Title 12, Banks and BankingRelease 119-102
§3703 Applicability
Title 12 › CHAPTER 38 — MULTIFAMILY MORTGAGE FORECLOSURE › § 3703
Summary
The Secretary may foreclose on multifamily mortgages tied to property in any State, using this chapter’s procedures or other foreclosure methods and, if chosen, applying rules from elsewhere in the law.
Full Legal Text
Title 12, §3703
Banks and Banking, Source: USLM XML via OLRC
Multifamily mortgages held by the Secretary encumbering real estate located in any State may be foreclosed by the Secretary in accordance with this chapter, or pursuant to other foreclosure procedures available, at the option of the Secretary. If the Secretary forecloses on any such mortgage pursuant to such other foreclosure procedures available, the provisions of section 3706(b) of this title may be applied at the discretion of the Secretary.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Amendments
1983—Pub. L. 98–181 inserted provision relating to application of section 3706(b) of this title in event of foreclosure under other foreclosure procedures.
Reference
Citations & Metadata
Citation
12 U.S.C. § 3703
Title 12, Banks and Banking
Last Updated
Aug 21, 2026
Release point: 119-102