2011 US Code
Title 12 - Banks and Banking
Chapter 28 - EMERGENCY MORTGAGE RELIEF (§§ 2701 - 2712)
Section 2705 - Emergency mortgage relief payments
View Metadata| Publication Title | United States Code, 2006 Edition, Supplement 5, Title 12 - BANKS AND BANKING |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 12 - BANKS AND BANKING CHAPTER 28 - EMERGENCY MORTGAGE RELIEF Sec. 2705 - Emergency mortgage relief payments |
| Contains | section 2705 |
| Date | 2011 |
| Laws in Effect as of Date | January 3, 2012 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Pub. L. 94-50, title I, §106, July 2, 1975, 89 Stat. 251. |
| Statutes at Large Reference | 89 Stat. 251 |
| Public Law Reference | Public Law 94-50 |
Download PDF
In the case of any mortgagee which would otherwise be eligible to participate in the program authorized under section 2704 of this title but does not qualify for an advance or advances as authorized by section 2712 of this title or under section 1430, 1430b, or 1431 of this title or otherwise elects not to participate in the program authorized under section 2704 of this title, the Secretary is authorized to make repayable emergency mortgage relief payments directly to such mortgagee on behalf of homeowners whose mortgages are held by such financial institution and who are delinquent in their mortgage payments.
(b) Mortgages eligible; terms and conditionsEmergency mortgage relief payments shall be made under this section only with respect to a mortgage which meets the requirements of section 2702 of this title and only on such terms and conditions as the Secretary may prescribe, subject to the provisions of section 2703 of this title.
(c) Processing of relief payments; power of SecretaryThe Secretary may make such delegations and accept such certifications with respect to the processing of mortgage relief payments provided under this section as he deems appropriate to facilitate the prompt and efficient implementation of the assistance authorized under this section.
(Pub. L. 94–50, title I, §106, July 2, 1975, 89 Stat. 251.)
Disclaimer: These codes may not be the most recent version. The United States Government Printing Office may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the US site. Please check official sources.
