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HUD Multifamily Rental Project Closing Documents

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§ 1714

TITLE 12-BANKS AND BANKING

"(a) AUTHOR=.-Not later than the expiration of the
60-day period beginning on the date of enactment this
Act [Nov. 28, 1990], the Secretary of Housing and Urban
Development shall implement a system of mortgage insurance for mortgages insured under section 207, 221,
223, 232, or 241 of the National Housing Act [12 U.S.C.
1713, 17151, 1715n, 1715w, 1715z-6] that delegates processing functions to selected approved mortgagees or other
individuals and entities expressly approved by the Department of Housing and Urban Development. Under
such system, the Secretary shall retain the authority
to approve rents, expenses, property appraisals, and
mortgage amounts and to execute a firm commitment.
"(b) FULL INSURANCE PROGRAM.-Notwithstanding
subsection (a), the Secretary shall maintain a viable
system for full insurance programs under such Act
[this chapter] under which all processing functions are
performed by officers and employees of the Department
of Housing and Urban Development."

LIMITATION ON NUMBER OF DWELLING UNITS WITH
MORTGAGES NOT PROVIDING FOR COMPLETE AMORTIZATION
Pub. L. 98-181, title I [title IV, §446(f)], Nov. 30, 1983,
97 Stat. 1228, provided that: "The aggregate number of
dwelling units included in properties covered by mortgages insured pursuant to the authority granted in the
amendments made by this section [amending sections
1713, 1715k, 17151, and 1715v of this title] in any fiscal
year may not exceed 10,000."

AMENDMENTS TO PROVISIONS FOR FAMILY UNIT LIMITS
ON RENTAL HOUSING; EQUITABLE APPLICATION OF
SUCH AMENDMENTS OR PRE-AMENDMENT PROVISIONS
TO PROJECTS SUBMITTED FOR CONSIDERATION PRIOR
TO SEPTEMBER 2, 1964
Pub. L. 88-560, title I, §107(g), Sept. 2, 1964, 78 Stat.
776, as amended by Pub. L. 90-19, § 21(a), May 25, 1967, 81
Stat. 25, provided that if the Secretary of Housing and
Urban Development determined that it would be inequitable to apply the provisions of the National Housing Act as amended by section 107 [amending sections
1713, 1715e, 1715k, 17151, 1715v, and 1748h-2 of this title]
to a project which had been submitted for his consideration prior to Sept. 2, 1964, such provisions could be applied to such project without regard to the amendments made by section 107.

§ 1714. Taxation
Nothing in this subchapter shall be construed
to exempt any real property acquired and held
by the Secretary under this subchapter from
taxation by any State or political subdivision
thereof, to the same extent, according to its
value, as other real property is taxed.
(June 27, 1934, ch. 847, title II, § 208, 48 Stat. 1252;
Feb. 3, 1938, ch. 13, §3, 52 Stat. 22; Apr. 20, 1950,
ch. 94, title I, §122, 64 Stat. 59; Pub. L. 90-19,
§1(a)(3), May 25, 1967, 81 Stat. 17.)
AMENDMENTS
1967-Pub. L. 90-19 substituted "Secretary" for "Commissioner".
1950-Act Apr. 20, 1950, substituted "Commissioner"
for "Administrator".
1938-Act Feb. 3, 1938, corrected error in spelling of
"subdivision".

§ 1715. Statistical and economic surveys
The Secretary shall cause to be made in connection with the insurance programs such statistical surveys and legal and economic studies
as he shall deem useful to guide the development of housing and the creation of a sound
mortgage market in the United States, and shall

Page 564

publish from time to time the results of such
surveys and studies. Expenses of such studies
and surveys, and expenses of publication and
distribution of the results of such studies and
surveys, shall be charged as a general expense of
such insurance fund or funds, as the Secretary
shall determine.
(June 27, 1934, ch. 847, title II, § 209, 48 Stat. 1252;
Feb. 3, 1938, ch. 13, §3, 52 Stat. 22; Mar. 28, 1941,
ch. 31, § 4(c), 55 Stat. 62; Apr. 20, 1950, ch. 94, title
I, §122, 64 Stat. 59; Pub. L. 87-70, title VI, § 612(d),
June 30, 1961, 75 Stat. 181; Pub. L. 89-117, title XI,
§1108(f), Aug. 10, 1965, 79 Stat. 504; Pub. L. 90-19,
§1(a)(3), (f), May 25, 1967, 81 Stat. 17, 18.)
AMENDMENTS
1967-Pub. L. 90-19 substituted "Secretary" for "Commissioner" wherever appearing and inserted "in connection with the insurance programs" after "made".
1965-Pub. L. 89-117 struck out "or account or accounts," after "fund or funds,".
1961-Pub. L. 87-70 substituted "shall be charged as a
general expense of such insurance fund or funds, or account or accounts, as the Commissioner shall determine" for "shall be charged as a general expense of the
Fund, the Housing Fund, and the Defense Housing Insurance Fund in such proportion as the Commissioner
shall determine".
1950-Act Apr. 20, 1950, substituted "Commissioner"
for "Administrator" wherever appearing.
1941-Act Mar. 28, 1941, substituted "Fund, the Housing Fund, and the Defense Housing Insurance Fund" for
"Fund and the Housing Fund".
1938-Act Feb. 3, 1938, inserted "and the Housing
Fund in such proportion as the Administrator shall determine" after "Fund".

§ 1715a. Repealed. June 3, 1939, ch. 175, §13, 53
Stat. 807
Section, act June 27, 1934, ch. 847, title II, § 210, as
added by act Feb. 3, 1938, ch. 13, §3, 52 Stat. 22, related
to additional housing insurance.

APPLICATIONS PRIOR TO REPEAL
Act June 3, 1939, ch. 175, §13, 53 Stat. 807, which repealed this section, also provided: "That the Administrator is authorized to insure under said section [this
section] any mortgage for the insurance of which an application has been filed with him prior to the effective
date of this act [June 3, 1939]."

§ 1715b. Rules and regulations
The Secretary is authorized and directed to
make such rules and regulations as may be necessary to carry out the provisions of this subchapter.
(June 27, 1934, ch. 847, title II, § 211, as added Feb.
3, 1938, ch. 13, §3, 52 Stat. 23; amended Apr. 20,
1950, ch. 94, title I, §122, 64 Stat. 59; Pub. L. 90-19,
§1(a)(3), May 25, 1967, 81 Stat. 17.)
AMENDMENTS
1967-Pub. L. 90-19 substituted "Secretary" for "Commissioner".
1950-Act Apr. 20, 1950, substituted "Commissioner"
for "Administrator".

REGULATIONS
Pub. L. 98-479, title I, §104(f), Oct. 17, 1984, 98 Stat.
2226, required Secretary of Housing and Urban Development, not later than Oct. 31, 1984, to issue regulations
to carry out amendments made to section 1715z-7 of
this title by section 436 of Housing and Urban-Rural Recovery Act of 1983, Pub. L. 98-181, title I [titles I-V].

§ 200.45

24 CFR Ch. 11 (4-1-19 Edition)

determined appropriate by the Commissioner.

to be insured pursuant to section 223(f)
of the Act.
(d) Effect of SAMA letter, feasibility letter, and firm commitment—(1) SAMA letter. (i) The issuance of a SAMA letter
indicates completion of the site appraisal and market analysis stage to
determine initial acceptability of the
site and recognition of a specific market need. The SAMA letter is not a
commitment to insure a mortgage for
the proposed project and does not bind
the Commissioner to issue a firm commitment to insure. The SAMA letter
precedes the later submission of acceptable plans and specifications for
the proposed project and is limited to
advising the applicant as to the following determinations of the Commissioner, which shall not be changed to
the detriment of an applicant, if the
application for a firm commitment is
received before expiration of the SAMA
letter:
(A) The land value fully improved
(with off-site improvements installed);
(B) The acceptability of the proposed
project site, the proposed composition,
number and size of the units and the
market for the number of proposed
units. Where the application is not acceptable as submitted, but can be made
acceptable by a change in the number,
size, or composition of the units, the
SAMA letter may establish the specific
lesser number of units which would be
acceptable and any acceptable alternative plan for the composition and
size of units; and
(C) The acceptability of the unit
rents proposed. Where rent levels are
unacceptable, the SAMA letter may establish specific rents which are acceptable.
(ii) After receiving a SAMA letter,
the sponsor shall submit design drawings and specifications in a timeframe
prescribed by the Commissioner. The
Commissioner will review and comment on design development and the
drawings and specifications. The comments will be provided to the sponsor
for use in preparing a firm commitment application.
(2) Feasibility letter. The issuance of a
feasibility letter indicates approval of
the preliminary work write-up and outline specifications and completion of

COMMITMENT APPLICATIONS
§ 200.45 Processing of applications.
(a) Preapplication conference. Except
for mortgages insured under section
241(f) or 242 of the Act, the local HUD
Office will determine whether participation in such a conference is required
as a condition to submission of an initial application for either a site appraisal and market analysis (SAMA)
letter (for new construction), a feasibility letter (for substantial rehabilitation), or for a firm commitment. The
project sponsor may elect (after the
preapplication conference if required)
to submit an application for a SAMA
or a feasibility letter (as appropriate),
or for a firm commitment for insurance
depending upon the completeness of
the drawings, specifications and other
required exhibits. An application for a
SAMA or feasibility letter may be submitted by the project sponsor. An application for a firm commitment for insurance must be submitted by both the
project sponsor and an approved mortgagee. Applications shall be submitted
to the local HUD Office on HUD-approved forms. No application will be
considered unless accompanied by all
exhibits required by the form and program handbooks. At the option of the
local HUD Office, the SAMA/Feasibility letter stage of processing can be
combined with the firm commitment
stage of processing.
(b) Firm commitment requirement. An
application for a firm commitment
must be made by an approved mortgagee for any project for which a mortgagor seeks mortgage insurance under
the Act.
(c) Staged applications. Staged applications leading to an application for
firm commitment shall be made as determined appropriate by the Commissioner, and in accordance with such
terms and conditions established by
the Commissioner. The intermediate
stages to firm commitment may include a site appraisal and market analysis (SAMA) letter stage or a feasibility letter stage and a conditional
commitment. The conditional commitment stage applies only to mortgages

