12 U.S.C. § 1430c — Housing goals
submitted 94 years ago by Pub. L. 110-289 to r/title-12-BANKS-AND-BANKING · 161 words · no verdicts yet
The Director must establish and monitor housing goals for Federal Home Loan Bank mortgage purchases, with transition targets and annual congressional reporting.
(a) The Director* must establish housing goals for mortgage purchases, if any, by Federal Home Loan Banks, consistent with sections 4561 through 4564. (b) The Director must consider the Banks’ unique mission and ownership structure. (c) For each of the two calendar years after July 30, 2008, the Director must establish interim targets. (d) Section 4566 applies in the same manner and extent as it applies to Federal housing enterprises. (e) The Director must report annually to Congress on the Banks’ performance in meeting the goals.
The Director* shall establish housing goals with respect to the purchase of mortgages, if any, by the Federal Home Loan Banks. Such goals shall be consistent with the goals established under sections 4561 through 4564 of this title.
In establishing the goals required by subsection (a), the Director shall consider the unique mission and ownership structure of the Federal Home Loan Banks.
To facilitate an orderly transition, the Director shall establish interim target goals for purposes of this section for each of the 2 calendar years following July 30, 2008.
The requirements of section 4566 1 of this title, shall apply to this section, in the same manner and to the same extent as that section applies to the Federal housing enterprises.
The Director shall annually report to Congress on the performance of the Banks in meeting the goals established under this section.
Source credit: (July 22, 1932, ch. 522, § 10C, as added Pub. L. 110–289, div. A, title II, § 1205, July 30, 2008, 122 Stat. 2786.)
- 1932Enacted · Pub. L. 110-289 · 122 Stat. 2786
A history note hasn’t been published yet. The record shows enactment by Pub. L. 110-289 on 1932-07-22.
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