12 U.S.C. 1709: Insurance of mortgages

2016

• Pub. L. 114–201 added subsec. (y). (Housing Opportunity Through Modernization Act of 2016) Law text · (y)

2011

• Pub. L. 112–78, §402(b), struck out subpar. (C) which related to requirement that the Secretary, in addition to the premiums under subpars. (A) and (B), establish and collect annual premium payments of up to 10 basis points of the remaining insured principal balance for any mortg… (Temporary Payroll Tax Cut Continuation Act of 2011) Law text · (c)
• Pub. L. 112–78, §402(a), added subpar. (C). (Temporary Payroll Tax Cut Continuation Act of 2011) Law text · (c)

2010

• Pub. L. 111–229, §1(a)(1), in introductory provisions, substituted "may" for "shall" and "1.5 percent" for "0.50 percent". Law text · (c)
• Pub. L. 111–229, §1(a)(2), substituted "may be in an amount not exceeding 1.55 percent" for "shall be in an amount not exceeding 0.55 percent". Law text · (c)

2008

• Pub. L. 110–289, §2112(a)(2), which directed striking out second sentence in matter following subpar. (B) and all that followed through "section 3103A(d) of title 38", was executed in first undesignated par. after subpar. (B) by striking out "For purposes of this paragraph, the term… (Housing and Economic Recovery Act of 2008) Law text · (b)
• Pub. L. 110–289, §2112(a)(1), added subpars. (A) and (B) and struck out former subpars. (A) and (B) which related to maximum limits for principal loan obligation. (Housing and Economic Recovery Act of 2008) Law text · (b), (B)
• Pub. L. 110–289, §2113, amended par. (9) generally. Prior to amendment, par. (9) related to requirement that mortgagors other than veterans pay on account of the property at least 3 per centum, or such larger amount as the Secretary may determine, of the Secretary's estimate of the … (Housing and Economic Recovery Act of 2008) Law text · (b)
• Pub. L. 110–289, §2114(1), in introductory provisions, struck out "or of the General Insurance Fund pursuant to subsection (v) of this section and each mortgage that is insured under subsection (k) of this section or section 1715y(c) of this title,," after "Mutual Mortgage Insurance… (Housing and Economic Recovery Act of 2008) Law text · (c)
• Pub. L. 110–289, §2114(2), substituted "3 percent" for "2.25 percent" and "2.75 percent" for "2.0 percent". (Housing and Economic Recovery Act of 2008) Law text · (c)
• Pub. L. 110–289, §2112(b), substituted "Except as provided in paragraph (2) of this subsection, notwithstanding" for "Notwithstanding any", designated existing provisions as par. (1), and added par. (2). (Housing and Economic Recovery Act of 2008) Law text · (d)
• Pub. L. 110–289, §2120(a)(1), struck out subsec. (i) which related to Secretary's authority to insure mortgages for single-family residences in suburban and outlying areas or small communities and certain farm homes. (Housing and Economic Recovery Act of 2008) Law text · (i)
• Pub. L. 110–289, §2115(1), struck out "on and after 180 days following October 31, 1978" after "financial institutions". (Housing and Economic Recovery Act of 2008) Law text · (k)
• Pub. L. 110–289, §2115(2), substituted "Mutual Mortgage Insurance Fund" for "General Insurance Fund" and struck out ", except that all references in section 1710 of this title to the Mutual Mortgage Insurance Fund shall be construed as referring to the General Insurance Fund" after … (Housing and Economic Recovery Act of 2008) Law text · (k)
• Pub. L. 110–289, §2121, inserted "or subordinate mortgage or" before "lien". (Housing and Economic Recovery Act of 2008) Law text · (n), (C)
• Pub. L. 110–289, §2120(a)(2), struck out subsec. (o) which related to insurance of mortgages on owner occupied homes in communities subject to adverse economic conditions resulting from Indian claims to ownership of land and obligation of Special Risk Insurance Fund. (Housing and Economic Recovery Act of 2008) Law text · (o)
• Pub. L. 110–289, §2120(a)(3), struck out subsec. (p) which related to insurance of mortgages in communities subject to temporary adverse economic conditions as a result of claims to ownership of land in the community by an American Indian Tribe, band, or nation. (Housing and Economic Recovery Act of 2008) Law text · (p)
• Pub. L. 110–289, §2120(a)(4), struck out subsec. (q) which related to insurance of mortgages secured by property on certain lands leased by Seneca Nation of New York Indians. (Housing and Economic Recovery Act of 2008) Law text · (q)
• Pub. L. 110–289, §2116(3), redesignated and transferred subsec. (s) of this section to subsec. (e) of section 1708 of this title. (Housing and Economic Recovery Act of 2008) Law text · (s)
• Pub. L. 110–289, §2116(2), added par. (4) and struck out former par. (4) which read as follows: "the Administrator of the Farmers Home Administration;". (Housing and Economic Recovery Act of 2008) Law text · (s)
• Pub. L. 110–289, §2120(b), substituted "means a metropolitan statistical area as established by the Office of Management and Budget;" for "shall have the meaning given the term under subsection (b)(2) of this section;". (Housing and Economic Recovery Act of 2008) Law text · (u)
• Pub. L. 110–289, §2118(b)(1), substituted "The" for "Notwithstanding section 1708 of this title, the" and "Mutual Mortgage Insurance Fund." for "General Insurance Fund created pursuant to section 1735c of this title. The provisions of subsections (a) through (h), (j), and (k) of sectio… (Housing and Economic Recovery Act of 2008) Law text · (v)

