12 U.S.C. § 1735f–11
Review of mortgagee performance and authority to terminate
United States · Title 12 — BANKS AND BANKING · Status: effective
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- Citation
- 12 U.S.C. § 1735f–11, Review of mortgagee performance and authority to terminate, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/437833
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Full text
To reduce losses in connection with single family mortgage insurance programs under this chapter, at least once a year the Secretary shall review the rate of early defaults and claims for insured single family mortgages originated or underwritten by each mortgagee.
For each mortgagee, the Secretary shall compare the rate of early defaults and claims for insured single family mortgage loans originated or underwritten by the mortgagee in an area with the rate of early defaults and claims for other mortgagees originating or underwriting insured single family mortgage loans in the area. For purposes of this section, the term “area” means each geographic area in which the mortgagee is authorized by the Secretary to originate insured single family mortgages.
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 1987House: no recorded tallySenate: no recorded tally
- Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 2002