Sec. 610. FHA-related conforming amendments

577 words·~3 min read·/bill/115/hr/6746/ih/section-610

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Paragraph

(1)of section 912 of the Housing and Urban Development Act of 1970 ( 12 U.S.C. 1709–2(1) ) is amended by inserting or Federal Housing Administration after Housing and Urban Development . Section 819 of the Housing and Community Development Act of 1974 ( 12 U.S.C. 1701l–1 ) is amended— by inserting or the Federal Housing Administration after Secretary of Housing and Urban Development ; and by inserting or such Administration, as appropriate, before has reason . Section 421 of the Housing and Community Development Act of 1987 ( 12 U.S.C. 1715z–4a ) is amended— in subsection (a)— in paragraph (1)— by inserting or the FHA, as applicable, after Secretary’) ; by inserting or by the FHA pursuant to title II of the after Protecting American Taxpayers and Homeowners Act of 2018 National Housing Act ; and in the last sentence, by inserting or the FHA after Secretary each place such term appears; in paragraph (2), by inserting or title II of the before the first comma; and Protecting American Taxpayers and Homeowners Act of 2018 in subsections

(b)through (e)— by inserting or the FHA, as applicable, after Secretary, each place such term appears; and by inserting or the FHA, as applicable, after Secretary each place such term appears (except the penultimate occurrence in subsection (c)). The Single Family Mortgage Foreclosure Act of 1994 ( 12 U.S.C. 3751 et seq.) is amended— in section 802(b)(1) ( 12 U.S.C. 3751(b)(1) ), by inserting or by the FHA pursuant to subtitle B of title V of the before the semicolon; Protecting American Taxpayers and Homeowners Act of 2018 in section 803(10)(A) ( 12 U.S.C. 3752(10)(A) )— in subparagraph (A), by striking or at the end; by redesignating subparagraph

(B)as subparagraph (C); and by inserting after subparagraph

(A)the following new subparagraph: is held by the FHA pursuant to subtitle B of title V of the Protecting American Taxpayers and Homeowners Act of 2018 ; or ; and by adding at the end the following new section: After the expiration of the transition period under section 551 of the Protecting American Taxpayers and Homeowners Act of 2018 , any reference in sections 804 through 819 of this Act to the Secretary shall be considered to also refer to the FHA (as established pursuant to subtitle B of title V of such Act), but only with respect to single family mortgages described in section 803(10)(B). . The Multifamily Mortgage Foreclosure Act of 1981 ( 12 U.S.C. 3701 et seq.) is amended— in section 363(2) ( 12 U.S.C. 3702(2) ), by adding after and below subparagraph

(E)the following: Such term includes a mortgage on a property consisting of 5 or more dwelling units that is held by the FHA pursuant to subtitle B of title V of the Protecting American Taxpayers and Homeowners Act of 2018 . . by adding at the end the following new section: After the expiration of the transition period under section 551 of the Protecting American Taxpayers and Homeowners Act of 2018 , any reference in sections 364 through 369I of this Act to the Secretary shall be considered to also refer to the FHA (as established pursuant to subtitle B of such Act), but only with respect to multifamily mortgages described in the last sentence of section 363(2). . The amendment made by this section shall be made, and shall apply beginning on, the expiration of the transition period under section 551.

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