2005

• Pub. L. 109–13, §6073(b)(2), struck out "or (k)" after "(2) under subsection (n)" and "charges under subsection (n)". (Emergency Supplemental Appropriations Act for Defense, the Global War on Terror, and Tsunami Relief, 2005) Law text · (c)
• Pub. L. 109–13, §6073(b)(1), substituted "(2) under subsection (n)" for "(2) under subsections (n)". (Emergency Supplemental Appropriations Act for Defense, the Global War on Terror, and Tsunami Relief, 2005) Law text · (c)
• Pub. L. 109–13, §6073(a), repealed Pub. L. 108–447, §222. See note below. (Emergency Supplemental Appropriations Act for Defense, the Global War on Terror, and Tsunami Relief, 2005) Law text · (c)
• 2004–Subsec. (c)(1). Pub. L. 108–447, §222, which directed the substitution of "subsection (n)" for "subsections (n) and (k)" and the striking out of "or (k)", was repealed by Pub. L. 109–13, §6073(a). (Consolidated Appropriations Act, 2005) Law text · (c)
• Pub. L. 108–447, §223, inserted ", provided that the mortgagor refinances the unpaid principal obligation under this subchapter" before period at end. (Consolidated Appropriations Act, 2005) Law text · (c)
• Pub. L. 108–386 struck out "or District bank" after "national bank". (2004 District of Columbia Omnibus Authorization Act) Law text · (s)

2002

• Pub. L. 107–326, §2(1)(A), substituted "shall comply with the following:" for "shall—" in introductory provisions. (FHA Downpayment Simplification Act of 2002) Law text · (b)
• Pub. L. 107–326, §2(1)(C), transferred text of subsec. (b)(10)(B) so as to appear as second sentence of concluding provisions in par. (2). (FHA Downpayment Simplification Act of 2002) Law text · (b)
• Pub. L. 107–326, §2(1)(B)(ii)(III), in concluding provisions, struck out the eleventh sentence through the end which read as follows: "In conjunction with any loan insured under this section, an original lender shall provide to each prospective borrower a disclosure notice that provides a one page … (FHA Downpayment Simplification Act of 2002) Law text · (b)
• Pub. L. 107–326, §2(1)(B)(ii)(II), in concluding provisions, struck out seventh through ninth sentences which read as follows: "Except with respect to mortgages executed by mortgagors who are veterans, a mortgage may not involve a principal obligation (including such initial service charges, apprai… (FHA Downpayment Simplification Act of 2002) Law text · (b)
• Pub. L. 107–326, §2(1)(B)(ii)(I), in concluding provisions, struck out second and third sentences which read as follows: "If the mortgage to be insured under this section covers property on which there is located a one- to four-family residence, and the appraised value of the property, as of the da… (FHA Downpayment Simplification Act of 2002) Law text · (b)
• Pub. L. 107–326, §2(1)(B)(i), realigned margins of matter that precedes cl. (ii). (FHA Downpayment Simplification Act of 2002) Law text · (b)
• Pub. L. 107–326, §2(1)(B)(iii), added subpar. (B) and struck out former subpar. (B) which read as follows: "except as otherwise provided in this paragraph (2), not to exceed an amount equal to the sum of— (FHA Downpayment Simplification Act of 2002) Law text · (b)
• Pub. L. 107–326, §2(1)(C), (D), transferred text of subpar. (B) so as to appear as second sentence of concluding provisions in subsec. (b)(2) and struck out headings and text of remainder of par. (10) which related to calculation of downpayment. (FHA Downpayment Simplification Act of 2002) Law text · (b)
• Pub. L. 107–326, §2(2), added subsec. (f). (FHA Downpayment Simplification Act of 2002) Law text · (f)

