§ 1709a. — Determination of loantovalue ratios.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC1709a]
TITLE 12--BANKS AND BANKING
CHAPTER 13--NATIONAL HOUSING
SUBCHAPTER II--MORTGAGE INSURANCE
Sec. 1709a. Determination of loan-to-value ratios
The Secretary of Housing and Urban Development, in establishing
maximum loan-to-value ratios for mortgages insured by him under the
National Housing Act [12 U.S.C. 1701 et seq.], as amended by sections
101, 102, and 103 of this Act, shall determine that such ratios are in
the public interest after taking into consideration (1) the effect of
such ratios on the national economy and on conditions in the building
industry, and (2) the availability or unavailability of residential
mortgage credit assisted under the Servicemen's Readjustment Act of
1944, as amended.
(Pub. L. 85-104, title I, Sec. 104, July 12, 1957, 71 Stat. 296; Pub. L.
90-19, Sec. 14(a), May 25, 1967, 81 Stat. 24.)
References in Text
The National Housing Act, referred to in text, is act June 27, 1934,
ch. 847, 48 Stat. 1246, as amended, which is classified principally to
this chapter (Sec. 1701 et seq.). For complete classification of this
Act to the Code, see section 1701 of this title and Tables.
Amendments by sections 101, 102, and 103 of this act, referred to in
text, refers to amendment of sections 1709(b), (i), 1715k(d)(3), and
1715m(b) of this title by Pub. L. 85-104.
The Servicemen's Readjustment Act of 1944, as amended, referred to
in text, is act June 22, 1944, ch. 268, 58 Stat. 284, as amended, which
was classified generally to chapter 11C (Secs. 693 to 697g) of former
Title 38, Pensions, Bonuses, and Veterans' Relief, and which was
repealed by section 14(87) of Pub. L. 85-857, Sept. 2, 1958, 72 Stat.
1273, the first section of which enacted Title 38, Veterans' Benefits.
For distribution of sections 693 to 697g of former Title 38 to Title 38,
Veterans' Benefits, see Table preceding section 101 of Title 38,
Veterans' Benefits.
Codification
Section was enacted as part of the Housing Act of 1957, and not as
part of the National Housing Act which comprises this chapter.
Amendments
1967--Pub. L. 90-19 substituted ``Secretary of Housing and Urban
Development'' for ``Federal Housing Commissioner''.
