12 U.S.C. § 1722
Benefits and burdens incident to administration of functions and operations under sections 1720 and 1721
All of the benefits and burdens incident to the administration of the functions and operations of the Association under sections 1720 and 1721, respectively, of this title, after allowance for related obligations of the Association, its prorated expenses, and the like, including amounts required for the establishment of such reserves as the Secretary of Housing and Urban Development shall deem appropriate, shall inure solely to the Secretary of the Treasury, and such related earnings or other amounts as become available shall be paid annually by the Association to the Secretary of the Treasury for covering into miscellaneous receipts.
Notes of Decisions
Cited in 7
cases (1 in the last 5 years), 1980–2024 · leading case: Vivian Warren v. Gov't Nat'l Mortg. Ass'n, 611 F.2d 1229 (8th Cir. 1980).
Vivian Warren v. Gov't Nat'l Mortg. Ass'n, 611 F.2d 1229 (8th Cir. 1980). “The economic benefits and burdens of its administration inure to the Secretary of the Treasury, 12 U.S.C. § 1722 . Moreover, under 12 U.S.”
In Re Adana Mortg. Bankers, Inc., 12 B.R. 989 (Bankr. N.D. Ga. 1980). “12 U.S.C. § 1722 . 5 . But see discussion, infra, at footnotes 26-30.”
The Lomas & Nettleton Co. v. Samuel R. Pierce, Jr., Sec'y, Dep't of Hous. & Urban Dev., 636 F.2d 971 (5th Cir. 1981). “According to 12 U.S.C. § 1722 , any funds involved in the general operation of GNMA belong to the Treasury, since, as the section provides, “[a]Il of the benefits and burdens incident to the administration of the functions and operations of [GNMA] .”
Fox v. Dep't of Hous. & Urban Dev., 532 F. Supp. 540 (E.D. Pa. 1982). “” 12 U.S.C. § 1722 . GNMA’s function can be analogized to arbitrage; it enters the market, buying mortgages from primary lenders, in order to stimulate the mortgage market, and then sells the mortgages.”
Enter. Tools, Inc. v. Exp.-Imp. Bank of U.S., 564 F. Supp. 761 (E.D. Ark. 1983). “” 12 U.S.C. § 1722 . In Industrial Indemnity, however, jurisdiction was found to be properly vested in the district court because the judgment against the Secretary of HUD could be paid out of a certain insurance fund “that is a separate fund in the control and possession of the…”
Oklahoma Mortg. Co. v. Gov't Nat'l Mortg. Ass'n, 831 F. Supp. 821 (W.D. Okla. 1993). ““According to 12 U.S.C. § 1722 , any funds involved in the general operation of GNMA belong to the U.”
Harvey v. U.S. Bank, Nat'l Ass'n (D. Minnesota 2024). “All the “benefits and burdens” of Ginnie Mae’s operations “inure solely to the Secretary of the Treasury,” 12 U.S.C. § 1722 , and all its powers and duties are “vested in the Secretary of Housing and Urban Development and … administered under the direction of the Secretary,” 12…”
Annotations are extracted automatically from the opinions in the
Syfert caselaw corpus and ranked by authority, recency, and
treatment. Dots show Syfertize treatment of the citing case itself.