PRIA, Government Policy, Made Personal

Summary

The Secretary may issue mortgage insurance commitments and process applications under section 1706c and subchapters II, VI, VIII, or X, even if the permanent financing will not be insured. The Secretary may set a reasonable extra application fee when not insured and make rules needed to carry this out.

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