Office of Assistant Secretary for Housing, HUD

§200.52

technical processing involving the estimated rehabilitation cost of the
project, the "as is" value of the site,
the detailed estimates of operating expenses and taxes, the specific unit
rents, the vacancy allowance, and the
estimated mortgage amount. The
issuance of a feasibility letter is not a
commitment to insure a mortgage for
the proposed project and does not bind
the Commissioner to issue a firm commitment to insure. Determinations
found in a feasibility letter are not to
be binding upon the Department and
may be changed in whole or in part at
any later point in time. The letter may
even be unilaterally terminated by the
Commissioner if found necessary.
(3)
Conditional
commitment.
The
issuance of a Section 223(f) conditional
commitment indicates completion of
technical processing involving the estimated value of the property, the detailed estimates of rents, operating expenses and taxes and an estimated
mortgage amount.
(e) Term of SAMA letter, feasibility letter, and conditional commitment. A
SAMA letter, a feasibility letter, and a
conditional commitment shall be effective for whatever term is specified in
the respective letter or commitment.
(f) Rejection of an application. A significant deviation in an application
from the Commissioner's terms or conditions in an earlier stage application
commitment or agreement shall be
grounds for rejection. The fees paid to
such date shall be considered as having
been earned notwithstanding such rejection.

§ 200.47 Firm commitments.

(Approved by the Office of Management and
Budget under control number 2502-0029)

§ 200.51 Mortgagee certificate.

A valid firm commitment must be in
effect at the time the mortgage instrument is endorsed.
(a) Insurance upon completion. The
commitment shall provide the terms
and conditions for the insurance of the
mortgage:
(1) After completion of construction
or substantial rehabilitation of the
project; or
(2) Upon completion of required
work, except as deferred by the Commissioner in accordance with terms,
conditions and standards established
by the Commissioner, for an existing
project without substantial rehabilitation.
(b) Insured advances. The commitment shall provide for insurance of the
mortgage as provided in paragraph (a)
of this section, and for the insurance of
mortgage money advanced in accordance with terms and conditions established by the Commissioner during:
construction; substantial rehabilitation; or other work acceptable to the
Commissioner.
REQUIREMENTS INCIDENT TO INSURED
ADVANCES
§ 200.50 Building loan agreement.
The mortgagor and mortgagee must
execute a building loan agreement approved by the Commissioner, that sets
forth the terms and conditions under
which progress payments may be advanced during construction, before initial endorsement of the mortgage for
insurance.

The mortgagee shall certify to the
Commissioner that it will conform
with terms and conditions established
by the Commissioner for the mortgagee's control of project funds, and
other incidental requirements established by the Commissioner.

[61 FR 14415, Apr. 1, 1996]
§ 200.46

Commitment issuance.

Upon approval of an application for
insurance, a commitment shall be
issued by the Commissioner setting
forth the terms and conditions upon
which the mortgage will be insured.
The commitment term and any extension or reopening of an expired commitment shall be in accordance with
standards established by the Commissioner.

§ 200.52

Construction contract.

The form of contract between the
mortgagor and builder shall be as prescribed by the Commissioner in accordance with terms and conditions established by the Commissioner.

§ 200.53

24 CFR Ch. 11 (4-1-19 Edition)
conditions, and standards established
by the Commissioner;
(d) In the case of a mortgage insured
under any provision of this title executed in connection with the purchase,
construction, rehabilitation, or refinancing of a multifamily tax credit
project, the Commissioner may not require:
(1) The escrowing of equity provided
by Low-Income Housing Tax Credits
for the project pursuant to Title 26,
section 42 of the Internal Revenue Code
of 1986;
(2) The escrowing of equity provided
by historic rehabilitation tax credits,
New Markets Tax Credits, or any other
form of security, such as a letter of
credit.

§ 200.53 Initial operating funds.
The mortgagor shall deposit cash
with the mortgagee, or in a depository
satisfactory to the mortgagee and
under control of the mortgagee, in accordance with terms, conditions and
standards established by the Commissioner for:
(a) Accruals for taxes, ground rates,
mortgage insurance premiums, and
property insurance premiums, during
the course of construction;
(b) Meeting the cost of equipping and
renting the project subsequent to its
completion in whole or part; and
(c) Allocation by the mortgagee for
assessments required by the terms of
the mortgage in an amount acceptable
to the Commissioner.

[75 FR 51915, Aug. 23, 2010]

§ 200.54 Project completion funding.
(a) Except as provided in paragraph
(d) of this section, the mortgagor shall
deposit with the mortgagee cash
deemed by the Commissioner to be sufficient, when added to the proceeds of
the insured mortgage, to assure completion of the project and to pay the
initial
service
charge,
carrying
charges, and legal and organizational
expenses incident to the construction
of the project. The Commissioner may
accept a lesser cash deposit or an alternative to a cash deposit in accordance
with terms and conditions established
by the Commissioner, where the required funding is to be provided by a
grant or loan from a Federal, State, or
local government agency or instrumentality.
(b) An agreement acceptable to the
Commissioner shall require that funds
provided by the mortgagor under requirements of this section must be disbursed in full for project work, material, and incidental charges and expenses before disbursement of any
mortgage proceeds, except:
(c) Low-income housing tax credit
syndication proceeds, historic tax-credit syndication proceeds, New Markets
Tax Credits proceeds, or funds provided
by a grant or loan from a Federal,
State, or local governmental agency or
instrumentality under requirements of
this section need not be fully disbursed
before the disbursement of mortgage
proceeds, where approved by the Commissioner in accordance with terms,

§ 200.55 Financing fees and charges.
Fees and charges approved by the
Commissioner in excess of the initial
service charge shall be deposited with
the mortgagee in cash before initial endorsement,
except
as
otherwise
preapproved by the Commissioner.
§ 200.56 Assurance of completion for
on-site improvements.
The mortgagor shall furnish assurance of completion of the project in the
form and amount provided by terms,
conditions and standards established
by the Commissioner.
GENERAL REQUIREMENTS
§ 200.60 Assurance of completion for
offsite facilities.
An assurance of completion for offsite utilities, streets, and other facilities required for a buildable site shall
be provided in an amount and form acceptable to the Commissioner, except
where a municipality or other public
body has, in a manner acceptable to
the Commissioner, agreed to install
such improvements without cost to the
mortgagor.
§ 200.61 Title.
(a) Marketable title to the project
must be vested in the mortgagor as of
the date the mortgage is filed for
record.
(b) Title evidence for the Commissioner's examination shall include a

Office of Assistant Secretary for Housing, HUD

§200.52

§ 200.47 Firm commitments.

(Approved by the Office of Management and
Budget under control number 2502-0029)

§ 200.51 Mortgagee certificate.

[61 FR 14415, Apr. 1, 1996]
§ 200.46

Commitment issuance.

§ 200.52

Construction contract.

The form of contract between the
mortgagor and builder shall be as prescribed by the Commissioner in accordance with terms and conditions established by the Commissioner.

§ 200.53

[75 FR 51915, Aug. 23, 2010]

§ 200.53

[75 FR 51915, Aug. 23, 2010]

Office of Assistant Secretary for Housing, HUD
lender's title insurance policy, which
title policy provides survey coverage
based on a survey acceptable to the
title company and the Commissioner;
or as the Commissioner may otherwise
require, in accordance with terms, conditions and standards established by
the Commissioner.
(c) Endorsement of the credit instrument for insurance shall evidence the
acceptability of title evidence.

§200.73
PROPERTY REQUIREMENTS

§ 200.70 Location and fee interest.
The property must be held by an eligible mortgagor, and must conform
with requirements pertaining to property location and fee or lease interests
of the section of the Act under which
the mortgage is insured.
§ 200.71 Liens.
The project must be free and clear of
all liens other than the insured mortgage, except that the property may be
subject to an inferior lien as provided
by terms and conditions established by
the Commissioner for an inferior lien:
(a) Made or held by a Federal, State
or local government instrumentality;
(b) Required in connection with: an
operating loss loan insured pursuant to
a section 223(d) of the Act; a supplemental loan insured pursuant to section 241 of the Act; or a mortgage to
purchase or refinance an existing
project pursuant to section 223(f) of the
Act; or
(c) As otherwise provided by the
Commissioner.

§ 200.62 Certifications.
Any agreement, undertaking, statement or certification required by the
Commissioner shall specifically state
that it has been made, presented, and
delivered for the purpose of influencing
an official action of the FHA, and of
the Commissioner, and may be relied
upon by the Commissioner as a true
statement of the facts contained therein.
§ 200.63 Required deposits and letters
of credit.
(a) Deposits. Where the Commissioner
requires the mortgagor to make a deposit of cash or securities, such deposit
shall be with the mortgagee or a depository acceptable to the mortgagee. The
deposit shall be held by the mortgagee
in a special account or by the depository under an appropriate agreement
approved by the Commissioner.
(b) Letter of credit. Where the use of a
letter of credit is acceptable to the
Commissioner in lieu of a deposit of
cash or securities, the letter of credit
shall be issued to the mortgagee by a
banking institution and shall be unconditional and irrevocable:
(1) The mortgagee of record may not
be the issuer of any letter of credit
without the prior written consent of
the Commissioner.
(2) The mortgagee shall be responsible to the Commissioner for collection under the letter of credit. In the
event a demand for payment thereunder is not immediately met, the
mortgagee shall immediately provide a
cash deposit equivalent to the undrawn
balance of the letter of credit.

