§ 3801. Findings and purpose
426 words·~2 min read·
/usc/title-12/section-3801A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)The Congress hereby finds that—
(1)increasingly volatile and dynamic changes in interest rates have seriously impared 1 the ability of housing creditors to provide consumers with fixed-term, fixed-rate credit secured by interests in real property, cooperative housing, manufactured homes, and other dwellings;
(2)alternative mortgage transactions are essential to the provision of an adequate supply of credit secured by residential property necessary to meet the demand expected during the 1980’s; and
(3)the Comptroller of the Currency, the National Credit Union Administration, and the Director of the Office of Thrift Supervision have recognized the importance of alternative mortgage transactions and have adopted regulations authorizing federally chartered depository institutions to engage in alternative mortgage financing.
(b)It is the purpose of this chapter to eliminate the discriminatory impact that those regulations have upon nonfederally chartered housing creditors and provide them with parity with federally chartered institutions by authorizing all housing creditors to make, purchase, and enforce alternative mortgage transactions so long as the transactions are in conformity with the regulations issued by the Federal agencies.
(Pub. L. 97–320, title VIII, § 802, Oct. 15, 1982, 96 Stat. 1545; Pub. L. 101–73, title VII, § 744(c), Aug. 9, 1989, 103 Stat. 438.)
Connections66 cite this
Cited by 66 sections · top 38
U.S. Code
statute-compilations
register
- NoticesFinal rule; official interpretations
- NoticesRequest for information
- NoticesFinal rule
- Rules and RegulationsFinal rule
- Rules and RegulationsProposed rule with request for public comment
- Proposed RulesNotice of proposed rulemaking
- NoticesProposed rule with request for public comment
- Proposed RulesAdvance notice of proposed rulemaking
- NoticesInterim final rule with request for public comment
statutes-at-large
- Public Law 97–320To revitalize the housing industry by strengthening the financial stability of home mortgage lending institutions and ensuring the availability of home mortgage loans
- Public Law 111–203To promote the financial stability of the United States by improving accountability and transparency in the financial system, to end “too big to fail”, to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes
bill
- Sec. 16Conforming corrections to other statutes
- Sec. 815Conforming corrections to other statutes
- Sec. 999FConforming corrections to other statutes
- Sec. 999FConforming corrections to other statutes
- Sec. 711Consumer Law Enforcement Agency
- Sec. 1212Technical corrections to other statutes
- Sec. 711Consumer Law Enforcement Agency
- Sec. 1212Technical corrections to other statutes
- Sec. 711Consumer Law Enforcement Agency
- Sec. 1212Technical corrections to other statutes
- Sec. 4Conforming amendments
- Sec. 4Conforming amendments
- Sec. 4Conforming amendments
- Sec. 4Conforming amendments
- Sec. 4Conforming amendments
- Sec. 2Consumer Financial Empowerment Agency
- Sec. 2Consumer Financial Empowerment Agency
10 references not yet in our index
- 1
- Pub. L. 97–320, title VIII, § 802
- 96 Stat. 1545
- Pub. L. 101–73, title VII, § 744(c)
- 103 Stat. 438
- Pub. L. 101–73
- Pub. L. 97–320, title VIII, § 807(a)
- 96 Stat. 1548
- Pub. L. 97–320, title VIII, § 801
- Pub. L. 97–320, title VIII, § 807(b)
Citation graph
cites case law
§ 3801
Findings and purpose
Bills×24
Fed. Reg.×24
U.S.C.×7
Stat.×6
Stat. Comp.×4
C.F.R.×1
Cite1
Pub. L.Pub. L. 97–320, title VIII, § 802
Stat.96 Stat. 1545
Pub. L.Pub. L. 101–73, title VII, § 744(c)
Stat.103 Stat. 438
Cites 10 · showing 5Cited by 66 across 6 sources