FHA Modernization Act of 2008

Pub. L. 110–289

Also known as: HOPE for Homeowners Act of 2008, Foreclosure Prevention Act of 2008, Housing Assistance Tax Act of 2008, S.A.F.E. Mortgage Licensing Act of 2008, Housing and Economic Recovery Act of 2008, Building American Homeownership Act of 2008, Housing Tax Credit Coordination Act of 2008, Mortgage Disclosure Improvement Act of 2008, Federal Housing Finance Regulatory Reform Act of 2008, FHA Manufactured Housing Loan Modernization Act of 2008, Small Public Housing Authorities Paperwork Reduction Act, Secure and Fair Enforcement for Mortgage Licensing Act of 2008

US Codex doesn’t hold the enacted text of this law — the public-law corpus runs from the 113th Congress (2013) onward. What it changed in the U.S. Code, reconstructed from the credit notes, is listed below.

233 sections of the Code credited to this law, found between Public Law 110-180 and Public Law 110-460.

• 11 U.S.C. § 783 — Additional powers of trustee
• 12 U.S.C. § 24 — Corporate powers of associations
• 12 U.S.C. § 250 — Independence of financial regulatory agencies
• 12 U.S.C. § 338a — Investments to promote public welfare and community development; limitation on investments
• 12 U.S.C. § 1422 — Definitions
• 12 U.S.C. § 1423 — Federal Home Loan Bank districts; number and boundaries; establishment of Federal Home Loan Banks; names
• 12 U.S.C. § 1424 — Eligibility for membership
• 12 U.S.C. § 1426 — Capital structure of Federal home loan banks
• 12 U.S.C. § 1426a — Exclusion from certain requirements
• 12 U.S.C. § 1427 — Directors
• 12 U.S.C. § 1428 — Examination of State laws, regulations, and procedures; studies of values, etc.
• 12 U.S.C. § 1430 — Advances to members
• 12 U.S.C. § 1430b — Advances to nonmember mortgagee; terms and conditions
• 12 U.S.C. § 1430c — Housing goals
• 12 U.S.C. § 1431 — Powers and duties of banks
• 12 U.S.C. § 1432 — Incorporation of banks; corporate powers; housing project loans
• 12 U.S.C. § 1435 — Obligations as lawful investments; liability of United States for debentures, etc., issued by banks
• 12 U.S.C. § 1436 — Reserves and dividends; emergency suspensions of requirements
• 12 U.S.C. § 1438 — Administrative expenses
• 12 U.S.C. § 1440 — Examinations and audits
• 12 U.S.C. § 1440a — Sharing of information among Federal Home Loan Banks
• 12 U.S.C. § 1441 — Financing Corporation
• 12 U.S.C. § 1441a — Thrift Depositor Protection Oversight Board and Resolution Trust Corporation
• 12 U.S.C. § 1441b — Resolution Funding Corporation established
• 12 U.S.C. § 1442 — Member financial information
• 12 U.S.C. § 1443 — Forms of bank stock and obligations
• 12 U.S.C. § 1444 — Eligibility to membership in banks
• 12 U.S.C. § 1445 — Succession of Federal Home Loan Banks
• 12 U.S.C. § 1446 — Liquidation or reorganization; acquisition of assets by other banks; assumption of liabilities
• 12 U.S.C. § 1452 — Federal Home Loan Mortgage Corporation
• 12 U.S.C. § 1454 — Purchase and sale of mortgages; residential mortgages; conventional mortgages; terms and conditions of sale or other disposition; authority to enter into, perform, and carry out transactions
• 12 U.S.C. § 1455 — Obligations and securities of the Corporation
• 12 U.S.C. § 1456 — Immunity of Corporation; audits and reporting requirements; data collection; Housing Advisory Council
• 12 U.S.C. § 1701q — Supportive housing for the elderly
• 12 U.S.C. § 1701x — Assistance with respect to housing for low- and moderate-income families
• 12 U.S.C. § 1701z-16 — 1701z–16. Energy efficient mortgages pilot program
• 12 U.S.C. § 1701z-17 — 1701z–17. Increasing access and understanding of energy efficient mortgages
• 12 U.S.C. § 1703 — Insurance of financial institutions
• 12 U.S.C. § 1706f — Prohibition against kickbacks and unearned fees
• 12 U.S.C. § 1707 — Definitions
• 12 U.S.C. § 1708 — Federal Housing Administration operations
• 12 U.S.C. § 1709 — Insurance of mortgages