§ 200.72 Zoning, deed and building restrictions.
The project when completed shall not
violate any material zoning or deed restrictions applicable to the project
site, and shall comply with all applicable building and other governmental
codes, ordinances, regulations and requirements.
§ 200.73 Property development.
(a) The property shall be suitable and
principally designed for the intended
use, as provided by the applicable section of the Act under which the mortgage is insured, and have long-term
marketability. Design, construction,
substantial rehabilitation and repairs
shall be in accordance with standards
established by the Commissioner.
(b) A project may include such commercial and community facilities as
the Commissioner deems acceptable.
(0) The improvements shall constitute a single project. Not less than
five rental dwelling units or personal
care units, 20 medical care beds, or 50
manufactured home pads, shall be on
one site, except that such limitations

Office of Assistant Secretary for Housing, HUD

§200.105

of the commitment have been met to
the Commissioner's satisfaction the
Commissioner shall indicate on the
original credit instrument the total of
all advances approved for insurance
and again endorse such instrument.
(c) Contract rights and obligations. The
Commissioner and the mortgagee or
lender shall be bound from the date of
initial endorsement, whether the initial and final endorsement occur simultaneously or are split, by the provisions of the Contract Rights and Obligations set forth in the respective regulations for each section of the Act, as
follows: Section 207 of the Act (24 CFR
part 207); Section 213 of the Act (24 CFR
part 213); Section 220 of the Act (24 CFR
part 220); Section 221 of the Act (24 CFR
part 221); Section 231 of the Act (24 CFR
part 231); Section 232 of the Act (24 CFR
part 232); Section 234 of the Act (24 CFR
part 234); Section 241 of the Act (24 CFR
part 241); Section 242 of the Act (24 CFR
part 242); title XI of the Act (24 CFR
part 244).

§ 200.97 Adjustments resulting from
cost certification.
(a) Fee simple site. Upon receipt of the
mortgagor's certification of actual cost
there shall be added to the total
amount thereof the Commissioner's estimate of the fair market value of any
land included in the mortgage security
and owned by the mortgagor in fee,
such value being prior to the construction of the improvements.
(b) Leasehold site. In the event the
land is held under a leasehold or other
interest less than a fee, the cost, if
any, of acquiring the leasehold or other
interest is considered an allowable expense which may be added to actual
cost provided that in no event shall
such amount be in excess of the fair
market value of such leasehold or
other interest exclusive of proposed
improvements.
(c) Adjustment. If the amount calculated in accordance with paragraphs
(a) or (b) of this section exceeds the
statutory dollar amount limits or loan
ratio limits permitted by the section of
Act under which the mortgage is to be
insured, or program loan ratio limits
established by the Commissioner in the
absence of statutory limits, the
amount must be reduced to the applicable limits before final endorsement.

§ 200.101 Mortgagor lien certificate.
The mortgagor shall certify at the
final endorsement of the mortgage for
insurance as to each of the following:
(a) That the mortgage is the first lien
upon and covers the entire project, including any equipment financed with
mortgage proceeds.
(b) That the property upon which the
improvements have been made or constructed and the equipment financed
with mortgage proceeds are free and
clear of all liens other than the insured
mortgage and such other liens as may
be approved by the Commissioner.
(c) That the certificate sets forth all
unpaid obligations in connection with
the mortgage transaction, the purchase
of the mortgaged property, the construction or rehabilitation of the
project or the purchase of the equipment financed with mortgage proceeds.

ENDORSEMENT
§ 200.100 Insurance endorsement.
The credit instrument shall be initially and finally endorsed simultaneously for insurance pursuant to a
commitment to insure upon completion. Where the advances of construction funds are to be insured pursuant
to a commitment for insured advances,
initial endorsement of the credit instrument shall occur before any mortgage proceeds are insured and the time
of final endorsement shall be as set
forth in paragraph (b) of this section.
(a) Initial endorsement. The Commissioner shall indicate the insurance of
the mortgage by endorsing the original
credit instrument and identifying the
section of the Act and the regulations
under which the mortgage is insured
and the date of insurance.
(b) Final endorsement. When all advances of mortgage proceeds have been
made and all the terms and conditions

REGULATION OF MORTGAGORS
§ 200.105 Mortgagor supervision.
(a) As long as the Commissioner is
the insurer or holder of the mortgage,
the Commissioner shall regulate the
mortgagor by means of a regulatory
agreement providing terms, conditions

Office of Assistant Secretary for Housing, HUD

§200.105

§ 200.106

24 CFR Ch. 11 (4-1-19 Edition)
Subpart B—Electronic Submission
of Required Data for Mortgage Defaults and Mortgage
Insurance Claims for Insured
Multifamily Mortgages

and standards established by the Commissioner, or by such other means as
the Commissioner may prescribe.
(b) The Commissioner may delegate
to the mortgagee or other party the
Commissioner's authority, in whole or
in part, in accordance with the terms,
conditions and standards established
by the Commissioner in any executed
Regulatory Agreement or other instrument granting the Commissioner supervision of the mortgagor.

SOURCE: 64 FR 4769, Jan. 29, 1999, unless
otherwise noted.
§ 200.120

Purpose and applicability.

(a) Purpose. The purpose of this subpart B is to require mortgagees of all
multifamily projects whose mortgages
are insured or coinsured by HUD to
submit electronically information regarding mortgage delinquencies, defaults, reinstatements, elections to assign, and withdrawals of assignment
elections, and related information, as
that information is required by 24 CFR
part 207 and Form HUD-92426 (which is
available at the Department of Housing
and Urban Development, HUD Customer Service Center, 451 7th Street,
SW, Room B-100, Washington, DC 20410;
telephone (800) 767-7468).
(b) Applicability. This subpart applies
to all HUD multifamily mortgage insurance and coinsurance programs.

[61 FR 14399, Apr. 1, 1996, as amended at 65
FR 61074, Oct. 13, 2000]
§ 200.106 Projects with limited distribution mortgagors and program
assistance.
(a) Regulation as limited distribution
mortgagors. In addition to regulation
under § 200.105, limited distribution
mortgagors for projects receiving "assistance within the jurisdiction of the
Department" (as defined in §4.3 of this
title) may be regulated by the Commissioner as to additional matters, by regulation or otherwise, including as to
the amount of the permissible distribution to the mortgagor.
(b) Increased distributions. The Commissioner may permit increased distributions of surplus cash, in excess of
the amounts the Commissioner otherwise permits for limited distribution
mortgagors, to a limited distribution
mortgagor who participates in a HUDapproved initiative or program to preserve housing stock with below-market
rents as affordable housing. The increased distribution will be limited to
a maximum amount based on market
rents and calculated according to HUD
instructions. Funds that the mortgagor
is authorized to retain under section
236(g)(2) of the National Housing Act
are not considered distributions to the
mortgagor.
(c) Pre-emption. Any State or local
law or regulation that restricts distributions to an amount lower than
permitted by the Commissioner under
authority of this section is preempted
to the extent provided in section 524(f)
of the Multifamily Assisted Housing
Reform and Affordability Act of 1997.

§ 200.121 Requirements and effectiveness.
(a) Multifamily mortgagees, which
are required by 24 CFR part 207 to report mortgage delinquencies, defaults,
reinstatements, assignment elections,
withdrawals of assignment elections,
and related information, must submit
this information electronically, over
the Internet, in accordance with the
following schedule of effectiveness:
(1) Mortgagees having 70 or more insured mortgage loans must comply
with this section by no later than
March 1, 1999;
(2) Mortgagees having from 26 to 69
insured mortgage loans must comply
with this section by no later than January 1, 2000;
(3) Mortgagees having from 11 to 25
insured mortgage loans must comply
with this section by no later than January 1, 2001;
(4) Mortgagees having 10 or fewer insured mortgage loans must comply
with this section by no later than January 1, 2002.

[65 FR 61074, Oct. 13, 2000]

Page 409

TITLE 12-BANKS AND BANKING

Sec.
1735g.

Mortgage relief for homeowners who are
unemployed as result of closing of Federal installation.
1735h.
Repealed.
SUBCHAPTER VI-WAR HOUSING INSURANCE
1736.
1737.
1738.
1739.
1740.
1741.

Definitions.
Repealed.
Insurance of mortgages.
Mortgage insurance benefits.
Repealed.
State taxation of realty held by Secretary.
1742.
Rules and regulations.
1743.
Insurance of mortgages.
1744.
Insurance of loans for manufacture of
houses.
1745.
Insurance of mortgages on sales of Government housing; limits and conditions; Greenbelt towns; State housing.
1746.
Insurance on mortgages on large-scale
housing projects.
Termination of commitment authority
1746a.
under this subchapter.
SUBCHAPTER
VII-INSURANCE
FOR
INVESTMENTS IN RENTAL HOUSING FOR FAMILIES OF
MODERATE INCOME
1747.

Purpose of subchapter; authorization;
terms and conditions; expiration of insurance contract.
1747a.
Eligibility for insurance.
1747b.
Premium charges; fees for examination
and inspection.
1747c.
Rent schedules.
1747d.
Excess earnings used for amortization of
original investment.
Financial statements by Secretary.
1747e.
1747f.
Payment of claims; assignment of benefits by investors.
1747g.
Debentures.
Termination of insurance contract by in1747h.
vestor.
1747i.
Repealed.
1747j.
Taxation of real property.
1747k.
Rules and regulations.
17471.
Definitions.
SUBCHAPTER VIII-ARMED SERVICES HOUSING
MORTGAGE INSURANCE
1748.
1748a.
1748b.
1748c.
1748d.
1748e.
1748f.
1748g.
1748g-1, 1748h.
1748h-1.
1748h-2.

Definitions.
Repealed.
Insurance of mortgages.
Repealed.
Lease of property; terms and conditions.
Mortgages on property in Alaska.
Rules and regulations.
Cost certification.
Omitted.
Civilian employees of Armed Forces.
Insurance of mortgages for defense housing for impacted areas.
1748h-3.
Payments in lieu of taxes; limitations;
exemption from taxation.
1748i.
Omitted.
SUBCHAPTER DC-HOUSING FOR EDUCATIONAL
INSTITUTIONS
1749 to 1749c.
1749d.

