The Corporation May Hold" For "

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Each modification shall be made by contributing to each such amount (as it might have been previously changed) a portion thereof equal to the percentage boost, during the most recent 12-month or 4-quarter duration ending before the time of determining such annual adjustment, in the housing rate index maintained by the Director of the Federal Housing Finance Agency (pursuant to section 4542 of this title). If the modification in such home rate index during the most recent 12-month or 4-quarter duration ending before the time of figuring out such annual change is a decrease, then no modification shall be produced the next year, and the next change will take into consideration prior declines in your house rate index, so that any change shall show the net change in your house rate index considering that the last modification. Declines in your home price index shall be collected and after that reduce increases up until subsequent boosts surpass prior decreases." for "Such constraints shall not exceed $93,750 for a mortgage secured by a single-family house, $120,000 for a mortgage protected by a two-family home, $145,000 for a mortgage secured by a three-family home, and $180,000 for a mortgage protected by a four-family home, other than that such optimum constraints will be adjusted reliable January 1 of each year beginning with 1981. Each such modification will be made by contributing to each such amount (as it might have been previously changed) a portion thereof equal to the portion increase throughout the twelve-month period ending with the previous October in the national typical one-family house rate in the regular monthly survey of all major lenders carried out by the Federal Housing Finance Board." and inserted last sentence.


1998-Subsec. (a)( 2 ). Pub. L. 105-276, § 582(a)( 14 ), struck out penultimate sentence which checked out as follows: "With regard to mortgages protected by residential or commercial property comprising 5 or more family home systems, such limitations shall not surpass 125 per centum of the dollar amounts set forth in section 207(c)( 3) of the National Housing Act, except that such restrictions may be increased by the Corporation (considering building and construction costs) to not to exceed 240 per centum of such dollar quantities in any geographical location for which the Secretary of Housing and Urban Development figures out under such area that cost levels require any increase in the dollar quantity limitations under such section."


Pub. L. 105-276, § 202(a), which directed the modification of the first sentence of par. (2) by starting out "or" at end of cl. (B) and replacing "; or (D) the mortgage is subject to default loss defense that the Corporation determines is economically equal or exceptional, on a specific or pooled basis, to the protection provided by stipulation (C) of this sentence: Provided, That if the Director of the Office of Federal Housing Enterprise Oversight subsequently discovers that such default loss security figured out by the Corporation does not provide such equivalent or exceptional protection, the Corporation shall supply such extra default loss security for such mortgage, as approved by the Director of the Office of Federal Housing Enterprise Oversight, necessary to supply such equivalent or exceptional protection." for the period at end, was reversed by Pub. L. 105-277, reliable upon enactment of Pub. L. 105-276.


1992-Subsec. (a)( 1 ). Pub. L. 102-550, § 1382(j), in first sentence, substituted a duration for "from any Federal mortgage bank, the Resolution Trust Corporation, the Federal Deposit Insurance Corporation, the National Credit Union Administration, any member of a Federal mortgage bank, or any other banks the deposits or accounts of which are guaranteed by an agency of the United States, or from any financial organization the deposits or accounts of which are insured under the laws of any State if the total amount of time and savings deposits held in all such organizations in that State is more than 20 per centum of the overall amount of such deposits in all banks, building and loan, cost savings and loan, and homestead associations (consisting of cooperative banks) in that State or from any mortgagee authorized by the Secretary of Housing and Urban Development for participation in any mortgage insurance program under the National Housing Act or from any utility performing activities in accordance with the requirements of title II of the National Energy Conservation Policy Act if the domestic mortgage to be acquired is a loan or advance of credit the original earnings of which are requested in order to finance the purchase and setup of residential energy conservation measures (as specified in area 210( 11) of the National Energy Conservation Policy Act) in residential genuine estate." and in 2nd sentence, replaced a period for ", and the servicing on any such mortgage might be carried out by the seller or by a banks certified as a seller under the provisions of the preceding sentence, or by a mortgagee approved by the Secretary of Housing and Urban Development for participation in any mortgage insurance coverage program under the National Housing Act, with which organization or the seller may contract."


Subsec. (a)( 2 ). Pub. L. 102-550, § 1382(k), replaced "Hawaii, and the Virgin Islands" for "and Hawaii" in last sentence.


Subsec. (c). Pub. L. 102-550, § 1382(l), (m), added subsec. (c) and set out previous subsec. (c) which read as follows: "The Board of Directors may not impose any annual restriction on the maximum aggregate principal quantity of mortgages acquired by the Corporation."


1989-Subsec. (a)( 1 ). Pub. L. 101-73, § 731(e)( 1 ), (f)( 2 )(A), substituted "Resolution Trust Corporation" for "Federal Savings and Loan Insurance Corporation" and inserted at end "Nothing in this area authorizes the Corporation to enforce any charge or cost upon any mortgagee authorized by the Secretary of Housing and Urban Development for participation in any mortgage insurance coverage program under the National Housing Act entirely due to the fact that of such status."


Subsec. (a)( 2 ). Pub. L. 101-73, § 731(f)( 2 ), replaced "Resolution Trust Corporation" for "Federal Savings and Loan Insurance Corporation" and "Federal Housing Finance Board" for "Federal Mortgage Bank Board".


Subsec. (a)( 5 ). Pub. L. 101-73, § 731(e)( 2 ), added par. (5 ).


Subsec. (b). Pub. L. 101-73, § 731(f)( 2 )(A), replaced "Resolution Trust Corporation" for "Federal Savings and Loan Insurance Corporation".


