§1715f — Title 12 Banks and Banking | U.S. Code

Summary

Lets the Secretary process applications and issue commitments for mortgage insurance under section 1706c and subchapters II, VI, VIII, or X of this chapter, even if the long-term mortgage financing will not be insured under this chapter. If the mortgage is not insured under this chapter, the Secretary may charge an extra application fee that the Secretary finds reasonable. The Secretary can also make any rules needed to carry out these powers.

Title 12, §1715f

Banks and Banking — Source: USLM XML via OLRC

The Secretary is authorized to process applications and issue commitments with respect to insurance of mortgages under section 1706c of this title and subchapter II, VI, VIII, or X of this chapter, even though the permanent mortgage financing may not be insured under this chapter, and in the event the mortgage is not so insured the Secretary is authorized to charge an additional application fee determined by him to be reasonable. The Secretary is authorized to make such rules and regulations as may be necessary to carry out the provisions of this section.

Notes & Related Subsidiaries

Editorial Notes

References in Text

This chapter, referred to in text, was in the original “this Act”, meaning 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 Tables.

Amendments

1967—Pub. L. 90–19 substituted “Secretary” for “Commissioner” wherever appearing. 1951—Act Sept. 1, 1951, inserted a reference to subchapter X of this chapter.

§1715f Process of Applications and Issuance of Commitments