Repealed.
Cost of inspections and of providing representatives.
SUBCHAPTER IX-A-MORTGAGE INSURANCE FOR
LAND DEVELOPMENT AND NEW COMMUNITIES

1749aa to 174911. Repealed.
SUBCHAPTER DC-B-MORTGAGE INSURANCE FOR
GROUP PRACTICE FACILITIES AND MEDICAL
PRACTICE FACILITIES
1749aaa.

Insurance of mortgages.

Sec.
1749aaa-1.
1749aaa-2.
1749aaa-3.
1749aaa-4.
1749aaa-5.

§ 1701

Premiums and other charges.
Payment of insurance benefits.
Regulations.
Administration.
Definitions.

SUBCHAPTER IX-C-NATIONAL INSURANCE
DEVELOPMENT PROGRAM
1749bbb to 1749bbb-2. Omitted.
PART A-STATEWIDE PLANS To ASSURE FAIR ACCESS
TO INSURANCE REQUIREMENTS
1749bbb-3 to 1749bbb-6a. Omitted.
PART B-REINSURANCE COVERAGE
1749bbb-7 to 1749bbb-10. Omitted.
PART C-FEDERAL INSURANCE AGAINST BURGLARY AND
THEFT
1749bbb-10a to 1749bbb-10d. Omitted.
PART D-GENERAL PROVISIONS
1749bbb-11 to 1749bbb-21. Omitted.
SUBCHAPTER X-NATIONAL DEFENSE HOUSING
INSURANCE
1750.
1750a, 1750a-1.
1750b.
1750c.
1750d.
1750e.
1750f.
1750g.

Definitions.
Repealed or Omitted.
Insurance in critical areas.
Mortgage insurance benefits.
Repealed.
Taxation.
Rules and regulations.
Insurance of additional mortgages.

SUBCHAPTER XI-VOLUNTARY HOME MORTGAGE
CREDIT
1750aa to 1750jj. Omitted.
§ 1701. Short title
This chapter may be cited as the "National
Housing Act."
(June 27, 1934, ch. 847, 48 Stat. 1246.)
REFERENCES IN TEXT
This chapter, referred to in text, was in the original
"this Act", meaning act June 27, 1934, ch. 847, 48 Stat.
1246, as amended, which is classified principally to this
chapter (§1701 et seq.). For complete classification of
this Act to the Code, see Tables.
SHORT TITLE OF 2013 AMENDMENT
Pub. L. 113-29, §1, Aug. 9, 2013, 127 Stat. 509, provided
that: "This Act [amending section 1715z-20 of this title]
may be cited as the 'Reverse Mortgage Stabilization
Act of 2013'."
SHORT TITLE OF 2011 AMENDMENT
Pub. L. 111-372, §1(a), Jan. 4, 2011, 124 Stat. 4077, provided that: "This Act [amending sections 1701q and
1701q-2 of this title and section 1437f of Title 42, The
Public Health and Welfare, and amending provisions
set out as notes under section 1701q of this title] may
be cited as the 'Section 202 Supportive Housing for the
Elderly Act of 2010'."
SHORT TITLE OF 2010 AMENDMENT
Pub. L. 111-203, title XIV, §1441, July 21, 2010, 124
Stat. 2163, provided that: "This subtitle [subtitle D
(§§1441-1452) of title XIV of Pub. L. 111-203, enacting
sections 1701p-2 and 1701x-1 of this title and section 8108
of Title 42, The Public Health and Welfare, and amending sections 1701x and 2604 of this title and section 3533
of Title 42] may be cited as the 'Expand and Preserve
Home Ownership Through Counseling Act'."

§ 1701

TITLE 12-BANKS AND BANKING
SHORT TITLE OF 2008 AMENDMENT

Pub. L. 110-289, div. A, title IV, §1401, July 30, 2008, 122
Stat. 2800, provided that: "This title [enacting section
1715z-23 of this title and section 1639a of Title 15, Commerce and Trade, and amending section 1708 of this
title] may be cited as the 'HOPE for Homeowners Act
of 2008'."
Pub. L. 110-289, div. B, §2001, July 30, 2008, 122 Stat.
2830, provided that: "This division [see Tables for classification] may be cited as the 'Foreclosure Prevention
Act of 2008'."
Pub. L. 110-289, div. B, title I, § 2101, July 30, 2008, 122
Stat. 2830, provided that: "This title [enacting sections
1706f and 1715z-24 of this title, amending sections 1701x,
1703, 1707 to 1709, 1711, 1715y, 1715z-12, 1715z-13, 1715z-20,
and 1735c of this title and section 1014 of Title 18,
Crimes and Criminal Procedure, repealing sections
1715m, 1715z-2, and 1715z-10 of this title, enacting provisions set out as notes under this section and sections
1701x, 1703, 1709, and 1710 of this title, and amending
provisions set out as a note under section 12712 of Title
42, The Public Health and Welfare] may be cited as the
`FHA Modernization Act of 2008'."
Pub. L. 110-289, div. B, title I, § 2111, July 30, 2008, 122
Stat. 2830, provided that: "This subtitle [subtitle A
(§§2111-2133) of title I of div. B of Pub. L. 110-289, enacting section 1715z-24 of this title, amending sections
1701x, 1707 to 1709, 1711, 1715y, 1715z-12, 1715z-13, 1715z-20,
and 1735c of this title and section 1014 of Title 18,
Crimes and Criminal Procedure, repealing sections
1715m, 1715z-2, and 1715z-10 of this title, enacting provisions set out as notes under this section and sections
1701x, 1709, and 1710 of this title, and amending provisions set out as a note under section 12712 of Title 42,
The Public Health and Welfare] may be cited as the
`Building American Homeownership Act of 2008'."
Pub. L. 110-289, div. B, title I, § 2141, July 30, 2008, 122
Stat. 2844, provided that: "This subtitle [subtitle B
(§§2141-2150) of title I of div. B of Pub. L. 110-289, enacting section 1706f of this title, amending section 1703 of
this title, and enacting provisions set out as notes
under section 1703 of this title] may be cited as the
'FHA Manufactured Housing Loan Modernization Act
of 2008'."
Pub. L. 110-289, div. B, title VIII, §2831, July 30, 2008,
122 Stat. 2867, provided that: "This subtitle [subtitle B
(§§2831-2835) of title VIII of div. B of Pub. L. 110-289, enacting section 1715s of this title and sections 1437z-8
and 11403f-1 of Title 42, The Public Health and Welfare,
amending sections 1701q and 1715r of this title and sections 1437f, 1485, 3545, 11403g, 11403h, 11404, 11405, 11405b,
11406, 11407, and 11407b of Title 42, and enacting provisions set out as a note under section 1715s of this title]
may be cited as the 'Housing Tax Credit Coordination
Act of 2008'."
SHORT TITLE OF 2007 AMENDMENT
Pub. L. 110-37, §1, June 18, 2007, 121 Stat. 229, provided
that: "This Act [amending section 1715z-13a of this
title] may be cited as the 'Native American Home Ownership Opportunity Act of 2007'."
SHORT TITLE OF 2006 AMENDMENT
Pub. L. 109-240, §1, July 10, 2006, 120 Stat. 515, provided that: "This Act [amending section 1715z-7 of this
title] may be cited as the 'Rural Health Care Capital
Access Act of 2006'."
SHORT TITLE OF 2004 AMENDMENT
Pub. L. 108-213, § 1, Apr. 1, 2004, 118 Stat. 571, provided
that: "This Act [amending section 1715k of this title]
may be cited as the 'Energy Efficient Housing Technical Correction Act'."

Page 410

title] may be cited as the 'FHA Multifamily Loan
Limit Adjustment Act of 2003'."
Pub. L. 108-91, §1, Oct. 3, 2003, 117 Stat. 1158, provided
that: "This Act [amending section 1715z-7 of this title
and enacting provisions set out as a note under section
1715z-7 of this title] may be cited as the 'Hospital Mortgage Insurance Act of 2003'."
SHORT TITLE OF 2002 AMENDMENT
Pub. L. 107-326, § 1, Dec. 4, 2002, 116 Stat. 2792, provided
that: "This Act [enacting section 1712a of this title,
amending sections 1709, 1713, 1715e, 1715k, 17151, 1715v,
1715y, 1715z-10, and 1721 of this title, and repealing provisions set out as a note under section 1721 of this title]
may be cited as the 'FHA Downpayment Simplification
Act of 2002'."
SHORT TITLE OF 2000 AMENDMENTS
Pub. L. 106-569, §1(a), Dec. 27, 2000, 114 Stat. 2944, provided that: "This Act [see Tables for classification]
may be cited as the 'American Homeownership and
Economic Opportunity Act of 2000'."
Pub. L. 106-569, title VIII, § 801, Dec. 27, 2000, 114 Stat.
3018, provided that: "This title [amending sections
1701q and 1715z-1 of this title and sections 8013, 13631,
and 13632 of Title 42, The Public Health and Welfare,
and enacting provisions set out as notes under this section and sections 1701q and 1715z-1 of this title] may be
cited as the 'Affordable Housing for Seniors and Families Act'."
Pub. L. 106-281, §1, Oct. 6, 2000, 114 Stat. 865, provided
that: "This Act [amending section 1709 of this title]
may be cited as the 'FHA Downpayment Simplification
Extension Act of 2000'."
SHORT TITLE OF 1999 AMENDMENT
Pub. L. 106-74, title V, § 501(a), Oct. 20, 1999, 113 Stat.
1100, provided that: "This title [enacting section 1701q-2
of this title, amending sections 1701q, 1701q-2, 1715z-1,
1715z-la, 1715z-11a, and 4113 of this title and sections
1437f and 8013 of Title 42, The Public Health and Welfare, enacting provisions set out as notes in sections
1701q and 1715z-1 of this title and section 12701 of Title
42, and amending provisions set out as a note under section 1437f of Title 42] may be cited as the `Preserving
Affordable Housing for Senior Citizens and Families
into the 21st Century Act'."
SHORT TITLE OF 1997 AMENDMENT
Pub. L. 105-65, title V, § 510, Oct. 27, 1997, 111 Stat.
1385, provided that: "This title [enacting section 1437z-1
of Title 42, The Public Health and Welfare, amending
sections 1708, 1715z-1, 1715z-4a, 1715z-19, 17351-14,
1735f-15, 1735f-19, and 4565 of this title, section 1516 of
Title 18, Crimes and Criminal Procedure, section 6103 of
Title 26, Internal Revenue Code, and sections 503, 1437f,
and 1437z of Title 42, enacting provisions set out as
notes under sections 17351-14 and 1735f-15 of this title
and sections 503, 1437f, and 1437z-1 of Title 42, and
amending provisions set out as notes under section
1437f of Title 42] may be cited as the 'Multifamily Assisted Housing Reform and Affordability Act of 1997'."
SHORT TITLE OF 1996 AMENDMENT
Pub. L. 104-120, §1, Mar. 28, 1996, 110 Stat. 834, provided that: "This Act [enacting section 1490p-2 of Title
42, The Public Health and Welfare, amending sections
1715z-20, 1715z-22, and 1721 of this title and sections
1437d, 1437e, 1437n, 1479, 1485, 1490p-2, and 5308 of Title
42, and enacting provisions set out as notes under section 4101 of this title and sections 1437d, 1437f, 5305, and
12805 of Title 42] may be cited as the 'Housing Opportunity Program Extension Act of 1996'."