2001

• Pub. L. 107–73, §207(a)(1), substituted "subsections (n) or (k)" for "subsections (n) and (k)" in cl. (2) of first proviso. (Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 2002) Law text · (c)
• Pub. L. 107–73, §207(a)(2), in introductory provisions, struck out "and executed on or after October 1, 1994," after "1- to 4-family dwelling" and inserted "and each mortgage that is insured under subsection (k) of this section or section 1715y(c) of this title," after "subsection (… (Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 2002) Law text · (c)

2000

• Pub. L. 106–377, §1(a)(1) [title II, §225], substituted "mortgage closed on or before December 31, 2002, involving" for "mortgage closed on or before October 30, 2000 involving" in introductory provisions. (Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 2001) Law text · (b)
• Pub. L. 106–281 substituted "closed on or before October 30, 2000" for "executed for insurance in fiscal years 1998, 1999, and 2000" in introductory provisions. (FHA Downpayment Simplification Extension Act of 2000) Law text · (b)
• Pub. L. 106–377, §1(a)(1) [title II, §209(a)(2)], redesignated subsec. (s), relating to disclosure regarding interest due upon mortgage prepayment, as (t). (Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 2001) Law text · (s)
• Pub. L. 106–377, §1(a)(1) [title II, §209(a)(2)], redesignated subsec. (s), relating to disclosure regarding interest due upon mortgage prepayment, as (t). (Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 2001) Law text · (t)
• Pub. L. 106–377, §1(a)(1) [title II, §209(a)(1)], redesignated subsec. (t) as (u). (Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 2001) Law text · (t)
• Pub. L. 106–377, §1(a)(1) [title II, §209(a)(1)], redesignated subsec. (t) as (u). (Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 2001) Law text · (u)
• Pub. L. 106–377, §1(a)(1) [title II, §209(a)(3)], redesignated subsec. (v), relating to annual report, as (w). (Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 2001) Law text · (v)
• Pub. L. 106–569, which directed the amendment of subsec. (v) relating to annual report by inserting concluding provisions, was executed by making the insertion in subsec. (w) to reflect the probable intent of Congress and the intervening redesignation of that subsec. (v) as (w) by Pub.… (American Homeownership and Economic Opportunity Act of 2000) Law text · (w)
• Pub. L. 106–377, §1(a)(1) [title II, §209(a)(3)], redesignated subsec. (v), relating to annual report, as (w). (Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 2001) Law text · (w)

1999

• Pub. L. 106–74 inserted "the greater of the dollar amount limitation in effect under this section for the area on October 21, 1998, or" before "48 percent". (Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 2000) Law text · (b)

1998

• Pub. L. 105–276, §225(a), inserted at end undesignated par. relating to disclosure notice furnished by original lender. (Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1999) Law text · (b)
• Pub. L. 105–276, §228(a), added cl. (ii) and struck out former cl. (ii) and concluding provisions which read as follows: (Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1999) Law text · (b)
• Pub. L. 105–276, §228(b), amended first sentence of concluding provisions generally. Prior to amendment, sentence read as follows: "For purposes of the preceding sentence, the term 'area' means a county, or a metropolitan statistical area as established by the Office of Managemen… (Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1999) Law text · (b)
• Pub. L. 105–276, §212(1), substituted "Calculation of Downpayment" for "Alaska and hawaii" in heading. (Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1999) Law text · (b)
• Pub. L. 105–276, §212(2), substituted "executed for insurance in fiscal years 1998, 1999, and 2000" for "originated in the State of Alaska or the State of Hawaii and endorsed for insurance in fiscal years 1997 and 1998,". (Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1999) Law text · (b)
• Pub. L. 105–276, §224, added subsec. (x). (Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1999) Law text · (x)

1997

• Pub. L. 105–65 substituted "fiscal years 1997 and 1998" for "fiscal year 1997". (Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1998) Law text · (b)