• 12 U.S.C. § 1711 — General Surplus and Participating Reserve Accounts
• 12 U.S.C. § 1715r — Requirement of builder's cost certification; definitions
• 12 U.S.C. § 1715s — Treatment of mortgages covering tax credit projects
• 12 U.S.C. § 1715y — Mortgage insurance for condominiums
• 12 U.S.C. § 1715z-12 — 1715z–12. Single-family mortgage insurance on Hawaiian home lands
• 12 U.S.C. § 1715z-13 — 1715z–13. Single family mortgage insurance on Indian reservations
• 12 U.S.C. § 1715z-20 — 1715z–20. Insurance of home equity conversion mortgages for elderly homeowners
• 12 U.S.C. § 1715z-23 — 1715z–23. HOPE for Homeowners Program
• 12 U.S.C. § 1715z-24 — 1715z–24. Pilot program for automated process for borrowers without sufficient credit history
• 12 U.S.C. § 1717 — Federal National Mortgage Association and Government National Mortgage Association
• 12 U.S.C. § 1718 — Capitalization of Federal National Mortgage Association
• 12 U.S.C. § 1719 — Secondary market operations
• 12 U.S.C. § 1723 — Management
• 12 U.S.C. § 1723a — General powers of Government National Mortgage Association and Federal National Mortgage Association
• 12 U.S.C. § 1735c — General Insurance Fund
• 12 U.S.C. § 1787 — Payment of insurance
• 12 U.S.C. § 1813 — Definitions
• 12 U.S.C. § 1820 — Administration of Corporation
• 12 U.S.C. § 1821 — Insurance Funds
• 12 U.S.C. § 1822 — Corporation as receiver
• 12 U.S.C. § 1831o — Prompt corrective action
• 12 U.S.C. § 1833e — Equal opportunity
• 12 U.S.C. § 3413 — Exceptions
• 12 U.S.C. § 4502 — Definitions
• 12 U.S.C. § 4511 — Establishment of the Federal Housing Finance Agency
• 12 U.S.C. § 4512 — Director
• 12 U.S.C. § 4513 — Duties and authorities of Director
• 12 U.S.C. § 4513a — Federal Housing Finance Oversight Board
• 12 U.S.C. § 4513b — Prudential management and operations standards
• 12 U.S.C. § 4514 — Authority to require reports by regulated entities
• 12 U.S.C. § 4514a — Study and reports on guarantee fees
• 12 U.S.C. § 4515 — Personnel
• 12 U.S.C. § 4516 — Funding
• 12 U.S.C. § 4517 — Examinations
• 12 U.S.C. § 4518 — Prohibition and withholding of executive compensation
• 12 U.S.C. § 4519 — Authority to provide for review of regulated entities
• 12 U.S.C. § 4520 — Minority and women inclusion; diversity requirements
• 12 U.S.C. § 4521 — Annual reports by Director
• 12 U.S.C. § 4523 — Limitation on subsequent employment
• 12 U.S.C. § 4524 — Audits by GAO
• 12 U.S.C. § 4525 — Information, records, and meetings
• 12 U.S.C. § 4526 — Regulations and orders
• 12 U.S.C. § 4541 — Prior approval authority for products
• 12 U.S.C. § 4542 — Housing Price Index
• 12 U.S.C. § 4543 — Public access to mortgage information
• 12 U.S.C. § 4544 — Annual housing report
• 12 U.S.C. § 4545 — Fair housing
• 12 U.S.C. § 4546 — Prohibition of public disclosure of proprietary information
• 12 U.S.C. § 4561 — Establishment of housing goals
• 12 U.S.C. § 4562 — Single-family housing goals
• 12 U.S.C. § 4563 — Multifamily special affordable housing goal
• 12 U.S.C. § 4564 — Discretionary adjustment of housing goals
• 12 U.S.C. § 4565 — Duty to serve underserved markets and other requirements
• 12 U.S.C. § 4566 — Monitoring and enforcing compliance with housing goals
• 12 U.S.C. § 4567 — Affordable housing allocations
• 12 U.S.C. § 4568 — Housing Trust Fund
• 12 U.S.C. § 4569 — Capital Magnet Fund
• 12 U.S.C. § 4581 — Cease and desist proceedings
• 12 U.S.C. § 4582 — Hearings
• 12 U.S.C. § 4583 — Judicial review
• 12 U.S.C. § 4584 — Enforcement and jurisdiction
• 12 U.S.C. § 4585 — Civil money penalties
• 12 U.S.C. § 4586 — Public disclosure of final orders and agreements
• 12 U.S.C. § 4587 — Notice of service
• 12 U.S.C. § 4588 — Subpoena authority
• 12 U.S.C. § 4611 — Risk-based capital levels for regulated entities
• 12 U.S.C. § 4612 — Minimum capital levels
• 12 U.S.C. § 4613 — Critical capital levels
• 12 U.S.C. § 4614 — Capital classifications