SHORT TITLE OF 2003 AMENDMENTS

SHORT TITLE OF 1994 AMENDMENT

Pub. L. 108-186, title III, § 302(a), Dec. 16, 2003, 117
Stat. 2692, provided that: "This section [amending sections 1713, 1715e, 1715k, 17151, 1715v, and 1715y of this

Pub. L. 103-233, §1(a), Apr. 11, 1994, 108 Stat. 342, provided that: "This Act [enacting sections 1735f-19 and
1735f-20 of this title and sections 1437x, 3547, 5321, and

Page 411

TITLE 12-BANKS AND BANKING

12840 of Title 42, The Public Health and Welfare, amending sections 1701z-11, 1713, 1715e, 1715k, 1715y, 1715z-la,
1715z-3, and 1735c of this title and sections 1437a, 1437d,
1437f, 1437g, 1437/, 3535, 4852, 5301, 5304, 5305, 5308, 5318,
12704, 12744, 12745, 12750, 12833, 12838, and 12893 of Title
42, enacting provisions set out as notes under sections
1701z-11, 1715n, and 1715z-1a of this title and sections
5301 and 5318 of Title 42, amending provisions set out as
notes under sections 1707 and 1715z-la of this title and
section 3545 of Title 42, and repealing provisions set out
as a note under section 1701z-11 of this title] may be
cited as the 'Multifamily Housing Property Disposition
Reform Act of 1994'."
SHORT TITLE OF 1992 AMENDMENT
Pub. L. 102-550, title V, § 541, Oct. 28, 1992, 106 Stat.
3794, provided that: "This subtitle [subtitle C (§§541-544)
of title V of Pub. L. 102-550, enacting sections 1715z-22
and 1715z-22a of this title] may be cited as the 'Multifamily Housing Finance Improvement Act'."
SHORT TITLE OF 1984 AMENDMENT
Pub. L. 98-440, §1, Oct. 3, 1984, 98 Stat. 1689, provided:
"That this Act [enacting section 77r-1 of Title 15, Commerce and Trade, and amending sections 24, 1451, 1454,
1455, 1464, 1717, 1723, 1723a, 1723c, and 1757 of this title
and sections 78c, 78g, 78h, and 78k of Title 15] may be
cited as the 'Secondary Mortgage Market Enhancement
Act of 1984'."
SHORT TITLE OF 1983 AMENDMENT
Pub. L. 98-181, title I, §1(a), Nov. 30, 1983, 97 Stat. 1155,
provided that: "Titles I through XI of this Act [enacting sections 635i-1, 635i-2, 635o to 635t, 1701g-5b, 1701p-1,
1701r-1, 1701z-10a, 1715z-12 to 1715z-18, and 3901 to 3912 of
this title, section 1671g of Title 19, Customs Duties, sections 276c-3, 283z-3, 285x, 285y, 286b-2, 286e-li, 286y, 286z,
286aa to 286gg, and 290g-12 of Title 22, Foreign Relations
and Intercourse, and sections 1437o to 1437q, 1490k to
14900, and 3542 of Title 42, The Public Health and Welfare, amending sections 635, 635a, 635a-2, 635a-3, 635a-4,
635b, 635e, 635f, 635g, 1437, 1701j-2, 1701j-3, 1701q, 1701s,
1701x, 1701z-1, 1703, 1706d, 1706e, 1707, 1709, 1710, 1713,
1715e, 1715h, 1715k, 1715/, 1715n, 1715u, 1715v, 1715w, 1715y,
1715z, 1715z-1, 1715z-la, 1715z-5, 1715z-6, 1715z-7, 1715z-9,
1715z-10, 1721, 1735, 1735b, 1735c, 1735f-4, 1735f-8, 1735f-9,
1748h-1, 1748h-2, 1749bb, 1749aaa, 1749bbb to 1749bbb-2,
1749bbb-5 to 1749bbb-20, 1812, 2602, 2607, 2614, 2617, 2803,
2807, 2809, 2810, 3202, 3602, 3606, 3609, 3612, 3618, 3620, 3703,
and 3804 of this title, sections 1671a and 1671b of Title
19, sections 262d, 286b, 286c, 286e-2, and 286q of Title 22,
sections 1437a, 1437c, 1437d, 1437f, 1437g, 1437n, 1437/, 1439,
1452, 1452b, 1456, 1471, 1472, 1474, 1476, 1479 to 1481, 1483 to
1487, 1490, 1490a, 1490c, 1490e, 1490f, 1490j, 1500c-2, 2414,
3103, 3936, 4003, 4011 to 4020, 4022 to 4025, 4026, 4027, 4041,
4051 to 4054, 4055, 4056, 4071, 4072, 4081 to 4084, 4101 to
4107, 4121 to 4123, 4127, 4128, 5301, 5302 to 5308, 5312, 5316,
5318, 6872, 8007, 8010, and 8107 of Title 42, and section 2166
of the Appendix to Title 50, War and National Defense,
repealing sections 1709-1, 1720, and 1723e of this title,
section 484b of former Title 40, Public Buildings, Property, and Works, and sections 1482, 1490g, 1490i, 1500c,
3901, 3902 to 3906, 3908, 3909, 3911, 3914, 4511 to 4524, and
4528 to 4532 of Title 42, enacting provisions set out as
notes under sections 635, 635a, 635o, 1701q, 1701z-6, 1709,
1713, 1715z-14, 1720, 2602, 3620, and 3901 of this title, section 484b of former Title 40, and sections 602, 1436a,
1437a, 1437f, 1441, 1472, 1490a, 3901, 4015, 4122, 4518, 5316,
and 5318 of Title 42, amending provisions set out as
notes under section 5301 of Title 42, and repealing provisions set out as notes under sections 1709-1 and 1723 of
this title and sections 1437a and 3901 of Title 42] may be
cited as the 'Domestic Housing and International Recovery and Financial Stability Act'."
Pub. L. 98-181, title I, §1(b), Nov. 30, 1983, 97 Stat. 1155,
provided that: "Titles I through V of this Act [enacting
sections 1701g-5b, 1701p-1, 1701r-1, 1701z-10a, and 1715z-12
to 1715z-18 of this title and sections 1437o to 1437q, 1490k
to 14900, and 3542 of Title 42, The Public Health and