1996

• Pub. L. 104–204, §425(a), inserted before period at end ": Provided further, That for purposes of this paragraph, the Secretary shall consider as cash or its equivalent any amounts borrowed from a family member (as such term is defined in section 1707 of this title), subject only to… (Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1997) Law text · (b)
• Pub. L. 104–204, §426, added par. (10). (Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1997) Law text · (b)
• Pub. L. 104–204, §424, inserted after first sentence "In the case of a mortgage for which the mortgagor is a first-time homebuyer who completes a program of counseling with respect to the responsibilities and financial management involved in homeownership that is approved by the … (Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1997) Law text · (c)

1994

• Pub. L. 103–327 substituted cl. (ii) and concluding provisions for former cl. (ii) and concluding provisions which read as follows: · (b)
• Pub. L. 103–211, effective for 18-month period following Feb. 12, 1994, for eligible persons, substituted "Robert T. Stafford Disaster Relief and Emergency Assistance Act" for "section 5122(2) and 5170 of title 42" and inserted at end "In any case in which the single family residence t… · (h)
• Pub. L. 103–211, effective for 18-month period following Feb. 12, 1994, for eligible persons, added par. (6) which read as follows: "The Secretary is authorized, for a temporary period not to exceed 18 months from the date on which the President has declared a major disaster to have… · (k)

1992

• Pub. L. 102–550, §506(a), added undesignated par. prohibiting Secretary from insuring mortgage executed by first-time homebuyer involving principal obligation in excess of 97 percent of value of property, unless mortgagor completes approved counseling program or Secretary waives req… · (b)
• Pub. L. 102–550, §505(a), substituted "Except with respect to mortgages executed by mortgagors who are veterans" for "Notwithstanding any other provision of this paragraph" in second undesignated par. · (b)
• Pub. L. 102–550, §503(a), amended first sentence generally. Prior to amendment, first sentence read as follows: "Involve a principal obligation (including such initial service charges, appraisal, inspection, and other fees as the Secretary shall approve) in an amount— · (b)
• Pub. L. 102–389 amended first sentence generally. Prior to amendment, first sentence read as follows: "Involve a principal obligation (including such initial service charges, appraisal, inspection, and other fees as the Secretary shall approve) in an amount not to exceed $67,500 in the case of prop… · (b)
• Pub. L. 102–389 inserted at end of second undesignated par. "Notwithstanding the authority of the Secretary to establish the terms of insurance under this section and approve the initial service charges, appraisal, inspection, and other fees (and subject to any other limitations under this section … · (b)
• Pub. L. 102–550, §505(b), substituted "(except with respect to a mortgage executed by a mortgagor who is a veteran)" for "(except in a case to which the next to the last sentence of paragraph (2) applies)". · (b)
• Pub. L. 102–550, §185(c)(1)(A), inserted "or of the General Insurance Fund pursuant to subsection (v) of this section" after "Fund" in introductory provisions. · (c)
• Pub. L. 102–550, §507(a)(1), (2)(A), substituted "not exceeding" for "equal to". · (c), (B)
• Pub. L. 102–550, §507(a)(2)(B), substituted "not exceeding 0.55 percent" for "equal to 0.55 percent". · (c)
• Pub. L. 102–550, §1012(k)(2), inserted at end "The term 'rehabilitation' may also include measures to evaluate and reduce lead-based paint hazards, as such terms are defined in section 4851b of title 42." · (k)
• Pub. L. 102–550, §504, added subsec. (v) relating to annual reports. · (v)
• Pub. L. 102–550, §185(c)(1)(B), added subsec. (v) relating to use of FHA insurance with assistance under 42 U.S.C. 1437f. · (v)

1991

• Pub. L. 102–40 substituted "section 5303A(d) of title 38" for "section 3103A(d) of title 38". · (b)

