Notwithstanding any other provision of this chapter, no mortgage which covers new construction shall be approved for insurance under this chapter (except pursuant to a commitment made prior to August 10, 1965) if the mortgaged property includes housing which is not served by a public or adequate community water and sewerage system: Provided, That this limitation shall be applicable only to property which is not served by a system approved by the Secretary pursuant to subchapter IX–A of this chapter, as such subchapter existed immediately before December 15, 1989, and which is situated in an area certified by appropriate local officials to be an area where the establishment of public or adequate community water and sewerage systems is economically feasible: Provided further, That for purposes of this section the economic feasibility of establishing such public or adequate community water and sewerage systems shall be determined without regard to whether such establishment is authorized by law or is subject to approval by one or more local governments or public bodies.
Notes of Decisions
U.S. Bank Nat'l Ass'n v. Clark, 837 N.E.2d 74 (Ill. 2005).
· cites it 10× “1a (West 2002)) is enforceable or is preempted by a prohibition on such caps in the federal Depository Institutions Deregulation and Monetary Control Act of 1980 (12 U.S.C. § 1735f — 7a (2000)). In separate foreclosure actions brought by the plaintiff creditors, the defendant…”
Bostock v. Clayton Cnty., 140 S. Ct. 1731 (2020).
“§302 (Directors of Federal Reserve Banks; Number of Members; Classes) 12 U. S. C. §1735f–5(a) (Prohibition Against Discrimination on Account of Sex in Extension of Mortgage Assistance) 68 BOSTOCK v.”
U.S. Bank Nat'l Ass'n v. Clark, 807 N.E.2d 1109 (Ill. App. Ct. 2004).
· cites it 6× “” 12 U.S.C. § 1735f — 7a(a)(l) (2000). In these cases, the parties stipulated that the loans at issue: (1) were made after March 1, 1980; (2) satisfy the terms of section 527(b) of the National Housing Act; and (3) are not purchase-money first hens on defendants’ residential…”
Stern v. Norwest Mortg., Inc., 688 N.E.2d 99 (Ill. 1997).
· cites it 2× “DIDMCA states in relevant part: "The provisions of the constitution or the laws of any State expressly limiting the rate or amount of interest, discount points, finance charges, or other charges which may be charged, taken, received, or reserved shall not apply to any loan,…”
Stern v. Norwest Mortg., Inc., 672 N.E.2d 296 (Ill. App. Ct. 1996).
· cites it 2× “cts to post an interest-bearing time deposit (certificate of deposit) with the lender instead of establishing a tax escrow account; (2) Norwest violated the Consumer Fraud Act by representing to plaintiffs that they were required to pay the escrow waiver fee; (3) the Act is…”
Weatherman v. Gary-Wheaton Bank of Fox Valley, N.A., 676 N.E.2d 206 (Ill. App. Ct. 1996).
“(West 1989)) provides a defense to a lender’s liability under the Consumer Fraud Act; (2) it is not an unfair or deceptive practice under the Consumer Fraud Act for a lender to charge a borrower a mortgage assignment recording fee; (3) section 1735f—7(a)(1) of the Depository…”
Fid. Fin. Servs., Inc. v. Hicks, 574 N.E.2d 15 (Ill. App. Ct. 1991).
“” (12 U.S.C. §1735f—7a(a)(1)(A) (1988).) Fidelity does not now argue that section 4.”
Jackson v. Mundaca Fin. Servs., Inc., 76 S.W.3d 819 (Ark. 2002).
“Initially, appellee cited that the loan was a Federal Housing Agency (FHA) approved Title I home improvement loan, and therefore Arkansas’s usury law was preempted under 12 U.S.C. § 1735f. The chancellor rejected that argument because appellee failed to prove at trial that…”
First Am. Bank v. Windjammer Time Sharing, 483 So. 2d 732 (Fla. 4th DCA 1986).
“In making this assertion, the bank places particular emphasis on two separate sections of the act 12 U.S.C. §§ 1735f and 1730g. Both sections provide, in essence, that state usury ceilings are suspended for certain kinds of loans.”
Firstsouth, F.A. v. Lawson Square, Inc. (In Re Lawson Square, Inc.), 61 B.R. 145 (Bankr. W.D. Ark. 1986).
“In making this assertion, the bank places particular emphasis on two separate sections of the act — 12 U.S.C. §§ 1735f and 1730g. Both sections provide, in essence, that state *150 usury ceilings are suspended for certain kinds of loans and section 1730g (upon which the bank…”
Autrey v. United Companies Lending Corp., 872 F. Supp. 925 (S.D. Ala. 1995).
“12 U.S.C. § 1735f — 7a(b)(2). 8 . Section 501(b)(4) provides: At any time after March 31, 1980, any State may adopt a provision of law placing limitations on discount points or such other charges on any loan, mortgage, credit sale, or advance described in subsection (a)(1) of…”
Grunbeck v. Dime Sav. Bank of New York, FSB, 848 F. Supp. 294 (D.N.H. 1994).
“Third, the loan is a “federally related mortgage loan” as defined in § 527(b) of the National Housing Act (12 U.S.C.A. § 1735f—5(b)). It is secured by a single family dwelling and it is eligible for purchase by the Federal National Mortgage Loan Association and/or the Federal…”
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