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Notes

§4541. Prior approval authority for products — Inbound Citations

12 U.S.C. § 4541

Implementing Regulations (Code of Federal Regulations)

Statutory authority for 11 regulations in the Code of Federal Regulations.

Code of Federal Regulations Citations

Cited by 4 regulations in the Code of Federal Regulations.

  • 12 C.F.R. § 1253.1 — Purpose and authority.
    Go to regulation →
    The purpose of this part is to establish policies and procedures implementing the prior approval authority for Enterprise products, in accordance with section 1321 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (12 U.S.C. 4541), as amended (Safety and Soundness Act).
  • 12 C.F.R. § 1253.11 — Preservation of authority.
    Go to regulation →
    The Director's exercise of the Director's authority pursuant to the prior approval authority for products under 12 U.S.C. 4541, and this regulation, in no way restricts:
  • 12 C.F.R. § 1253.5(b) — Notice of new activity.
    Go to regulation →
    (b) In support of its notice of new activity, the Enterprise shall submit thorough, complete, and specific information as described under § 1253.9(a). FHFA will evaluate the notice of new activity to determine if the submission contains sufficient information to enable the Director to determine whether the new activity is a new product subject to prior approval. Once FHFA makes the determination that the submission is complete, FHFA will notify the Enterprise that the submission is “received” for purposes of 12 U.S.C. 4541(e)(2)(B).
  • 12 C.F.R. § 1253.6(a)(3) — Request for prior approval of a new product; public notice; standards for approval.
    Go to regulation →
    (3) FHFA will evaluate the request to determine if the submission contains sufficient information for FHFA to prepare a public notice such that the public will be able to provide fully informed comments on the new product. Once FHFA makes the determination that the submission is complete, FHFA will notify the Enterprise that the submission is “received” for purposes of 12 U.S.C. 4541(c)(2).

United States Code Citations

Cited by 4 provisions in release 119-102.

Citations to §4541(a)

  • 12 U.S.C. § 4541(e)(1)
    Go to provision →
    (1) The requirements of subsections (a) through (d) do not apply with respect to—
    (A) the automated loan underwriting system of an enterprise in existence as of July 30, 2008, including any upgrade to the technology, operating system, or software to operate the underwriting system;
    (B) any modification to the mortgage terms and conditions or mortgage underwriting criteria relating to the mortgages that are purchased or guaranteed by an enterprise, provided that such modifications do not alter the underlying transaction so as to include services or financing, other than residential mortgage financing; or
    (C) any other activity that is substantially similar, as determined by rule of the Director to—
    (i) the activities described in subparagraphs (A) and (B); and
    (ii) other activities that have been approved by the Director in accordance with this section.

Citations to §4541(b)

  • 12 U.S.C. § 4541(e)(1)
    Go to provision →
    (1) The requirements of subsections (a) through (d) do not apply with respect to—
    (A) the automated loan underwriting system of an enterprise in existence as of July 30, 2008, including any upgrade to the technology, operating system, or software to operate the underwriting system;
    (B) any modification to the mortgage terms and conditions or mortgage underwriting criteria relating to the mortgages that are purchased or guaranteed by an enterprise, provided that such modifications do not alter the underlying transaction so as to include services or financing, other than residential mortgage financing; or
    (C) any other activity that is substantially similar, as determined by rule of the Director to—
    (i) the activities described in subparagraphs (A) and (B); and
    (ii) other activities that have been approved by the Director in accordance with this section.

Citations to §4541(c)

  • 12 U.S.C. § 4541(e)(1)
    Go to provision →
    (1) The requirements of subsections (a) through (d) do not apply with respect to—
    (A) the automated loan underwriting system of an enterprise in existence as of July 30, 2008, including any upgrade to the technology, operating system, or software to operate the underwriting system;
    (B) any modification to the mortgage terms and conditions or mortgage underwriting criteria relating to the mortgages that are purchased or guaranteed by an enterprise, provided that such modifications do not alter the underlying transaction so as to include services or financing, other than residential mortgage financing; or
    (C) any other activity that is substantially similar, as determined by rule of the Director to—
    (i) the activities described in subparagraphs (A) and (B); and
    (ii) other activities that have been approved by the Director in accordance with this section.

Citations to §4541(d)

  • 12 U.S.C. § 4541(e)(1)
    Go to provision →
    (1) The requirements of subsections (a) through (d) do not apply with respect to—
    (A) the automated loan underwriting system of an enterprise in existence as of July 30, 2008, including any upgrade to the technology, operating system, or software to operate the underwriting system;
    (B) any modification to the mortgage terms and conditions or mortgage underwriting criteria relating to the mortgages that are purchased or guaranteed by an enterprise, provided that such modifications do not alter the underlying transaction so as to include services or financing, other than residential mortgage financing; or
    (C) any other activity that is substantially similar, as determined by rule of the Director to—
    (i) the activities described in subparagraphs (A) and (B); and
    (ii) other activities that have been approved by the Director in accordance with this section.