The law › Title 12, Banks and Banking › Chapter 13
12 U.S.C. 1715v: Insurance of mortgages for housing for elderly persons
Created in 1959 by Public Law 86-372. Changed by 20 later laws. No bill we track in this Congress changes it.
3 other sections of the Code cite this one, including 12 U.S.C. 1701s, 12 U.S.C. 1712a, 12 U.S.C. 1715r.
1 part of federal rules cite it as their authority, written by Office of Assistant Secretary for Housing—federal Housing Commissioner, Department of Housing and Urban Development (1).
- past change
- enacted this Congress
- proposed
This Congress
No bill we track in the 119th Congress changes this section.
How it got here
2007
- Pub. L. 110–161 substituted "170 percent" for "140 percent" after "not to exceed" in two places and "215 percent in high cost areas" for "170 percent in high cost areas". (Consolidated Appropriations Act, 2008) Law text · (c)
2003
- Pub. L. 108–186 substituted "140 percent in" for "110 percent in" and inserted ", or 170 percent in high cost areas," after "and by not to exceed 140 percent". Law text · (c)
2002
- Pub. L. 107–326 inserted "(A)" after "(2)" and substituted "; (B) the Secretary may, by regulation, increase any of the dollar limitations in subparagraph (A) (as such limitations may have been adjusted in accordance with section 1712a of this title)" for "; and except that the Secr… (FHA Downpayment Simplification Act of 2002) Law text · (c)
2001
- Pub. L. 107–73 substituted "$35,978", "$40,220", "$48,029", "$57,798", and "$67,950" for "$28,782", "$32,176", "$38,423", "$46,238", and "$54,360", respectively, and "$40,876", "$46,859", "$56,979", "$73,710", and "$80,913" for "$32,701", "$37,487", "$45,583", "$58,968", and "$64,73… (Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 2002) Law text · (c)
1992
- Pub. L. 102–550 substituted "$28,782", "$32,176", "$38,423", "$46,238", and "$54,360" for "$23,985", "$26,813", "$32,019", "$38,532", and "$45,300", respectively, and "$32,701", "$37,487", "$45,583", "$58,968", and "$64,730" for "$27,251", "$31,239", "$37,986", "$49,140", and "$53,9… · (c)
1988
- Pub. L. 100–242 substituted "$23,985", "$26,813", "$32,019", "$38,532", and "$45,300" for "$18,450", "$20,625", "$24,630", "$29,640", and "$34,846", respectively, and "$27,251", "$31,239", "$37,986", "$49,140", and "$53,942" for "$20,962", "$24,030", "$29,220", "$37,800", and "$41,4… · (c)
1983
- Pub. L. 98–181, §446(e), inserted "(unless otherwise approved by the Secretary)" after "periodic payments". · (c)
- Pub. L. 98–181, §404(b)(9), substituted provision that the interest rate be at such a rate as agreed upon by the mortgagor and the mortgagee for provision that the interest rate, exclusive of premium charges for insurance, not exceed 5 per centum per annum on the amount of the princ… · (c)
1982
- Pub. L. 97–377 inserted "(by not to exceed 140 per centum where the Secretary determines that a mortgage other than one purchased or to be purchased under section 1720 of this title by the Government National Mortgage Association in implementing its special assistance functions is i… · (c)
1981
- Pub. L. 97–35 inserted "therein" after "installation" and struck out "therein" after "measure". · (c)
1980
- Pub. L. 96–399 inserted proviso relating to increase of dollar amount limitations due to installation of a solar energy system. · (c)
1979
- Pub. L. 96–153 substituted "75 per centum" for "50 per centum" and inserted exception that the dollar amount limitations may be exceeded by not be exceed 90 per centum where the Secretary determines it to be necessary. · (c)
1976
- Pub. L. 94–375 substituted "50 per centum in any geographical area" for "75 per centum in any geographical area", "$18,450" for "$12,300", "$20,625" for "$17,188", "$24,630" for "$20,525", "$29,640" for "$24,700", "$34,846" for "$29,038", "$20,962" for "$13,975", "$24,030" for "$20,… · (c)
1975
- Pub. L. 94–173 raised from 45 per centum to 75 per centum the amount by which any dollar limitation may, by regulation, be increased. · (c)
1974
- Pub. L. 93–383, §304(f), struck out par. (1) which set forth limits on principal obligations of mortgages. · (c)
- Pub. L. 93–383, §303(f), substituted "$12,300" for "$8,800", "$13,975" for "$10,450", "$17,188" for "$12,375", "$20,025" for "$14,850", "$20,525" for "$14,850", "$24,350" for "$17,600", "$24,700" for "$18,700", "$29,038" for "$21,175", "$31,500" for "$22,000", and "$34,578" for "$25… · (c)
1969
- Pub. L. 91–152 substituted "$8,800" for "$8,000", "$10,450" for "$9,500", "$12,375" for "$11,250", "$14,850" for "$13,500" wherever appearing, "$17,600" for "$16,000", "$18,700" for "$17,000", "$21,175" for "$19,250", "$22,000" for "$20,000", and "$25,025" for "$22,750". · (c)
1968
- Pub. L. 90–301 increased limitation on interest rates from 5½ to 6 per centum per annum. · (c)
1967
- Pub. L. 90–19, §1(a)(3), substituted "Secretary" for "Commissioner" wherever appearing in subsecs. (b), (c)(2) to (7), (d), and (f).
- Pub. L. 90–19, §1(a)(4), substituted "Secretary's" for "Commissioner's". · (c), (4)
1965
- Pub. L. 89–117, §207(e), substituted "$17,000 per family unit with three bedrooms, and $19,250 per family unit with four or more bedrooms" for "and $17,000 per family unit with three or more bedrooms" and "$20,000 per family unit with three bedrooms, and $22,750 per family unit with… · (c)
- Pub. L. 89–117, §1108(l)(1), substituted "General Insurance Fund" for "section 207 Housing Insurance Fund". · (c)
- Pub. L. 89–117, §1108(l)(2), struck out references to subsecs. (f), (m) and (p) of section 1713 of this title. · (e)
1964
- Pub. L. 88–560, §107(e), changed limits on mortgages for property or project attributable to dwelling use from "$2,250 per room (or $9,000 per family unit if the number of rooms in such property or project is less than four per family unit)" to "$8,000 per family unit without a bedr… · (c)
- Pub. L. 88–560, §203(c), added subsec. (f). · (f)
1961
- Pub. L. 87–70 increased the maximum amount of mortgages from not more than $9,000 per dwelling unit for such part of such property or project as may be attributable to dwelling use to not more than $2,250 per room (or $9,000 per family unit if the number of rooms in such property or… · (c)
Text, outline and history from the official U.S. Code (2024 edition) on GovInfo, published by the Office of the Law Revision Counsel. Changes made after that edition appear under This Congress.