1990

• Pub. L. 101–508, §2102, inserted at end "Notwithstanding any other provision of this paragraph, a mortgage may not involve a principal obligation (including such initial service charges, appraisal, inspection, and other fees as the Secretary shall approve) in excess of 98.75 percent… · (b)
• Pub. L. 101–508, §2101, substituted "185 percent of the dollar amount specified" for "150 percent (185 percent until October 31, 1990) of the dollar amount specified" after "exceed the lesser of (A)". · (b)
• Pub. L. 101–507 which directed the substitution of "(185 percent during fiscal year 1991)" for "(185 percent during fiscal year 1990)" could not be executed because "during fiscal year 1990" did not appear in text after amendment by Pub. L. 101–402. See below. · (b)
• Pub. L. 101–402 substituted "until October 31, 1990" for "during fiscal year 1990". · (b)
• Pub. L. 101–625, §429, inserted "or with respect to a mortgage covering a housing unit in connection with a homeownership program under the Homeownership and Opportunity Through HOPE Act," before "the mortgagor's payment". · (b)
• Pub. L. 101–508, §2103(a), designated existing provisions as par. (1), added par. (2), and struck out at end of par. (1) "In the case of any mortgage secured by a 1- to 4-family dwelling, the total premium charge shall not exceed an amount equal to 3.8 percent of the original principal… · (c)
• Pub. L. 101–625, §326(a), inserted at end "In making this determination with respect to the occupancy of secondary residences, the Secretary may not insure mortgages with respect to such residences unless the Secretary determines that it is necessary to avoid undue hardship to the m… · (g)
• Pub. L. 101–625, §327, added par. (4). · (r)
• Pub. L. 101–625, §329, added subsec. (s) relating to disclosure regarding interest due upon mortgage prepayment. · (s)
• Pub. L. 101–625, §330, added subsec. (t). · (t)

1989

• Pub. L. 101–144 inserted "(185 percent during fiscal year 1990)" after "(A) 150 percent". · (b)
• Pub. L. 101–235, §143(b), redesignated par. (3) as (2) and struck out former par. (2) which read as follows: "The occupancy requirement established in paragraph (1) shall apply only if the mortgage involves a principal obligation that exceeds, as appropriate, 75 percent of— · (g)
• Pub. L. 101–235, §143(a)(1), inserted ", or any other State or local government or an agency thereof" before semicolon at end. · (g)
• Pub. L. 101–235, §143(a)(2), inserted ", or other private nonprofit organization that is exempt from taxation under section 501(c)(3) of title 26 and intends to sell or lease the mortgaged property to low or moderate-income persons, as determined by the Secretary" before semicolo… · (g)
• Pub. L. 101–235, §143(b)(2), redesignated par. (4) as (3). Former par. (3) redesignated (2). · (g), (4)
• Pub. L. 101–235, §132(a)(1), amended first sentence generally, substituting "the single-family mortgage insurance programs carried out under this subchapter" for "the mortgage insurance program carried out under this section". · (r)
• Pub. L. 101–235, §132(a)(2), amended pars. (2) and (3) generally. Prior to amendment, pars. (2) and (3) read as follows: · (r), (3)
• Pub. L. 101–235, §135, added subsec. (s). · (s)

1988

• Pub. L. 100–628, §§1061, 1062(b), clarified amendments by Pub. L. 100–242, §§405(1), 406(b)(1)(B). · (b)
• Pub. L. 100–242, §406(b)(1)(A), struck out "(whether or not such one- or two-family residence may be intended to be rented temporarily for school purposes)" after "in the case of a two-family residence" in first sentence. · (b)
• Pub. L. 100–242, §404, substituted "150 percent" for "1331/3 per centum" in cl. (A) of first sentence. · (b)
• Pub. L. 100–242, §423, inserted definition of "area". · (b)
• Pub. L. 100–242, §406(b)(1)(B), struck out "to be occupied as the principal residence of the owner" after "residence". · (b)
• Pub. L. 100–242, §405(1), which directed insertion of ", except that persons enlisting in the armed forces after September 7, 1980, or entering active duty after October 16, 1981, shall have their eligibility determined in accordance with section 3103A(d) of title 38" before period at end of first … · (b)
• Pub. L. 100–242, §406(b)(2), struck out par. (8) which related to eligibility for insurance of a mortgage in the case of a mortgagor who is not occupant of the property. · (b)
• Pub. L. 100–242, §403, inserted provisions at end relating to total premium charge to be fixed by Secretary in case of any mortgage secured by 1- to 4-family dwelling. · (c)
• Pub. L. 100–242, §406(a), added subsec. (g). · (g)
• Pub. L. 100–628, §1062(a), added subpar. (F). · (g)
• Pub. L. 100–707, §109(e)(2), struck out "riot or civil disorder" after "hurricane, earthquake, storm," and substituted "5170" for "5141". · (h)
• Pub. L. 100–242, §406(b)(3), struck out "is the owner and occupant and" after "where the mortgagor". · (h)
• Pub. L. 100–242, §406(b)(4), struck out "Provided, That if the mortgagor is not the occupant of the property at the time of insurance, the principal obligation of the mortgage shall not exceed 85 per centum of the appraised value of the property:" after "for a single-family residence:"… · (i)
• Pub. L. 100–242, §429(c), substituted "borrower and the financial institution" for "mortgagor and the mortgagee". · (k)
• Pub. L. 100–242, §406(c), struck out subsec. (m) which related to insurance of mortgages on dwellings that need not be designed for year-round occupancy. · (m)
• Pub. L. 100–242, §406(b)(5), substituted "owner" for "owner occupant" in first sentence. · (o)
• Pub. L. 100–242, §406(b)(6), substituted "owner" for "owner-occupant" in first sentence. · (p)
• Pub. L. 100–242, §422(b), substituted "Secretary shall" for "Secretary may". · (q)
• Pub. L. 100–242, §407(a)(1), added subsec. (r). · (r)
• Pub. L. 100–628, §1063(a), substituted "date on which the mortgage is executed" for "date on which the mortgage is endorsed for insurance". · (r), (B)

