12 U.S.C. § 1735f-6

Current through P.L. 118-106 (published on www.congress.gov on 10/04/2024)

Section 1735f-6 - Secondary mortgages held by State or local governmental agency on insured properties

In carrying out the provisions of subchapter II of this chapter with respect to insuring mortgages secured by a one- to four-family dwelling unit, the Secretary may not deny such insurance for any such mortgage solely because the dwelling unit which secures such mortgage will be subject to a secondary mortgage or loan made or insured, or other secondary lien held, by any State or local governmental agency or instrumentality under terms and conditions approved by the Secretary.

12 U.S.C. § 1735f-6

June 27, 1934, ch. 847, title V, §528, as added Pub. L. 95-557 §323, Oct. 31, 1978, 92 Stat. 2102.

State

The term "State" means any State, territory, or possession of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Commonwealth of the Northern Mariana Islands, Guam, American Samoa, or the United States Virgin Islands or any federally recognized Indian tribe, as defined by the Secretary of the Interior under section 5131(a) of title 25.