12 U.S.C. § 1701l–1
Mortgage proceeds fraudulently misappropriated by mortgagor; recovery of deficiency after foreclosure
United States · Title 12 — BANKS AND BANKING · Status: effective
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- Citation
- 12 U.S.C. § 1701l–1, Mortgage proceeds fraudulently misappropriated by mortgagor; recovery of deficiency after foreclosure, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/437654
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Full text
The Secretary of Housing and Urban Development shall take action to secure the payment of any deficiency after foreclosure on a mortgage insured or assisted under Federal law where the Secretary has reason to believe that the mortgage proceeds have been fraudulently misappropriated by the mortgagor.
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone.
- Housing and Community Development Act of 1974House: no recorded tallySenate: no recorded tally