• 12 U.S.C. § 4615 — Supervisory actions applicable to undercapitalized regulated entities
• 12 U.S.C. § 4616 — Supervisory actions applicable to significantly undercapitalized regulated entities
• 12 U.S.C. § 4617 — Authority over critically undercapitalized regulated entities
• 12 U.S.C. § 4618 — Notice of classification and enforcement action
• 12 U.S.C. § 4622 — Capital restoration plans
• 12 U.S.C. § 4623 — Judicial review of Director action
• 12 U.S.C. § 4624 — Reviews of enterprise assets and liabilities
• 12 U.S.C. § 4631 — Cease-and-desist proceedings
• 12 U.S.C. § 4632 — Temporary cease-and-desist orders
• 12 U.S.C. § 4633 — Hearings
• 12 U.S.C. § 4634 — Judicial review
• 12 U.S.C. § 4635 — Enforcement and jurisdiction
• 12 U.S.C. § 4636 — Civil money penalties
• 12 U.S.C. § 4636a — Removal and prohibition authority
• 12 U.S.C. § 4636b — Criminal penalty
• 12 U.S.C. § 4637 — Notice after separation from service
• 12 U.S.C. § 4638 — Private rights of action
• 12 U.S.C. § 4639 — Public disclosure of final orders and agreements
• 12 U.S.C. § 4640 — Notice of service
• 12 U.S.C. § 4641 — Subpoena authority
• 12 U.S.C. § 4642 — Reporting of fraudulent loans
• 12 U.S.C. § 4716 — Studies and reports; examination and audit
• 12 U.S.C. § 5101 — Purposes and methods for establishing a mortgage licensing system and registry
• 12 U.S.C. § 5102 — Definitions
• 12 U.S.C. § 5103 — License or registration required
• 12 U.S.C. § 5104 — State license and registration application and issuance
• 12 U.S.C. § 5105 — Standards for State license renewal
• 12 U.S.C. § 5106 — System of registration administration by Federal agencies
• 12 U.S.C. § 5107 — Secretary of Housing and Urban Development backup authority to establish a loan originator licensing system
• 12 U.S.C. § 5108 — Backup authority to establish a nationwide mortgage licensing and registry system
• 12 U.S.C. § 5109 — Fees
• 12 U.S.C. § 5110 — Background checks of loan originators
• 12 U.S.C. § 5111 — Confidentiality of information
• 12 U.S.C. § 5112 — Liability provisions
• 12 U.S.C. § 5113 — Enforcement under HUD backup licensing system
• 12 U.S.C. § 5114 — State examination authority
• 12 U.S.C. § 5115 — Reports and recommendations to Congress
• 12 U.S.C. § 5116 — Study and reports on defaults and foreclosures
• 15 U.S.C. § 78oo — Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Federal Home Loan Banks
• 15 U.S.C. § 1638 — Transactions other than under an open end credit plan
• 15 U.S.C. § 1639a — Fiduciary duty of servicers of pooled residential mortgages
• 15 U.S.C. § 1640 — Civil liability
• 15 U.S.C. § 7215 — Investigations and disciplinary proceedings
• 18 U.S.C. § 212 — Offer of loan or gratuity to financial institution examiner
• 18 U.S.C. § 657 — Lending, credit and insurance institutions
• 18 U.S.C. § 1006 — Federal credit institution entries, reports and transactions
• 18 U.S.C. § 1014 — Loan and credit applications generally; renewals and discounts; crop insurance
• 18 U.S.C. § 1905 — Disclosure of confidential information generally
• 26 U.S.C. § 26 — Limitation based on tax liability; definition of tax liability
• 26 U.S.C. § 36 — First-time homebuyer credit
• 26 U.S.C. § 37 — Overpayments of tax
• 26 U.S.C. § 38 — General business credit
• 26 U.S.C. § 42 — Low-income housing credit
• 26 U.S.C. § 47 — Rehabilitation credit
• 26 U.S.C. § 56 — Adjustments in computing alternative minimum taxable income
• 26 U.S.C. § 57 — Items of tax preference
• 26 U.S.C. § 63 — Taxable income defined
• 26 U.S.C. § 121 — Exclusion of gain from sale of principal residence
• 26 U.S.C. § 142 — Exempt facility bond
• 26 U.S.C. § 143 — Mortgage revenue bonds: qualified mortgage bond and qualified veterans’ mortgage bond
• 26 U.S.C. § 146 — Volume cap
• 26 U.S.C. § 149 — Bonds must be registered to be tax exempt; other requirements
• 26 U.S.C. § 168 — Accelerated cost recovery system