§ 1701

Welfare, amending sections 1701j-2, 1701j-3, 1701q, 1701s,
1701x, 1701z-1, 1703, 1706d, 1706e, 1707, 1709, 1710, 1713,
1715e, 1715h, 1715k, 1715/, 1715n, 1715u, 1715v, 1715w, 1715y,
1715z, 1715z-1, 1715z-la, 1715z-5, 1715z-6, 1715z-7, 1715z-9,
1715z-10, 1721, 1735, 1735b, 1735c, 1735f-4, 1735f-8, 1735f-9,
1748h-1, 1748h-2, 1749bb, 1749aaa, 1749bbb to 1749bbb-2,
1749bbb-5 to 1749bbb-20, 2602, 2607, 2614, 2617, 3602, 3606,
3609, 3612, 3618, 3620, 3703, and 3804 of this title, and sections 1437a, 1437c, 1437d, 1437f, 1437g, 1437n, 1437/, 1439,
1452, 1452b, 1456, 1471, 1472, 1474, 1476, 1479 to 1481, 1483 to
1487, 1490, 1490a, 1490c, 1490e, 1490f, 1490j, 1500c-2, 2414,
3103, 3936, 4003, 4011 to 4020, 4022 to 4025, 4026, 4027, 4041,
4051 to 4054, 4055, 4056, 4071, 4072, 4081 to 4084, 4101 to
4107, 4121 to 4123, 4127, 4128, 5301, 5302 to 5308, 5312, 5316,
5318, 6872, 8007, 8010, and 8107 of Title 42, repealing sections 1709-1, 1720, and 1723e of this title, section 484b of
former Title 40, Public Buildings, Property, and Works,
and sections 1482, 1490g, 1490i, 1500c, 3901, 3902 to 3906,
3908, 3909, 3911, 3914, 4511 to 4524, and 4528 to 4532 of Title
42, enacting provisions set out as notes under sections
1701q, 1701z-6, 1709, 1713, 1715z-14, 1720, 2602, and 3620 of
this title, section 484b of former Title 40, and sections
602, 1436a, 1437a, 1437f, 1441, 1472, 1490a, 3901, 4015, 4122,
4518, 5316, and 5318 of Title 42, amending provisions set
out as notes under section 5301 of Title 42, and repealing provisions set out as notes under sections 1709-1 and
1723 of this title and sections 1437a and 3901 of Title 42]
may be cited as the 'Housing and Urban-Rural Recovery Act of 1983'."
SHORT TITLE OF 1979 AMENDMENT
Pub. L. 96-153, title III, §311(a), Dec. 21, 1979, 93 Stat.
1115, provided that: "This section [amending section
1715z-10 of this title] may be cited as the 'Homeownership Opportunity Act of 1979'."
SHORT TITLE OF 1978 AMENDMENT
Pub. L. 95-630, title VII, § 701, Nov. 10, 1978, 92 Stat.
3687, provided that: "This title [amending section 1730
of this title] may be cited as the 'Change in Savings
and Loan Control Act of 1978'."
SHORT TITLE OF 1977 AMENDMENT
Pub. L. 95-24, §1, Apr. 30, 1977, 91 Stat. 55, provided:
"That this Act [amending sections 1706e, 1715k, 1715/,
1735c, 1749bbb, and 1749bbb-8 of this title and sections
1437c, 1437f, 1437g, and 1451 of Title 42, The Public
Health and Welfare, and enacting provisions set out as
a note under section 1441 of Title 42] may be cited as
the 'Supplemental Housing Authorization Act of 1977'."
SHORT TITLE OF 1976 AMENDMENT
Pub. L. 94-375, §1, Aug. 3, 1976, 90 Stat. 1067, provided
that: "This Act [enacting section 1701z-7 of this title,
amending sections 1464, 1701j-2, 1701q, 1701z-1 to 1701z-3,
1706e, 1713, 1715e, 1715k, 1715/, 1715v, 1715y, 1715z, 1715z-1,
1715z-6, 1715z-9, 1715z-10, 1723, 1723a, 1723e, 1735b, 1735c,
2708, 2709, and 2710 of this title, section 5315 of Title 5,
Government Organization and Employees, section 461
of former Title 40, Public Buildings, Property, and
Works, sections 1437a, 1437c, 1437f, 1437g, 1452b, 1480,
1490, 1490a, 3535, 4056, 4106, 4127, 4521, 5303, 5305, 5307, and
5316 of Title 42, The Public Health and Welfare, enacting provisions set out as notes under sections 1437c and
1723e of this title, section 461 of former Title 40, and
section 1382 of Title 42, and amending provisions set out
as notes under sections 1715e and 1723e of this title]
may be cited as the 'Housing Authorization Act of
1976'."
SHORT TITLE OF 1975 AMENDMENT
Pub. L. 94-13, prec. §1, Apr. 8, 1975, 89 Stat. 68, provided: "That this Act [amending section 1749bbb of this
title and enacting provisions set out as a note under
section 1749bbb of this title] may be cited as the 'National Insurance Development Act of 1975'."
SHORT TITLE OF 1974 AMENDMENT
Pub. L. 93-449, §1, Oct. 18, 1974, 88 Stat. 1364, provided
that: "This Act [enacting section 1723e of this title,

§ 1701

TITLE 12-BANKS AND BANKING

amending sections 34M, 1430, 1464, 1703, and 1709 of this
title, enacting provisions set out as notes under section
1723e of this title, and amending provisions set out as
a note under section 1904 of this title] may be cited as
the 'Emergency Home Purchase Assistance Act of
1974'."
SHORT TITLE OF 1970 AMENDMENTS
Pub. L. 91-609, §1, Dec. 31, 1970, 84 Stat. 1770, provided:
"That this Act [enacting sections 1466a, 1701z-1 to
1701z-4, 1709-2, 1735f-2, 1749bbb-6a, and 1749bbb-10a to
1749bbb-10d of this title; sections 694a and 694b of Title
15, Commerce and Trade; and chapter 59 (§§4501 et seq.
and 4511 et seq.) of Title 42, The Public Health and Welfare; amending sections 371, 1431, 1432, 1464, 1701s, 1701x,
1703, 1712, 1715c, 1715e, 1715h, 1715/, 1715z, 1715z-1, 1715z-3,
1715z-6, 1715z-7, 1717, 1718, 1730a, 1735b to 1735d, 1748h-1,
1748h-2, 1749, 1749bb, 1749cc, 1749aaa, 1749bbb, 1749bbb-2,
1749bbb-7, 1749bbb-8, 1749bbb-11 to 1749bbb-15, 1813, and
1817 of this title; sections 692 to 694 and 1705 of title 15;
section 617 of Title 16, Conservation; section 1014 of
Title 18, Crimes and Criminal Procedure; section 803 of
Title 20, Education; sections 461 and 484b of former
Title 40, Public Buildings, Property, and Works; and
sections 1401, 1402, 1410, 1415, 1421b, 1453, 1456, 1458, 1460,
1465, 1471, 1474, 1478, 1484 to 1487, 1490, 1492, 1500 to
1500d-1, 3108, 3311, 3356, 3533, 3535, 3906, 3907, and 3911 of
Title 42; repealing sections 1701d-3 1701e, and 1701f of
this title and sections 1436, 1452a, 3372, and 3373 of Title
42; enacting provisions set out as notes under section
694a of Title 15, and sections 1402, 1415, 1436, 1453, 1500
and 4501 of Title 42; amending provisions set out as
notes under sections 1701c, 1716b, and 1749bbb of this
title; and repealing provisions set out as notes under
sections 1464 and 1701e of this title and section 1456 of
Title 42] may be cited as the 'Housing and Urban Development Act of 1970'."
Pub. L. 91-351, §1, July 24, 1970, 84 Stat. 450, provided:
"That this Act [enacting sections 1451 to 1459 and
1715z-8 of this title, and section 3941 of Title 42, The
Public Health and Welfare, amending sections 82, 371,
1464, 1709-1, 1715z-3, 1717, 1719, 1720, 1726, 1730a, and 1749
of this title, and section 3906 of Title 42, and enacting
provisions set out as notes under sections 1430, 1451,
1710, and 1715z-8 of this title, and section 1452 of Title
42] may be cited as the 'Emergency Home Finance Act
of 1970'."
SHORT TITLE OF 1969 AMENDMENT
Pub. L. 91-152, §1, Dec. 24, 1969, 83 Stat. 379, provided:
"That this Act [enacting sections 806 and 807 of Title
20, Education, section 484b of former Title 40, Public
Buildings, Property, and Works, and sections 1490d and
4056 of Title 42, The Public Health and Welfare, amending sections 1425, 1464, 1701q, 1701s, 1701u, 1703, 1706d,
1707, 1709, 1709-1, 1713, 1715d, 1715e, 1715h, 1715k, 17157,
1715m, 1715n, 1715v, 1715w, 1715y, 1715z, 1715z-1, 1715z-2,
1715z-3, 1717, 1720, 1727, 1748h-1, 1748h-2, 1749, 1749bb,
1749aaa, 1749bbb-8, 1749bbb-9, and 1749bbb-15 of this
title, section 1702 of Title 15, Commerce and Trade, sections 801 to 805, and 811 of Title 20, section 461 of former
Title 40, sections 1402, 1409, 1410, 1414, 1415, 1421b, 1441c,
1451, 1452, 1452b, 1453, 1455, 1460, 1463, 1466, 1467, 1468,
1468a, 1469b, 1483, 1485, 1487, 1489, 1496, 1500a, 3102, 3108,
3311, 3356, 3371, 3372, 3911, 4001, 4012, 4022, 4102, and 4121,
of Title 42, and sections 1603 and 1604 of Title 49, Transportation, repealing section 1488 of Title 42, and enacting provisions set out as notes under section 1727 of this
title, and section 1402 of Title 42] may be cited as the
`Housing and Urban Development Act of 1969'."
SHORT TITLE OF 1968 AMENDMENTS
Pub. L. 90-448, §1, Aug. 1, 1968, 82 Stat. 476, provided:
"That this Act [enacting sections 1701t to 1701z, 1715z to
1715z-7, 1716b and 1749bbb to 1749bbb-21 of this title, sections 1701 to 1720 of Title 15, Commerce and Trade, and
sections 1417a, 1441a to 1441c, 1468a, 1469 to 1469c, 1490a
to 1490c, 3533a, 3901 to 3914, 3931 to 3940, 4001, 4011 to 4027,
4041, 4051 to 4055, 4071, 4072, 4081 to 4084, 4101 to 4103, and

