---
kind: "section"
citation: "12 U.S.C. § 5220b"
title: "12"
title_heading: "Banks and Banking"
number: "5220b"
heading: "Multifamily mortgage resolution program"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/5220b"
units:
  - "Chapter 52 — Emergency Economic Stabilization"
  - "Subchapter I — Troubled Assets Relief Program"
---

# §5220b. Multifamily mortgage resolution program

- (a) **Establishment—** The [Secretary](/usc/12/5202.md?p=7) of Housing and Urban Development shall develop a program under this subsection to ensure the protection of current and future tenants and at-risk multifamily properties, where feasible, based on criteria that may include—
  - (1) creating sustainable financing of such properties, that may take into consideration such factors as—
    - (A) the rental income generated by such properties; and
    - (B) the preservation of adequate operating reserves;
  - (2) maintaining the level of Federal, [State](/usc/12/1707.md?p=d), and city subsidies in effect as of July 21, 2010;
  - (3) providing [funds](/usc/12/5202.md?p=6) for rehabilitation; and
  - (4) facilitating the transfer of such properties, when appropriate and with the agreement of owners, to responsible new owners and ensuring affordability of such properties.
- (b) **Coordination—** The [Secretary](/usc/12/5202.md?p=7) of Housing and Urban Development may, in carrying out the program developed under this section, coordinate with the [Secretary](/usc/12/5202.md?p=7) of the Treasury, the Federal Deposit Insurance [Corporation](/usc/12/5202.md?p=4), the [Board](/usc/12/5202.md?p=2) of Governors of the Federal Reserve System, the Federal Housing Finance Agency, and any other Federal Government agency that the [Secretary](/usc/12/5202.md?p=7) considers appropriate.
- (c) **Definition—** For purposes of this section, the term “multifamily properties” means a residential structure that consists of 5 or more dwelling units.
- (d) **Prevention of qualification for criminal applicants—**
  - (1) **In general—** No [person](/usc/12/5481.md?p=19) shall be eligible to begin receiving assistance from the Making Home Affordable Program authorized under the Emergency Economic Stabilization Act of 2008 ([12 U.S.C. 5201](/usc/12/5201.md) et seq.), or any other [mortgage](/usc/12/1707.md?p=a) assistance program authorized or funded by that Act, on or after 60 days after July 21, 2010, if such [person](/usc/12/5481.md?p=19), in connection with a [mortgage](/usc/12/1707.md?p=a) or [real estate](/usc/12/1707.md?p=g) transaction, has been convicted, within the last 10 years, of any one of the following:
    - (A) Felony larceny, theft, fraud, or forgery.
    - (B) Money laundering.
    - (C) Tax evasion.
  - (2) **Procedures—** The [Secretary](/usc/12/5202.md?p=7) shall establish procedures to ensure compliance with this subsection.
  - (3) **Report—** The [Secretary](/usc/12/5202.md?p=7) shall report to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate regarding the implementation of this provision. The report shall also describe the steps taken to implement this subsection.

## Source credit

(Pub. L. 111–203, title XIV, § 1481, July 21, 2010, 124 Stat. 2202.)

## Notes

### Editorial Notes

### References in Text

The Emergency Economic Stabilization Act of 2008, referred to in subsec. (d)(1), is div. A of Pub. L. 110–343, Oct. 3, 2008, 122 Stat. 3765, which is classified principally to this chapter. For complete classification of this Act to the Code, see Short Title note set out under section 5201 of this title and Tables.

### Codification

Section was enacted as part of the Mortgage Reform and Anti-Predatory Lending Act, and also as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and not as part of the Emergency Economic Stabilization Act of 2008 which comprises this chapter.

### Statutory Notes and Related Subsidiaries

### Effective Date

Section effective on the date on which final regulations implementing such section take effect, or on the date that is 18 months after the designated transfer date if such regulations have not been issued by that date, see section 1400(c) of Pub. L. 111–203, set out as an Effective Date of 2010 Amendment note under section 1601 of Title 15, Commerce and Trade.

### Definitions

For definitions of terms contained in this section, see section 5301 of this title.