U.S. Code
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Title 12
» Chapter CHAPTER 13— NATIONAL HOUSING › Subchapter SUBCHAPTER II— MORTGAGE INSURANCE
12 U.S.C. § 401
DEFINITIONS.
“For purposes of this title [amending this section, section 1715z–1 of this title and section 12710 of Title 42, The Public Health and Welfare]:“(1)Covered multifamily housing property.—The term ‘covered multifamily housing property’ means any housing—“(A) that is—“(i) reserved for occupancy by very low-income elderly persons pursuant to section 202(d)(1) of the Housing Act of 1959 [12 U.S.C. 1701q(d)(1)];“(ii) assisted under the provisions of section 202 of the Housing Act of 1959 (as such section existed before the effectiveness of the amendment made by section 801(a) of the Cranston-Gonzalez National Affordable Housing Act [Pub. L. 101–625]);“(iii) financed by a loan or mortgage insured, assisted, or held by the Secretary or a State or State agency under section 236 of the National Housing Act [12 U.S.C. 1715z–1]; or“(iv) financed by a loan or mortgage insured or held by the Secretary pursuant to section 221(d)(3) of the National Housing Act [12 U.S.C. 1715l(d)(3)]; and“(B) that is not eligible for assistance under—“(i) the Low-Income Housing Preservation and Resident Homeownership Act of 1990 [12 U.S.C. 4101 et seq.];“(ii) the provisions of the Emergency Low Income Housing Preservation Act of 1987 [see References in Text note above] (as in effect immediately before the date of the enactment of the Cranston-Gonzalez National Affordable Housing Act [Nov. 28, 1990]); or“(iii) the HOME Investment Partnerships Act [42 U.S.C. 12721 et seq.].“(2)Covered multifamily housing property for the elderly.—The term ‘covered multifamily housing property for the elderly’ means any multifamily housing project that was designed or designated to serve, or is serving, elderly persons or families and is assisted under a program administered by the Secretary.“(3)Secretary.—The term ‘Secretary’ means the Secretary of Housing and Urban Development.
Notes of Decisions
United Liberty Life Insurance v. Ryan (1993)
ca6
“12 U.S.C. § 401 (g). FIRREA thus provides that existing rights, duties and obligations between a bank and the FHLBB 1 are not affected by the passage of FIRREA and indicates that it is not within the discretion of OTS or FDIC to fail to uphold the prior obligations of the FHLBB.”
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