Sec. 7. Authority to terminate FHA mortgagee origination and underwriting approval
120 words·~1 min read·
/bill/113/hr/1145/ih/section-7·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 533 of the National Housing Act (12 U.S.C. 1735f–11) is amended— in the first sentence of subsection (b), by inserting or areas or on a nationwide basis after area each place such term appears; and in subsection (c), by striking
(c)and all that follows through The Secretary in the first sentence of paragraph
(2)and inserting the following: If the Secretary determines, under the comparison provided in subsection (b), that a mortgagee has a rate of early defaults and claims that is excessive, the Secretary may terminate the approval of the mortgagee to originate or underwrite single family mortgages for any area, or areas, or on a nationwide basis, notwithstanding section 202(c) of this Act. The Secretary .
Connections1 off-index
1 reference not yet in our index
- 12 USC 1735f–11
Citation graph
cites case law
Sec. 7
Authority to terminate FHA mortgagee origination and underwriting approval
Cite12 USC 1735f–11
Cites 1Cited by 0 across 0 sources