§ 2705. Emergency mortgage relief payments

Footnotes

1. 1 See References in Text note below.

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1975

   Pub. L. 94–50 title I § 106 · 89 Stat. 249

   Enacted · 12 U.S.C. § 2705

   (Pub. L. 94–50, title I, § 106, July 2, 1975, 89 Stat. 251.)

   Source evidence

   Code source credit
   (Pub. L. 94–50, title I, § 106, July 2, 1975, 89 Stat. 251.)

   Enacted provision · exact public law section
   Sec. 106. emergency mortgage relief payments (a) In the case of any mortgagee which would otherwise 12 USC 2705. be eligible to participate in the program authorized under section 105 but does not qualify for an advance or advances as authorized by section 113 of this title or under section 10,10b, or 11 of the Federal I Tome Loan Bank Act or otherwise elects not to participate in the program 12 USC 1430, 1430b, 1431. authorized under section 105, the Secretary is authorized to make repayable emergency mortgage relief payments directly Io such mortgagee on behalf of homeowners whose, mortgages are held by such financial institution and who are delinquent in their mortgage payments. (b) Emergency mortgage relief payments shall be made under this section only with respect to a mortgage which meets the requirements of section 103 and only on such terms and conditions as the Secretary may prescribe, subject to the provisions of section 104. (c) The Secretary may make such delegations and accept such certifications with respect to the processing of mortgage relief payments provided under this section as he deems appropriate to facilitate the prompt and efficient implementation of the assistance authorized under this section.

1 of 1 references resolved to an enrolled provision