§ 1715g. — Insurance of mortgage where mortgagor is not occupant of property.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC1715g]
TITLE 12--BANKS AND BANKING
CHAPTER 13--NATIONAL HOUSING
SUBCHAPTER II--MORTGAGE INSURANCE
Sec. 1715g. Insurance of mortgage where mortgagor is not
occupant of property
The Secretary is hereby authorized to insure any mortgage otherwise
eligible for insurance under any of the provisions of this chapter
without regard to any requirement with respect to the occupancy of the
mortgagor of the property at the time of insurance, where the Secretary
is satisfied that the inability of the mortgagor to meet such
requirement is by reason of his entry on active duty in a uniformed
service subsequent to the filing of an application for insurance and the
mortgagor expresses an intent to meet such requirement upon his release
from active duty.
(June 27, 1934, ch. 847, title II, Sec. 216, as added Sept. 1, 1951, ch.
378, title VI, Sec. 607, 65 Stat. 315; amended Pub. L. 90-19,
Sec. 1(a)(3), May 25, 1967, 81 Stat. 17; Pub. L. 91-621, Sec. 7(a), Dec.
31, 1970, 84 Stat. 1865; Pub. L. 100-242, title IV, Sec. 406(b)(8), Feb.
5, 1988, 101 Stat. 1901.)
Amendments
1988--Pub. L. 100-242 substituted ``with respect to the occupancy of
the mortgagor'' for ``that the mortgagor be the occupant'' and ``meet
such requirement'' for ``occupy the property'' wherever appearing.
1970--Pub. L. 91-621 substituted ``on active duty in a uniformed
service'' and ``release from active duty'' for ``into military service''
and ``discharge from military service''.
1967--Pub. L. 90-19 substituted ``Secretary'' for ``Commissioner''
wherever appearing.
Effective Date of 1988 Amendment
Amendment by Pub. L. 100-242 applicable only with respect to
mortgages insured pursuant to conditional commitment issued on or after
Feb. 5, 1988, or in accordance with direct endorsement program (24 CFR
200.163), if approved underwriter of mortgagee signs appraisal report
for property on or after Feb. 5, 1988, see section 406(d) of Pub. L.
100-242, set out as a note under section 1709 of this title.
Section Referred to in Other Sections
This section is referred to in section 1709 of this title.
