12 USC 1701l-1: Mortgage proceeds fraudulently misappropriated by mortgagor; recovery of deficiency after foreclosure
Result 1 of 1
   
 
<< Previous   TITLE 12 / CHAPTER 13 / § 1701l-1   Next >>
 

*Public Law 119-60 has been enacted, but classifications have not been finalized. The currency ("laws in effect") date does not reflect acts for which classifications have not been finalized.

12 USC 1701l-1: Mortgage proceeds fraudulently misappropriated by mortgagor; recovery of deficiency after foreclosure Text contains those laws in effect on January 10, 2026
From Title 12-BANKS AND BANKINGCHAPTER 13-NATIONAL HOUSING
Jump To: Source CreditMiscellaneousCodification

§1701l–1. Mortgage proceeds fraudulently misappropriated by mortgagor; recovery of deficiency after foreclosure

The Secretary of Housing and Urban Development shall take action to secure the payment of any deficiency after foreclosure on a mortgage insured or assisted under Federal law where the Secretary has reason to believe that the mortgage proceeds have been fraudulently misappropriated by the mortgagor.

( Pub. L. 93–383, title VIII, §819, Aug. 22, 1974, 88 Stat. 740 .)


Editorial Notes

Codification

Section was enacted as part of the Housing and Community Development Act of 1974, and not as part of the National Housing Act which comprises this chapter.