1988-Subsec. (a)( 4 )(A)(i). Pub. L. 100-242, § 443(b), struck out "through March 15, 1988," before "residential mortgages".


Subsec. (a)( 4 )(A)(ii). Pub. L. 100-628 struck out "till October 1, 1985," before "residential mortgages".


Subsec. (c). Pub. L. 100-242, § 445, included subsec. (c).


1987-Subsec. (a)( 4 )(A)(i). Pub. L. 100-200 replaced "March 15, 1988" for "December 16, 1987".


Pub. L. 100-179 substituted "December 16, 1987" for "December 2, 1987".


Pub. L. 100-170 substituted "December 2, 1987" for "November 15, 1987".


Pub. L. 100-154 substituted "November 15, 1987" for "October 31, 1987".


Pub. L. 100-122 substituted "through October 31, 1987" for "up until October 1, 1987".


1984-Subsec. (a)( 2 ). Pub. L. 98-440, § 205(b), which directed insertion of "secured by a residential or commercial property comprising one- to four-family residence systems" after "mortgages" where very first appearing in very first sentence was carried out by placing that expression after "No conventional mortgage" as the probable intent of Congress.


Pub. L. 98-440, § 201(b), substituted "The Corporation will establish constraints governing the maximum initial principal commitment of standard mortgages that are purchased by it; in any case in which the Corporation purchases an involvement interest in such a mortgage, the restriction will be computed with respect to the overall initial primary commitment of the mortgage and not merely with regard to the interest bought by the Corporation" for "The Corporation shall establish constraints governing the optimum primary responsibility of standard mortgages purchased by it".


Pub. L. 98-440, § 206(b), inserted arrangement that the constraints stated in area 1713(c)( 3) of this title might be increased by the Corporation (taking into account construction costs) to not to go beyond 240 per centum of such dollar amounts in any geographical location for which the Secretary of Housing and Urban Development figures out under such section that expense levels needed any boost in the dollar amount limitations under such area.


Subsec. (a)( 4 ). Pub. L. 98-440, § 203(b)( 2 ), added par. (4 ).


1981-Subsec. (a)( 1 ). Pub. L. 97-110, § 203, included the Federal Deposit Insurance Corporation and the National Cooperative Credit Union Administration to the enumeration of agencies from which the Federal Mortgage Mortgage Corporation is licensed to acquire property mortgages.


Subsec. (a)( 2 ). Pub. 97-110, § 202(a), replaced provisions licensing the Corporation to buy a traditional mortgage which was stemmed more than one year prior to the purchase date just if the seller is the Federal Deposit Insurance Corporation, the Federal Savings and Loan Insurance Corporation, the National Cooperative Credit Union Administration, or any other seller currently engaged in mortgage lending or investing activities for provisions which had licensed the Corporation to buy a conventional mortgage which was originated more than one year prior to the purchase date just if the seller was currently participated in mortgage financing or investing activities and if, as a result thereof, the cumulative aggregate of the primary balances of all conventional mortgages bought by the Corporation which were come from more than one year prior to the date of purchases did not go beyond 20 per centum of the cumulative aggregate of the principal balances of all standard mortgages purchased by the Corporation.


Pub. L. 97-110, § 202(b)( 1 ), placed provision that, with respect to any deal in which a seller contemporaneously offers mortgages stemmed more than one year old prior to the date of sale to the Corporation and receives in payment for such mortgages securities representing undivided interests only in those mortgages, the Corporation shall not enforce any fee or charge upon a qualified seller which is not a member of a Federal Mortgage Bank which varies from that enforced upon a qualified seller which is such a member.


Subsec. (b). Pub. L. 97-110, § 203, added the Federal Deposit Insurance Corporation and the National Credit Union Administration to the enumeration of agencies having the authority to get in into and to perform and carry out deals and matters described in this section.


1980-Subsec. (a)( 1 ). Pub. L. 96-294 placed arrangements associating with public energies bring out activities in accordance with the requirements of title II of the National Energy Conservation Policy Act.


Subsec. (a)( 2 ). Pub. L. 96-399 inserted provisions stating limitations respecting mortgages protected by a single-family house, etc, and set out provisions making the limitations set forth in first proviso of very first sentence of section 1464(c) of this title.


1978-Subsec. (a)( 1 ). Pub. L. 95-557 inserted referral to any mortgagee approved by the Secretary of Housing and Urban Development at end of very first sentence, and placed last five sentences associating with imposition of charges or fees for different classes of sellers or servicers, and so on 1977-Subsec. (a)( 2 ). Pub. L. 95-128 placed "by more than 25 per centum" after "surpass" in last sentence.


1974-Subsec. (a)( 1 ). Pub. L. 93-495 inserted provisions associating with State insurance coverage of deposits or accounts in banks.


Pub. L. 93-383, § 805(a), replaced ". The Corporation may hold" for ", and to hold" and inserted provisions relating to the servicing of any such mortgage by the seller or certified monetary institution.


Subsec. (a)( 2 ). Pub. L. 93-383, § 805(b), replaced "80" for "75" in two locations and "not surpass 20" for "not surpass 10", struck out "private" before "insurer" in cl. (C), and substituted provisions relating to constraints contained in very first proviso of very first sentence of area 1464(c) of this title, for arrangements associating with constraints suitable if the mortgage were guaranteed by the Secretary under area 1709(b) or 1713 of this title.