocations under subsection (a) by an enterprise upon a finding by the Director that such allocations—
(1) are contributing, or would contribute, to the financial instability of the enterprise;
(2) are causing, or would cause, the enterprise to be classified as undercapitalized; or
(3) are preventing, or would prevent, the enterprise from successfully completing a capital restoration plan under [section 4622 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4622&num=0&edition=prelim).
**(c) Prohibition of pass-through of cost of allocations** The Director shall, by regulation, prohibit each enterprise from redirecting the costs of any allocation required under this section, through increased charges or fees, or decreased premiums, or in any other manner, to the originators of mortgages purchased or securitized by the enterprise.
**(d) Enforcement of requirements on enterprise** Compliance by the enterprises with the requirements under this section shall be enforceable under subpart 3. Any reference in such subpart to this part or to an order, rule, or regulation under this part specifically includes this section and any order, rule, or regulation under this section.
**(e) Required amount for HOPE reserve fund** Of the aggregate amount allocated under subsection (a), 25 percent shall be deposited into a fund established in the Treasury of the United States by the Secretary of the Treasury for such purpose.
**(f) Limitation** No funds under this chapter may be used in conjunction with property taken by eminent domain, unless eminent domain is employed only for a public use, except that, for purposes of this section, public use shall not be construed to include economic development that primarily benefits any private entity.
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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
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Federal law — U.S. Code and appendices · legal_authorities
Any service required or authorized to be made by the Director under this subchapter may be made by registered mail, or in such other manner reasonably calculated to give actual notice as the Director may by regulation or otherwise provide.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4501
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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
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Duty to serve underserved markets**
(1) **11 So in original. No par. (2) has been enacted. Duty** — To increase the liquidity of mortgage investments and improve the distribution of investment capital available for mortgage financing for underserved markets, each enterprise shall provide leadership to the market in developing loan products and flexible underwriting guidelines to facilitate a secondary market for mortgages for very low-, low-, and moderate-income families with respect to the following underserved markets:
(A) *Manufactured housing* — The enterprise shall develop loan products and flexible underwriting guidelines to facilitate a secondary market for mortgages on manufactured homes for very low-, low-, and moderate-income families.
(B) *Affordable housing preservation* — The enterprise shall develop loan products and flexible underwriting guidelines to facilitate a secondary market to preserve housing affordable to very low-, low-, and moderate-income families, including housing projects subsidized under_22 So in original.
(i) the project-based and tenant-based rental assistance programs under [section 1437f of title 42](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1437f&num=0&edition=prelim);
(ii) the program under [section 1715z–1 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1715z-1&num=0&edition=prelim);
(iii) the below-market interest rate mortgage program under section 1715l(d)(4) of this title;
(iv) the supportive housing for the elderly program under [section 1701q of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1701q&num=0&edition=prelim);
(v) the supportive housing program for persons with di
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4568
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Federal law — U.S. Code and appendices · legal_authorities
Page 1684
TITLE 12—BANKS AND BANKING
§ 4581
1 See References in Text note below.
(ii) selection shall be based upon specific
criteria, including a prioritization of fund-
ing based upon—
(I) the ability to use such funds to gen-
erate additional investments;
(II) affordable housing need (taking
into account the distinct needs of dif-
ferent regions of the country); and
(III) ability to obligate amounts and
undertake activities so funded in a time-
ly manner.
(Pub. L. 102–550, title XIII, § 1339, as added Pub.
L. 110–289, div. A, title I, § 1131(b), July 30, 2008,
122 Stat. 2723.)
SUBPART 3—ENFORCEMENT
§ 4581. Cease and desist proceedings
(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 re-
port under section 4547 1 of this title, following
a notice of such failure, an opportunity for
comment by the enterprise, and a final deter-
mination by the Director;
(2) the enterprise has failed to submit the in-
formation required under subsection (m) or (n)
of section 1723a of this title, or subsection (e)
or (f) of section 1456 of this title;
(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 within the applica-
ble 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.
(b) Procedure
(1) Notice of charges
Each notice of charges issued under this sec-
tion shall contain a statement of the
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 4581
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