Page 412

4121 to 4127 of Title 42, The Public Health and Welfare,
amending sections 24, 371, 378, 1431, 1432, 1436, 1464,
1701d-4, 1701q, 1701s, 1703, 1709, 1709-1, 1715c, 1715e, 1715k
to 1715o, 1715q, 1715r, 1715w to 1715y, 1716, 1717 to 1723a,
1723c, 1735c, 1735d, 1748h-2, 1749, 1749b, 1749c, 1749aaa and
1757 of this title, sections 5315 of Title 5, Government
Organization and Employees, sections 633 and 636 of
Title 15, section 709 of Title 18, Crimes and Criminal
Procedure, sections 801, 802 and 805 of Title 20, Education, section 846 of former Title 31, Money and Finance, section 1820 [now 3720] of Title 38, Veterans' Benefits, sections 461, 462 and 612 of former Title 40, Public
Buildings, Property and Works, section 207 of former
Title 40, Appendix, sections 1401, 1402, 1403, 1410, 1415,
1420, 1421b, 1436, 1451, 1452 to 1453, 1455, 1456, 1457, 1460,
1462, 1465 to 1468, 1483, 1484, 1492, 1500a, 1500d, 2414, 3101,
3102, 3104, 3108, 3311, 3331, 3332, 3335, 3336, 3338, 3356, 3372,
3534 and 3535 of Title 42, and sections 1603 to 1605 and
1608 of Title 49, Transportation, repealing sections 1417,
2401 to 2413 and 2415 to 2421 of Title 42, and note set out
under section 2401 of Title 42, and enacting provisions
set out as notes under this section and sections 1701c,
1709, 1709-1, 1715z, 1715z-1, 1716b, 1717, 1721 and 1749bbb of
this title, section 7313 of Title 5, section 1701 of Title 15,
and sections 1417, 1436, 1452, 1469, 3901 and 4001 of Title
42] may be cited as the 'Housing and Urban Development Act of 1968'."
Pub. L. 90-448, title XI, §1101, Aug. 1, 1968, 82 Stat. 555,
provided that: "This title [enacting subchapter IX-C of
chapter 13 of this title and section 3533a of Title 42, The
Public Health and Welfare, amending sections
1701s(c)(2)(E), 1709(h) and 1735d(b) of this title, section
5315 of Title 5, Government Organization and Employees, section 636 of Title 15, and section 1462 of Title 42,
and enacting provisions set out as a note under section
7313 of Title 5] may be cited as the 'Urban Property
Protection and Reinsurance Act of 1968'."
Pub. L. 90-255, §1, Feb. 14, 1968, 82 Stat. 5, provided:
"That this Act [amending section 1730a of this title]
may be cited as the 'Savings and Loan Holding Company Amendments of 1967'."
SHORT TITLE OF 1966 AMENDMENT
Pub. L. 89-429, §1, May 24, 1966, 80 Stat. 164, provided:
"That this act [enacting section 745 of Title 20, Education, amending sections 1717, 1720(c), 1749(d), and
1757(7) of this title, section 1988(c) of Title 7, Agriculture, and section 743(c) of Title 20, and enacting provisions set out as a note under section 1717 of this title
and section 262 of former Title 5, Executive Departments and Government Officers and Employees] may be
cited as the 'Participation Sales Act of 1966'."
SHORT TITLE OF 1965 AMENDMENT
Pub. L. 89-117, §1, Aug. 10, 1965, 79 Stat. 451, provided:
"That this Act [enacting sections 1701s and 1735c to
1735h, and subchapter IX-A of chapter 13 of this title,
subchapter IV-A of chapter 143 of Title 15, Commerce
and Trade, and sections 1421b, 1466 to 1468, 1500c-1,
1500c-2, 1500c-3, and 1487 to 1490, and chapters 36 and 37
of Title 42, The Public Health and Welfare, and provisions set out as notes under sections 1701d-3, 1701q, and
1749 of this title, section 462 of former Title 40, Public
Buildings, Property, and Works, and sections 1451, 1453,
1455, 1460, 1465, 1466, and 3074 of Title 42, amending sections 371, 1464, 1701q, 1701o, 1701h, 1702, 1703, 1706c, 1709,
1710, 1713, 1715, 1715c, 1715e, 1715h, 1715k, 17151, 1715m,
1715n, 1715t, 1715v, 1715w, 1715x, 1715y, 1717, 1718, 1720,
1721, 1727, 1739, 1743, 1744, 1747f, 1747g, 1748b, 1748h,
1748h-1, 1748h-2, 1749, 1749c, 1750, 1750c, and 1750g of this
title, sections 633 and 671 of Title 15, sections 802 and
803 of Title 20, Education, sections 1804 [now 3704] and
1816 [now 3732] of Title 38, Veterans' Benefits, sections
461 and 462 of former Title 40, sections 1402, 1410, 1412,
1415, 1421a, 1422, 1451, 1452, 1452b, 1453, 1455, 1456, 1460,
1463, 1465, 1471, 1472, 1476, 1481, 1482, 1483, 1485, 1492, 1500,
1500a, 1500b, 1500c, 1500d, and 1500e of Title 42, and sections 1605 and 1608 of Title 49, Transportation, and repealing sections 1715j, 1737, 1740, 1747i, 1748a, 1748c, 1750a

Page 413

TITLE 12-BANKS AND BANKING

and 1750d of this title] may be cited as the 'Housing and
Urban Development Act of 1965'."
SHORT TITLE OF 1964 AMENDMENT
Pub. L. 88-560, §1, Sept. 2, 1964, 78 Stat. 769, provided:
"That this act [enacting sections 1730b, 1735a, and 1735b
of this title, sections 801 to 805 and 811 of Title 20, Education, and sections 1452b, 1465, and 1486 of Title 42, The
Public Health and Welfare, amending sections 24, 371,
1430, 1431, 1436, 1464, 1701q, 1703, 1709, 1710, 1713, 1715c,
1715e, 1715k to 1715n, 1715r, 1715u to 1715y, 1717, 1719 to
1721, 1723b, 1723c, 1726, 1739, 1748h-2, 1749c, and 1750c of
this title, sections 636 and 637 of Title 15, Commerce
and Trade, sections 1820 and 1823 of Title 38, Veterans'
Benefits, sections 461 and 462 of former Title 40, Public
Buildings, Property and Works, and sections 1402, 1410,
1415, 1436, 1451, 1452, 1452a, 1453, 1455, 1456, 1457, 1460, 1476,
1481 to 1483, 1485, 1492, 1500a, and 1504a of Title 42, and
enacting provisions set out as notes under section 1713
of this title, section 461 of former Title 40, and sections
1415, 1451, 1455, 1460, and 1465 of Title 42] may be cited
as the 'Housing Act of 1964'."
SHORT TITLE OF 1962 AMENDMENT
Pub. L. 87-723, §1, Sept. 28, 1962, 76 Stat. 670, provided:
"That this Act [enacting section 1701r of this title and
section 1485 of Title 42, The Public Health and Welfare,
and amending sections 84 and 1701q of this title and sections 1471, 1472, 1474, 1476 and 1481 of Title 42] may be
cited as the 'Senior Citizens Housing Act of 1962.' "
SHORT TITLE OF 1961 AMENDMENT
Pub. L. 87-70, §1, June 30, 1961, 75 Stat. 149, provided:
"That this Act [enacting sections 1715x and 1715y of
this title and sections 1436, 1484, 1497 and 1500 to 1500e
of Title 42, The Public Health and Welfare, amending
sections 371, 1464, 1701c, 1701q, 1703, 1709, 1710, 1713, 1715,
1715c, 1715e, 1715h, 1715j, 1715k, 17151, 1715n, 1715o, 1715q,
1715r, 1715t, 1715v, 1715w, 1717, 1718, 1719, 1720, 1721, 1723a,
1723b, 1748b, 1748h-2, 1749, 1749b, 1749c, and 1750jj of this
title, section 631, 633 and 636 of Title 15, Commerce and
Trade, sections 461 and 462 of former Title 40, Public
Buildings, Property, and Works, and sections 1402, 1410,
1415, 1421, 1421a, 1434, 1451, 1452, 1453, 1454, 1455, 1456, 1457,
1460, 1463, 1471, 1472, 1476, 1477, 1478, 1481, 1482, 1483, 1491,
1492, 1493, and 1594i of Title 42, and amending provisions
set out as a note under section 1592c of Title 42] may be
cited as the 'Housing Act of 1961'."
SHORT TITLE OF 1959 AMENDMENT
Pub. L. 86-372, §1, Sept. 23, 1959, 73 Stat. 654, provided:
"That this Act [enacting sections 1701q, 1715t to 1715w,
and 1748-2 of this title, and section 1463 of Title 42, The
Public Health and Welfare, amending sections 24, 1464,
1703, 1706c, 1709, 1710, 1713, 1715c to 1715e, 1715h,
1715k-1715m, 1715r, 1717, 1719 to 1721, 1723b, 1731a, 1747,
1748b, 1748g, 1748h-1, 1749, 1749a, 17490, and 1750jj of this
title, sections 461 and 462 of former Title 40, Public
Buildings, Property and Works, and sections 1401, 1402,
1410, 1415, 1450, 1451, 1452, 1453, 1455, 1456, 1457, 1460, 1586,
1594a and 1594j of Title 42, repealing section 1715i of this
title, and enacting provisions set out as notes under
sections 1720 and 1721 of this title and under sections
1456, 1460, 1476 and 1592c of Title 42] may be cited as the
`Housing Act of 1959'."
SHORT TITLE OF 1956 AMENDMENT
Act Aug. 7, 1956, ch. 1029, §1, 70 Stat. 1091, provided:
"That this Act [enacting sections 1701d-3 and 1701h-1,
of this title and sections 1462, 1496, 1589d, and 1594f of
Title 42, The Public Health and Welfare; amending sections 1464, 1703, 1709, 1713, 1715e, 1715h, 1715k, 1715/, 1715r,
1717 to 1721, 1748, 1748b and 1749 of this title; section 6947
of former Title 38, Pensions, Bonuses, and Veterans'
Relief; section 461 of former Title 40, Public Buildings,
Property, and Works; and sections 1402, 1410, 1412, 1415,
1421, 1451, 1452, 1454, 1455, 1456, 1460, 1481 to 1483, 1594,
1594a, 1594b, 1594c of Title 42; repealing section 1411b of
Title 42; and enacting provisions set out as notes under

