12 U.S.C. § 5220a — Application of GSE conforming loan limit to mortgages assisted with TARP funds
submitted 17 years ago by Pub. L. 111-22 to r/title-12-BANKS-AND-BANKING · 141 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
In making any assistance available to prevent and mitigate foreclosures on residential properties, including any assistance for mortgage modifications, using any amounts made available to the Secretary* of the Treasury under title I of the Emergency Economic Stabilization Act of 2008 [12 U.S.C. 5211 et seq.], the Secretary shall provide that the limitation on the maximum original principal obligation of a mortgage that may be modified, refinanced, made, guaranteed, insured, or otherwise assisted, using such amounts shall not be less than the dollar amount limitation on the maximum original principal obligation of a mortgage that may be purchased by the Federal Home Loan Mortgage Corporation* that is in effect, at the time that the mortgage is modified, refinanced, made, guaranteed, insured, or otherwise assisted using such amounts, for the area in which the property involved in the transaction is located.
Source credit: (Pub. L. 111–22, div. A, title II, § 205, May 20, 2009, 123 Stat. 1654.)
- 2009Enacted · Pub. L. 111-22 · 123 Stat. 1654
A history note hasn’t been published yet. The record shows enactment by Pub. L. 111-22 on 2009-05-20.
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