1986

• Pub. L. 99–601 added subsec. (q). · (q)

1984

• Pub. L. 98–479 substituted "a" for "an" before "cooperative ownership". · (n)

1983

• Pub. L. 98–181, §424(a), struck out "(except as provided in the next to the last sentence of this paragraph)" and inserted "(except as otherwise provided in this paragraph)" and inserted after first sentence "If the mortgage to be insured under this section covers property on which … · (b)
• Pub. L. 98–181, §423(b)(1), struck out ": Provided, That the foregoing maximum mortgage amounts may be increased by the amount of the mortgage insurance premium paid at the time the mortgage is insured" after "150 per centum of such median price". · (b)
• Pub. L. 98–181, §404(b)(2), substituted provision that the interest rate be at such rate as agreed upon by the mortgagor and the mortgagee for provision that the interest rate, exclusive of premium charges for insurance and service charges if any, not exceed 5 per centum per annum o… · (b)
• Pub. L. 98–181, §425, substituted "the lesser of (A) the otherwise applicable maximum dollar amount prescribed under paragraph (2), or (B) 85 percent of the appraised value of the property as of the date the mortgage is accepted for insurance" for "85 per centum of the amount comput… · (b)
• Pub. L. 98–181, §447, inserted "(1) under section 1715z–10, 1715z–12, 1715z–16, 1715z–17, or 1715z–18 of this title, or any other financing mechanism providing alternative methods for repayment of a mortgage that is determined by the Secretary to involve additional risk, or (2)" after … · (c)
• Pub. L. 98–181, §423(a), added subsec. (d). · (d)
• Pub. L. 98–63 substituted "the applicable maximum dollar limit under subsection (b)" for "$14,400". · (h)
• Pub. L. 98–181, §404(b)(3), substituted provision that interest be at such a rate as agreed upon by the mortgagor and mortgagee for provision that interest be at a rate permitted by the Secretary for mortgages insured under this section, except that the Secretary could permit a h… · (k)
• Pub. L. 98–181, §419(1), inserted "or the construction of which was completed more than a year prior to the application for the mortgage insurance" after "under this chapter". · (n)
• Pub. L. 98–181, §419(2), struck out "nonprofit" before "cooperative". · (n)

1982

• Pub. L. 97–253, §201(a)(1), inserted provision that the foregoing maximum mortgage amounts may be increased by the amount of the mortgage insurance premium paid at the time the mortgage is insured. · (b)
• Pub. L. 97–253, §201(a)(2), inserted "(excluding the mortgage insurance premium paid at the time the mortgage is insured)" after "cost of acquisition". · (b)
• Pub. L. 97–253, §201(b), inserted provision that with respect to mortgages for which the Secretary requires, at the time the mortgage is insured, the payment of a single premium charge to cover the total premium obligation for the insurance of the mortgage, and on which the principal o… · (c)

1980

• Pub. L. 96–399, §336(a), inserted provisions authorizing the Secretary to increase maximum dollar amounts with respect to four-family residences. · (b)
• Pub. L. 96–399, §333(a), struck out provisions relating to applicability to criteria of three-quarters of the Secretary's estimate of the remaining economic life of the building improvements. · (b)
• Pub. L. 96–399, §321, substituted provisions relating to insurance benefits paid with respect to loans secured by a first mortgage, and insured under this subsection, and those secured by a mortgage other than a first mortgage, and insured under this subsection, for provisions relat… · (k)
• Pub. L. 96–399, §328, added subsec. (p). · (p)

