12 U.S.C. § 1716 — Declaration of purposes of subchapter

submitted 92 years ago by ch. 847 to r/title-12-BANKS-AND-BANKING · 184 words · no verdicts yet

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the actual law source: uscode.house.gov ↗public domain

The Congress declares that the purposes of this subchapter are to establish secondary market facilities for residential mortgages, to provide that the operations thereof shall be financed by private capital to the maximum extent feasible, and to authorize such facilities to—

(1)

provide stability in the secondary market for residential mortgages;

(2)

respond appropriately to the private capital market;

(3)

provide ongoing assistance to the secondary market for residential mortgages (including activities relating to mortgages on housing for low- and moderate-income families involving a reasonable economic return that may be less than the return earned on other activities) by increasing the liquidity of mortgage investments and improving the distribution of investment capital available for residential mortgage financing;

(4)

promote access to mortgage credit throughout the Nation (including central cities, rural areas, and underserved areas) by increasing the liquidity of mortgage investments and improving the distribution of investment capital available for residential mortgage financing; and

(5)

manage and liquidate federally owned mortgage portfolios in an orderly manner, with a minimum of adverse effect upon the residential mortgage market and minimum loss to the Federal Government.

Source credit: (June 27, 1934, ch. 847, title III, § 301, 48 Stat. 1252; May 28, 1935, ch. 150, § 30, 49 Stat. 300; Feb. 3, 1938, ch. 13, §§ 4, 5, 52 Stat. 23; June 3, 1939, ch. 175, §§ 15, 16, 53 Stat. 808; Mar. 28, 1941, ch. 31, § 5, 55 Stat. 62; July 1, 1948, ch. 784, § 1, 62 Stat. 1206; Aug. 10, 1948, ch. 832, title II, §§ 201, 202, 62 Stat. 1275; Aug. 8, 1949, ch. 403, § 4, 63 Stat. 576; Oct. 25, 1949, ch. 729, § 7, 63 Stat. 906; Apr. 20, 1950, ch. 94, title I, §§ 116, 122, 64 Stat. 57, 59; Sept. 1, 1951, ch. 378, title II, § 205, title VI, § 608(b), 65 Stat. 303, 315; Apr. 9, 1952, ch. 173, 66 Stat. 51; July 14, 1952, ch. 723, §§ 3(a), 10(a)(2), 66 Stat. 602, 603; June 30, 1953, ch. 170, §§ 12, 13(a), 67 Stat. 125; June 29, 1954, ch. 410, § 1(1), 68 Stat. 320; Aug. 2, 1954, ch. 649, title II, § 201, 68 Stat. 612; Pub. L. 90–448, title VIII, § 802(b), Aug. 1, 1968, 82 Stat. 536; Pub. L. 101–73, title VII, § 731(m)(1), Aug. 9, 1989, 103 Stat. 435; Pub. L. 102–550, title XIII, § 1381(a), Oct. 28, 1992, 106 Stat. 3994.)

history & why it existsrecord from the source credit

1934Enacted · Act of June 27, 1934, ch. 847 · 48 Stat. 1252
1935Amended · Act of May 28, 1935, ch. 150 · 49 Stat. 300
1938Amended · Act of Feb. 3, 1938, ch. 13 · 52 Stat. 23
1939Amended · Act of June 3, 1939, ch. 175 · 53 Stat. 808
1941Amended · Act of Mar. 28, 1941, ch. 31 · 55 Stat. 62
1948Amended · Act of July 1, 1948, ch. 784 · 62 Stat. 1206
1948Amended · Act of Aug. 10, 1948, ch. 832 · 62 Stat. 1275
1949Amended · Act of Aug. 8, 1949, ch. 403 · 63 Stat. 576
1949Amended · Act of Oct. 25, 1949, ch. 729 · 63 Stat. 906
1950Amended · Act of Apr. 20, 1950, ch. 94 · 64 Stat. 57, 59
1951Amended · Act of Sept. 1, 1951, ch. 378 · 65 Stat. 303, 315
1952Amended · Act of Apr. 9, 1952, ch. 173 · 66 Stat. 51
1952Amended · Act of July 14, 1952, ch. 723 · 66 Stat. 602, 603
1953Amended · Act of June 30, 1953, ch. 170 · 67 Stat. 125
1954Amended · Act of June 29, 1954, ch. 410 · 68 Stat. 320
1954Amended · Act of Aug. 2, 1954, ch. 649 · 68 Stat. 612
1968Amended · Pub. L. 90-448 · 82 Stat. 536
1989Amended · Pub. L. 101-73 · 103 Stat. 435
1992Amended · Pub. L. 102-550 · 106 Stat. 3994

A history note hasn’t been published yet. The record shows enactment by ch. 847 on 1934-06-27.

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