12 USC 1715z-19 - Equity skimming penalty

U.S Code last checked for updates: May 02, 2024

§ 1715z–19.

Equity skimming penalty

(a)

In general

(b)

Mortgage notes described

For purposes of subsection (a), a mortgage note is described in this subsection if it—

(1)

is insured, acquired, or held by the Secretary pursuant to this chapter;

(2)

is made pursuant to section 1701q of this title (including property still subject to section 1701q program requirements that existed before November 28, 1990); or

(3)

is insured or held pursuant to section 1715z–22 of this title, but is not reinsured under section 1715z–22 of this title.

(June 27, 1934, ch. 847, title II, § 254, as added Pub. L. 100–242, title IV, § 416(b), Feb. 5, 1988, 101 Stat. 1908; amended Pub. L. 105–65, title V, § 552, Oct. 27, 1997, 111 Stat. 1412.)

cite as: 12 USC 1715z-19