12 U.S.C. § 1735f–17 | Examinations and sanctions for certain violations

(a)

Examinations and sanctions

(1)

1 See References in Text note below.

1 In connection with any examination of a mortgagee approved by the Secretary pursuant to this chapter, the Secretary shall assess the performance of the mortgagee in meeting the requirements of sections 1709(t), 1715n(a)(7)(B), and 1735f–13 of this title. Where the Secretary determines that a mortgagee is not in compliance with these requirements, the Secretary shall refer the matter to the Mortgagee Review Board for investigation and appropriate action.

(2)

November 28, 1990¹¹section 553 of title 5 Not later than 180 days after , the Secretary shall by notice establish a procedure under which (A) any person may file a request that the Secretary determine whether a mortgagee is in compliance with sections 1709(t), 1715n(a)(7)(B), and 1735f–13 of this title, (B) the Secretary shall inform the person of the disposition of the request, and (C) the Secretary shall publish in the Federal Register the disposition of any case referred by the Secretary to the Mortgagee Review Board. Such procedures shall be established by regulation under . The Secretary shall issue regulations based on the initial notice before the expiration of the 8-month period beginning on the date of the notice.

(3)

Omitted.

(b)

Monitoring and review

November 28, 1990The Secretary shall continually monitor and undertake a thorough review of the implementation of this section to assess the impact of the section on the lending practices of mortgagees and the availability of mortgages insured under this chapter. The Secretary shall monitor the availability of credit, the number and type of lenders participating in the program, whether there is any change in the composition or practices of such lenders and any other factors the Secretary considers appropriate. The Secretary shall submit to the Congress findings detailing the results of such monitoring and review not later than 18 months after .

June 27, 1934, ch. 847 Pub. L. 101–625, title III, § 330(b)Nov. 28, 1990104 Stat. 4139(, title V, § 539, as added , , .)

Editorial Notes

References in Text

Section 1709(t) of this title section 1709(u) of this title Pub. L. 106–377, § 1(a)(1) [title II, § 209(a)(1)]Oct. 27, 2000114 Stat. 1441, referred to in subsec. (a)(1), (2), was redesignated by , , , 1441A–25.

Section 1715n(a)(7)(B) of this title section 1715n(a)(7)(A)(ii) of this title Pub. L. 107–116, title VI, § 615(3)Jan. 10, 2002115 Stat. 2225, referred to in subsec. (a)(1), (2), was redesignated by , , .

Codification

May 15, 2000section 3003 of Pub. L. 104–66 section 1113 of Title 31Paragraph (3) of subsection (a), which required the Secretary to submit to Congress, not less than annually, a report on actions taken to carry out this section, terminated, effective , pursuant to , as amended, set out as a note under , Money and Finance. See, also, page 103 of House Document No. 103–7.