§ 1701

section 1703 of this title and under sections 1481, 1592c
and 1594 of Title 42] may be cited as the 'Housing Act
of 1956'."
SHORT TITLE OF 1955 AMENDMENT
Act Aug. 11, 1955, ch. 783, §1, 69 Stat. 635, provided:
"That this Act [enacting section 1701d-2 of this title
and sections 1491 to 1495 and 1594 to 1594e of Title 42,
The Public Health and Welfare; amending sections 1426,
1427, 1437, 1464, 1703, 1710, 1713, 1715e, 1715h, 1715k, 17151,
1715n, 1715r, 1720, 1726, 1729, 1739, 1748 to 1748g, 1749, 1749c
of this title; section 462 of former Title 40, Public Buildings, Property, and Works; sections 1410, 1451, 1453, 1456,
1460, 1481 to 1483, 1585 and 1591c of Title 42; and sections
480, 480a, 721, 721a, 910, 910a, 1408, 1408b, and 1408c of
Title 48, Territories and Insular Possessions; repealing
sections 1748g-1 and 1748h of this title; and enacting
provisions set out as notes under sections 1426, 1715e,
and 1749 of this title; section 1594 of Title 42; and under
sections 480 and 1408 of Title 48] may be cited as the
`Housing Amendments of 1955'."
Act Aug. 11, 1955, ch. 783, title DI, §304, 69 Stat. 646,
provided that the amendments to sections 1749 and
1749c of this title by act Aug. 11, 1955, may be cited as
the "College Housing Amendments of 1955".
SHORT TITLE OF 1954 AMENDMENT
Act Aug. 2, 1954, ch. 649, §1, 68 Stat. 590, provided:
"That this Act [enacting sections 1701j-1, 1701n to 1701p,
1702a, 1715k to 1715s, 1722 to 1723d, 1731a, 1731b, 1746a and
1750aa to 1750jj of this title; sections 460 to 462 of former
Title 40, Public Buildings, Property, and Works; and
sections 1411d, 1434, 1435, 1446, 1450, 1452a, 1455a, and
1589c of Title 42, The Public Health and Welfare;
amending sections 24, 1430, 1431, 1436, 1464, 1701, 1703,
1706c, 1709, 1710, 1711, 1713, 1715c, 1715e, 1715h, 1715j, 1716,
1717 to 1721, 1725, 1728, 1729, 1730, 1748b, 1749, 1750b, 1750c
and 1750g of this title; section 709 of Title 18, Crimes
and Criminal Procedure; section 272 of Title 20, Education; section 694a of former Title 38, Pensions, Bonuses, and Veterans' Relief; section 459 of former Title
40; and sections 1407, 1410, 1415, 1416, 1451, 1452, 1453, 1454,
1455, 1456, 1457, 1459, 1460, 1481 to 1483, 1585, 1587, 1591c
and 1592a of Title 42; repealing sections 1701j, 1706,
1716-1 and 1716a of this title; section 456 of former Title
40; sections 1451a, 1461 and 1551 of Title 42; and sections
484e, '724, and 1426 of Title 48, Territories and Insular
Possessions; and enacting provisions set out as notes
under sections 1703, 1710, 1715n, 1715s, and 1716 of this
title; section 846 of former Title 31, Money and Finance;
and under sections 1434, 1446, and 1450 of Title 42] may
be cited as the 'Housing Act of 1954'."
Act June 27, 1934, title III, §312, as added Aug. 2, 1954,
ch. 649, § 201, 68 Stat. 622, provided that: "This title III
[enacting sections 1722 to 1723c of this title and amending sections 1716 to 1721 of this title] may be referred to
as the 'Federal National Mortgage Association Charter
Act'."
SHORT TITLE OF 1953 AMENDMENT
Act June 30, 1953, ch. 170, §1, 67 Stat. 121, provided:
"This Act [enacting sections 1715j and 1735 of this title,
and sections 723 and 1425 of Title 48, Territories and Insular Possessions; amending sections 1701j, 1706c(b),
1709, 1711(c)(i), 1715d, 1715e(d), 1715h, 1716(a), 1716-1, 1717,
1748b(a), (b), 1749(a), 1750b(a), and 1750g(b) of this title,
sections 1402(10), 1456(e), 1460(g), 1591(a), 1591c, 1592d(c),
and 1592n(e) of Title 42, The Public Health and Welfare,
and section 2166(c) of the Appendix to Title 50, War and
National Defense; and enacting provisions set out as a
note under section 1463 of this title, relating to dissolution and abolishment of the Home Owners' Loan Corporation] may be cited as the 'Housing Amendments of
1953'."
SHORT TITLE OF 1952 AMENDMENT
Act July 14, 1952, ch. 723, §1, 66 Stat. 601, provided
that: "This Act [enacting sections 1701m, 1706d, and
1715i of this title and amending sections 1422, 1423, 1464,

1701a

TITLE 12-BANKS AND BANKING

1466, 1701g-2, 1707, 1713, 1715d, 1715h, 1716, 1717, 1726, 1736,
1745, 17471, 1748, and 1750b of this title; sections 1481 to
1483, 1589a, 1592a, 15921, and 1593 of Title 42, The Public
Health and Welfare; and sections 484 and 484d of Title
48, Territories and Insular Possessions] may be cited as
the 'Housing Act of 1952'."
SHORT TITLE OF 1950 AMENDMENT
Act Apr. 20, 1950, ch. 94, §1, 64 Stat. 48, provided that
"This Act [enacting sections 1701j to 17011, 1715e, 1715f,
and 1749 to 1749c of this title and sections 1581 to 1589
and 1590 of Title 42, The Public Health and Welfare;
amending sections 371, 1430, 1701c, 1703, 1705, 1706, 1706b,
1706c, 1707 to 1709, 1710 to 1715, 1715b, 1715c, 1716, 1717,
1720, 1721, 1736 to 1746, 1747 to 1747c, and 1747e to 17471 of
this title, section 1017 of Title 7, Agriculture, section
604 of Title 15, Commerce and Trade, and sections 1412,
1521 to 1524, 1532, 1533, 1542 to 1548, 1552, 1553, 1561, 1571,
1572, and 1575 of Title 42; and enacting provisions set
out as notes under sections 1701, 1701k, 1703, and 1709 of
this title, section 1017 of Title 7, and section 1412 of
Title 42] may be cited as the 'Housing Act of 1950'."
SHORT TITLE OF 1948 AMENDMENT
Act Aug. 10, 1948, ch. 832, §1, 62 Stat. 1268, provided
that: "This Act [enacting sections 1701c, 1701e to
1701g-3, 1702, 1703, 1709, 1710, 1713, 1716, 1738, 1743 to 1746,
and 1747 to 17471 of this title; section 846 of former Title
31, Money and Finance; section 694 of former Title 38,
Pensions, Bonuses, and Veterans' Relief; and section
1404a of Title 42, The Public Health and Welfare] may
be cited as the 'Housing Act of 1948'."
REGULATIONS
Pub. L. 106-569, title VIII, §802, Dec. 27, 2000, 114 Stat.
3018, provided that: "The Secretary of Housing and
Urban Development (referred to in this title as the
`Secretary') shall issue any regulations to carry out
this title [see section 801 of Pub. L. 106-569, set out as
a Short Title of 2000 Amendment note above] and the
amendments made by this title that the Secretary determines may or will affect tenants of federally assisted housing only after notice and opportunity for
public comment in accordance with the procedure
under section 553 of title 5, United States Code, applicable to substantive rules (notwithstanding subsections
(a)(2), (b)(B), and (d)(3) of such section). Notice of such
proposed rulemaking shall be provided by publication
in the Federal Register. In issuing such regulations,
the Secretary shall take such actions as may be necessary to ensure that such tenants are notified of, and
provided an opportunity to participate in, the rulemaking, as required by such section 553."
SAVINGS PROVISION
Pub. L. 110-289, div. B, title I, § 2131, July 30, 2008, 122
Stat. 2843, provided that: "Any mortgage insured under
title II of the National Housing Act [12 U.S.C. 1707 et
seq.] before the date of enactment of this subtitle [July
30, 2008] shall continue to be governed by the laws, regulations, orders, and terms and conditions to which it
was subject on the day before the date of the enactment of this subtitle."
IMPLEMENTATION
Pub. L. 110-289, div. B, title I, § 2132, July 30, 2008, 122
Stat. 2843, provided that: "The Secretary of Housing
and Urban Development shall by notice establish any
additional requirements that may be necessary to immediately carry out the provisions of this subtitle [subtitle A (§§2111-2133) of title I of div. B of Pub. L. 110-289,
see Short Title of 2008 Amendment note above]. The notice shall take effect upon issuance."
PREFERENCES FOR NATIVE HAWAIIANS ON HAWAIIAN
HOME LANDS UNDER HUD PROGRAMS
Secretary of Housing and Urban Development to provide a preference to native Hawaiians for housing as-

Page 414

sistance programs under this chapter for housing located on Hawaiian home lands, see section 958 of Pub.
L. 101-625, set out as a note under section 1437f of Title
42, The Public Health and Welfare.
LIMITATION ON WITHHOLDING OR CONDITIONING OF
ASSISTANCE
Assistance provided for in Housing and Community
Development Act of 1974, National Housing Act, United
States Housing Act of 1937, Housing Act of 1949, Demonstration Cities and Metropolitan Development Act of
1966, and Housing and Urban Development Acts of 1965,
1968, 1969, and 1970 not to be withheld or made subject
to conditions by reason of tax-exempt status of obligations issued or to be issued for financing of assistance,
except as otherwise provided by law, see section 817 of
Pub. L. 93-383, set out as a note under section 5301 of
Title 42, The Public Health and Welfare.
§ 1701a. Short title of amendment of 1938
The Act of February 3, 1938, ch. 13, 52 Stat. 8,
may be cited as the "National Housing Act
Amendments of 1938."
(Feb. 3, 1938, ch. 13, §1, 52 Stat. 8.)
REFERENCES IN TEXT
The National Housing Act Amendments of 1938, referred to in text, enacted sections 1715a, 1715b, and 1733
of this title and amended sections 24, 1703, 1707 to 1709,
1710 to 1715, 1716, 1717, 1718, and section 1731 [see sections 433, 493, 657, 1006, and 1008 to 1010 of Title 18,
Crimes and Criminal Procedure] of this title.
CODIFICATION
Section was enacted as part of the National Housing
Act Amendments of 1938, and not as part of the National Housing Act which comprises this chapter.
§ 1701b. Short title of amendment of 1942
The Act of May 26, 1942, ch. 319, 56 Stat. 301,
may be cited as the "National Housing Act
Amendments of 1942".
(May 26, 1942, ch. 319, §15, 56 Stat. 305.)
REFERENCES IN TEXT
The National Housing Act Amendments of 1942, referred to in text, enacted section 1743 of this title,
amended heading of subchapter VI of this chapter [preceding section 1736 of this title], amended sections 1703,
1715c, 1737, 1738, 1739, and 1740 of this title, and enacted
provisions set out as a note under section 1743 of this
title.
CODIFICATION
Section was enacted as part of the National Housing
Act Amendments of 1942, and not as part of the National Housing Act which comprises this chapter.
§ 1701c. Secretary of Housing and Urban Development
In carrying out his functions, powers, and duties(a) Employment of personnel; delegation of functions
The Secretary of Housing and Urban Development may appoint such officers and employees
as he may find necessary, which appointments
shall be subject to the civil-service laws and
chapter 51 and subchapter III of chapter 53 of
title 5. The Secretary may make such expenditures as may be necessary to carry out his functions, powers, and duties, and there are author-

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