Title 12 — Banks and BankingRelease 119-73
§1709a Determination of loan-to-value ratios
Title 12 › Chapter CHAPTER 13— - NATIONAL HOUSING › Subchapter SUBCHAPTER II— - MORTGAGE INSURANCE › § 1709a
Summary
The Secretary of Housing and Urban Development must set maximum loan‑to‑value ratios for mortgages insured under the National Housing Act. Before doing so, the Secretary must decide those ratios serve the public good by considering how they affect the national economy, the building industry, and the availability of residential mortgage credit under the Servicemen’s Readjustment Act of 1944.
Full Legal Text
Title 12, §1709a
Banks and Banking — Source: USLM XML via OLRC
The Secretary of Housing and Urban Development, in establishing maximum loan-to-value ratios for mortgages insured by him under the National Housing Act [12 U.S.C. 1701 et seq.], as amended by section 101, 102, and 103 of this Act, shall determine that such ratios are in the public interest after taking into consideration (1) the effect of such ratios on the national economy and on conditions in the building industry, and (2) the availability or unavailability of residential mortgage credit assisted under the Servicemen’s Readjustment Act of 1944, as amended.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
References in Text
The National Housing Act, referred to in text, is act June 27, 1934, ch. 847, 48 Stat. 1246, which is classified principally to this chapter (§ 1701 et seq.). For complete classification of this Act to the Code, see section 1701 of this title and Tables.
Amendments
by section 101, 102, and 103 of this act, referred to in text, refers to amendment of section 1709(b), (i), 1715k(d)(3), and 1715m(b) of this title by Pub. L. 85–104. section 1709(i) of this title was repealed by Pub. L. 110–289, div. B, title I, § 2120(a)(1),
July 30, 2008, 122 Stat. 2835. section 1715m of this title was repealed by Pub. L. 110–289, div. B, title I, § 2120(a)(5),
July 30, 2008, 122 Stat. 2835. The Servicemen’s Readjustment Act of 1944, as amended, referred to in text, is act
June 22, 1944, ch. 268, 58 Stat. 284, which was classified generally to chapter 11C (§§ 693 to 697g) of former Title 38, Pensions, Bonuses, and Veterans’ Relief, and which was repealed by section 14(87) of Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1273, the first section of which enacted Title 38, Veterans’ Benefits. For distribution of sections 693 to 697g of former Title 38 to Title 38, Veterans’ Benefits, see Table preceding section 101 of Title 38, Veterans’ Benefits. Codification Section was enacted as part of the Housing Act of 1957, and not as part of the National Housing Act which comprises this chapter.
Amendments
1967—Pub. L. 90–19 substituted “Secretary of Housing and Urban Development” for “Federal Housing Commissioner”.
Reference
Citations & Metadata
Citation
12 U.S.C. § 1709a
Title 12 — Banks and Banking
Last Updated
Apr 6, 2026
Release point: 119-73