1979

• Pub. L. 96–153, §§310, 312(a), excepted dwellings covered by a consumer protection or warranty plan acceptable to the Secretary and satisfying all requirements which would have been applicable if such dwellings had been approved for mortgage insurance prior to the beginning of const… · (b)
• Pub. L. 96–153, §318, substituted "two and one-half or more acres in size adjacent to an all-weather public road" for "five or more acres in size adjacent to a public highway" in last proviso. · (i)

1978

• Pub. L. 95–619 inserted provision that the amount insurable under this section could be increased by up to 20 per centum if such increase were necessary to account for the increased cost of a residence due to the installation of a solar energy system. · (b)
• Pub. L. 95–557, §101(c)(2), substituted "subsections (n) and (k) are not required" for "subsection (n) is not required" and "subsection (n) or (k) exceed 1 per centum" for "subsection (n) exceed 1 per centum". · (c)
• Pub. L. 95–557, §101(c)(1), generally revised subsec. (k) to meet the credit needs of owners of from one-to-four family properties who can afford market rate borrowing by insuring one hundred percent of the loan amount and covering the cost of rehabilitation, rehabilitation and refinan… · (k)

1977

• Pub. L. 95–128, §§303(a), 304(a), substituted "$60,000" for "$45,000", "$65,000" for "$48,750" wherever appearing, and "$75,000" for "$56,000" in provisions preceding cl. (i); struck out in cl. (i) following "97 per centum" parenthetical text "(but, in any case where the dwelling is… · (b)
• Pub. L. 95–128, §305, inserted proviso respecting premium charges for insurance under subsec. (n) of this section. · (c)
• Pub. L. 95–128, §303(g), substituted provision which authorizes the Secretary to insure a mortgage hereunder which involves a principal obligation not in excess of 75 per centum of the limit on the principal obligation applicable to a one-family residence under subsec. (b) of this sect… · (i)
• Pub. L. 95–128, §307, added subsec. (o). · (o)

1974

• Pub. L. 93–383, §302(a), substituted "$45,000" for "$33,000", "$48,750" for "$35,750" wherever appearing therein, and "$56,000" for "$41,250" in provisions preceding cl. (i). · (b)
• Pub. L. 93–383, §310(a)(1), substituted "$25,000" for "$15,000" in first and second sentences. · (b)
• Pub. L. 93–383, §310(a)(2), substituted "$25,000" for "$15,000" and "$35,000" for "$25,000" in first and second sentences. · (b)
• Pub. L. 93–383, §310(a)(3), substituted "$35,000" for "$25,000" in first and second sentences. · (b)
• Pub. L. 93–288 substituted "sections 5122(2) and 5141 of title 42" for "section 4402(1) of title 42". · (h)
• Pub. L. 93–449 added subsec. (n). · (n)

1970

• Pub. L. 91–606 substituted reference to section "4402(1)" for "1855a(a)" of title 42. · (h)

1969

• Pub. L. 91–152, §§102(a), 113(a)(1), substituted "$25,000" for "$20,000" wherever appearing, "$33,000" for "$30,000", "$35,750" for "$32,500" wherever appearing, and "$41,250" for "$37,500". · (b)
• Pub. L. 91–152, §113(a)(2), substituted "$14,400" for "$12,000". · (h)
• Pub. L. 91–152, §113(a)(3), substituted "$16,200" for "$13,500". · (i)
• Pub. L. 91–152, §113(a)(4), substituted "$18,000" for "$15,000". · (m)

1968

• Pub. L. 90–448, §1106(d), authorized insurance of mortgages for reconstruction of homes destroyed or damaged as a result of riot or civil disorder. · (h)
• Pub. L. 90–448, §317, substituted "$13,500" for "$12,500". · (i)
• Pub. L. 90–448, §103(b), repealed subsec. (l) which authorized insurance of mortgages in areas affected by civil disorders. See section 1715n(e) of this title. · (l)
• Pub. L. 90–448, §318, added subsec. (m). · (m)

1966

• Pub. L. 89–754, §301, substituted "If the mortgagor is a veteran," for "If the mortgagor is a veteran who has not received any direct, guaranteed, or insured loan under laws administered by the Veterans' Administration for the purchase, construction, or repair of a dwelling (includi… · (b)
• Pub. L. 89–754, §302, added subsec. (l). · (l)