• 26 U.S.C. § 414 — Definitions and special rules
• 26 U.S.C. § 856 — Definition of real estate investment trust
• 26 U.S.C. § 857 — Taxation of real estate investment trusts and their beneficiaries
• 26 U.S.C. § 864 — Definitions and special rules
• 26 U.S.C. § 1400N — Tax benefits for Gulf Opportunity Zone
• 26 U.S.C. § 1445 — Withholding of tax on dispositions of United States real property interests
• 26 U.S.C. § 3406 — Backup withholding
• 26 U.S.C. § 6050W — Returns relating to payments made in settlement of payment card and third party network transactions
• 26 U.S.C. § 6211 — Definition of a deficiency
• 26 U.S.C. § 6724 — Waiver; definitions and special rules
• 31 U.S.C. § 1324 — Refund of internal revenue collections
• 31 U.S.C. § 3101 — Public debt limit
• 37 U.S.C. § 406 — Travel and transportation allowances: dependents; baggage and household effects
• 38 U.S.C. § 1717 — Home health services; invalid lifts and other devices
• 38 U.S.C. § 2101 — Acquisition and adaptation of housing: eligible veterans
• 38 U.S.C. § 2101A — Eligibility for benefits and assistance: members of the Armed Forces with service-connected disabilities; individuals residing outside the United States
• 38 U.S.C. § 2102 — Limitations on assistance furnished
• 38 U.S.C. § 2102A — Assistance for individuals residing temporarily in housing owned by a family member
• 38 U.S.C. § 2103 — Furnishing of plans and specifications
• 38 U.S.C. § 2104 — Benefits additional to benefits under other laws
• 38 U.S.C. § 2106 — Veterans’ mortgage life insurance
• 42 U.S.C. § 1437a — Rental payments
• 42 U.S.C. § 1437c-1 — 1437c–1. Public housing agency plans
• 42 U.S.C. § 1437f — Low-income housing assistance
• 42 U.S.C. § 1437g — Public housing Capital and Operating Funds
• 42 U.S.C. § 1437z-8 — 1437z–8. Collection of information on tenants in tax credit projects
• 42 U.S.C. § 1485 — Housing and related facilities for elderly persons and families or other persons and families of low income
• 42 U.S.C. § 3534 — Transfer of functions
• 42 U.S.C. § 3545 — HUD accountability
• 42 U.S.C. § 4012a — Flood insurance purchase and compliance requirements and escrow accounts
• 42 U.S.C. § 11403f-1 — 11403f–1. Term of contract with owner or lessor
• 42 U.S.C. § 11403g — Definitions
• 42 U.S.C. § 11403h — Authorization of appropriations
• 42 U.S.C. § 11404 — Authority
• 42 U.S.C. § 11405 — Authority
• 42 U.S.C. § 11405b — Term of contract and amount of assistance
• 42 U.S.C. § 11406 — Authority
• 42 U.S.C. § 11407 — Authority
• 42 U.S.C. § 11407b — Contract requirements
• 42 U.S.C. § 11432 — Grants for State and local activities for the education of homeless children and youths
• 42 U.S.C. § 11435 — Authorization of appropriations
• 44 U.S.C. § 3502 — Definitions
• 47 U.S.C. § 1103 — Approval of loan guarantees
• 5 U.S.C. § 3132 — Definitions and exclusions
• 5 U.S.C. § 5313 — Positions at level II
• 50A U.S.C. § 527 — Maximum rate of interest on debts incurred before military service
• 50A U.S.C. § 533 — Mortgages and trust deeds
• 5A U.S.C. § 12 — Definitions
• 12 U.S.C. § 1701z–16 — Energy efficient mortgages pilot program
• 12 U.S.C. § 1701z–17 — Increasing access and understanding of energy efficient mortgages
• 12 U.S.C. § 1715z–12 — Single-family mortgage insurance on Hawaiian home lands
• 12 U.S.C. § 1715z–13 — Single family mortgage insurance on Indian reservations
• 12 U.S.C. § 1715z–20 — Insurance of home equity conversion mortgages for elderly homeowners
• 12 U.S.C. § 1715z–23 — HOPE for Homeowners Program
• 12 U.S.C. § 1715z–24 — Pilot program for automated process for borrowers without sufficient credit history
• 42 U.S.C. § 1437c–1 — Public housing agency plans
• 42 U.S.C. § 1437z–8 — Collection of information on tenants in tax credit projects
• 50 U.S.C. § 3937 — Maximum rate of interest on debts incurred before military service
• 50 U.S.C. § 3953 — Mortgages and trust deeds