1965

• Pub. L. 89–117, §§203, 206(a), substituted "and (except as provided in the next to the last sentence of this paragraph) not to exceed" for "and not to exceed", and "80 per centum" for "75 per centum", and inserted provisions prescribing the amount of the principal obligation for vet… · (b)
• Pub. L. 89–117, §§204, 206(b), inserted "(except in a case to which the next to the last sentence of paragraph (2) applies)" and "or with respect to a mortgage covering a single-family home being purchased under the low-income housing demonstration project assisted pursuant to secti… · (b)
• Pub. L. 89–117, §205, substituted "$12,500" for "$11,000". · (i)
• Pub. L. 89–117, §1108(c), substituted "the General Insurance Fund" for "a separate section 203 Home Improvement Account to be maintained as hereinafter provided under the Mutual Mortgage Insurance Fund" in cl. (3) of the first sentence and "the General Insurance Fund or in debentures e… · (k)

1964

• Pub. L. 88–560, §102(a), increased maximum amount of the principal obligation for one-family residences from $25,000 to $30,000, for two-family residences from $27,500 to $32,500, for three-family residences from $27,500 to $32,500, and for four-family residences from $35,000 to $37… · (b)
• Pub. L. 88–560, §102(b), increased maximum amount of the principal obligation from $9,000 to $11,000. · (i)
• Pub. L. 88–560, §§103, 105(c)(1), substituted in cl. (2) "an acceptable risk" for "economically sound", in cl. (4) provision for payment of insurance benefits "in cash out of the Section 203 Home Improvement Account or in debentures executed in the name of such Account" for provision f… · (k)

1961

• Pub. L. 87–70, §604(b), struck out proviso which limited the aggregate amount of principal obligations of all mortgages insured under this chapter to not more than $7,750,000,000, and which permitted additional increases in such sum by not more than $1,250,000,000 in the aggregate. · (a)
• Pub. L. 87–70, §605(a), (b), increased maximum amount of the principal obligation for one-family residences from $22,500 to $25,000, and for two-family residences from $25,000 to $27,500, and substituted "$15,000" for "$13,500" in two places, "$20,000" for "$18,000" in two places, a… · (b)
• Pub. L. 87–70, §§605(c), 612(a)(1), substituted "thirty-five years (or thirty years if such mortgage is not approved for insurance prior to construction) from the date of the beginning of amortization of the mortgage" for "thirty years from the date of the insurance of the mortgage". · (b)
• Pub. L. 87–70, §§606, 612(a)(2), reduced minimum premium charge from an amount equivalent to one-half of 1 per centum per annum to an amount equivalent to one-fourth of 1 per centum per annum, permitted the Commissioner to make the reduced premium charge applicable to each insured mort… · (c)
• Pub. L. 87–70, §102(b)(1), (2), substituted "eligibility of the loan or mortgage" for "eligibility of the mortgage", and "approved financial institution or approved mortgagee" for "approved mortgagee" in two places. · (e)
• Pub. L. 87–70 §102(b)(3), added subsec. (k). · (k)

1959

• Pub. L. 86–372, §102(a), increased maximum amount of the principal obligation for one-family residences from $20,000 to $22,500, and for two-family residences from $20,000 to $25,000, increased the maximum amount of loans over $13,500 from 85 per centum of the value in excess of $13… · (b)
• Pub. L. 86–372, §102(b), inserted proviso making the 85 per centum limitation inapplicable if the mortgagor and mortgagee assume responsibility for the reduction of the mortgage by an amount not less than 15 per centum of the outstanding principal amount thereof in the event the mor… · (b)
• Pub. L. 86–372, §103, increased maximum amount of the principal obligation from $8,000 to $9,000, inserted parenthetical clause, and struck out provisions that limited the total amount of insurance outstanding at any one time for farm homes to not more than $100,000,000. · (i)
• Pub. L. 86–372, §809, added subsec. (j). · (j)

1958

• Pub. L. 85–364 substituted "$13,500" for "$10,000" in two places. · (b)

1957

• Pub. L. 85–104, §101(a), increased maximum amount of loan from 95 per centum of the first $9,000 plus 75 per centum of excess above $9,000, to 97 per centum of the first $10,000 plus 85 per centum of the next $6,000 and 70 per centum of the remainder, and struck out provisions autho… · (b)
• Pub. L. 85–104, §101(b), added pars. (8) and (9). · (b), (9)
• Pub. L. 85–104, §106, repealed provisions which related to insurance of mortgages on farm properties. · (d)
• Pub. L. 85–104, §101(c), amended provisions generally, and, among other changes, increased maximum loan from $6,650 to $8,000, and from 95 per centum to 97 per centum of value, and substituted provisions that mortgage obligation shall not exceed 85 per centum of value if mortgagor is n… · (i)