12 U.S.C. § 1715 — Statistical and economic surveys

Page 581 TITLE 12—BANKS AND BANKING § 1715 this section [amending this section and section 1715y of this title] shall not apply with respect to mortgages in- sured by the Secretary of Housing and Urban Develop- ment before the date of the enactment of this Act [Nov. 30, 1983].’’ EFFECTIVE DATE OF 1981 AMENDMENT Amendment by Pub. L. 97–35 effective Oct. 1, 1981, see section 371 of Pub. L. 97–35, set out as an Effective Date note under section 3701 of this title. EFFECTIVE DATE OF 1954 AMENDMENT Amendment by section 112(b) of act Aug. 2, 1954, as not applicable in any case where the mortgage involved was insured or the commitment for the insurance was issued prior to Aug. 2, 1954, see section 112(e) of that act, set out as a note under section 1710 of this title. REPEALS The directory language of, but not the amendment made by, Pub. L. 90–301, § 3(b), May 7, 1968, 82 Stat. 114, cited as a credit to this section, was repealed by Pub. L. 98–181, title I [title IV, § 404(a)], Nov. 30, 1983, 97 Stat. 1208. REGULATIONS Pub. L. 102–550, title V, § 509(h), Oct. 28, 1992, 106 Stat. 3783, provided that: ‘‘The Secretary of Housing and Urban Development shall issue regulations necessary to carry out the amendments made by subsections (a) through (g) [amending this section and sections 1715e, 1715k, 1715l, 1715v, and 1715y of this title], which shall take effect not later than the expiration of the 1-year period beginning on the date of the enactment of this Act [Oct. 28, 1992].’’ DELEGATION OF PROCESSING OF MORTGAGE INSURANCE Pub. L. 101–625, title III, § 328, Nov. 28, 1990, 104 Stat. 4138, as amended by Pub. L. 102–242, title II, § 226, Dec. 19, 1991, 105 Stat. 2307, provided that: ‘‘(a) AUTHORITY.—Not later than the expiration of the 60-day period beginning on the date of enactment this Act [Nov. 28, 1990], the Secretary of Housing and Urban Development shall implement a system of mortgage in- surance for mortgages insured under section 207, 221, 223, 232, or 241 of the National Housing Act [12 U.S.C. 1713, 1715l, 1715n, 1715w, 1715z–6] that delegates proc- essing functions to selected approved mortgagees or other individuals and entities expressly approved by the Department of Housing and Urban Development. Under such system, the Secretary shall retain the au- thority to approve rents, expenses, property appraisals, and mortgage amounts and to execute a firm commit- ment. ‘‘(b) FULL INSURANCE PROGRAM.—Notwithstanding subsection (a), the Secretary shall maintain a viable system for full insurance programs under such Act [this chapter] under which all processing functions are performed by officers and employees of the Department of Housing and Urban Development.’’ LIMITATION ON NUMBER OF DWELLING UNITS WITH MORTGAGES NOT PROVIDING FOR COMPLETE AMORTI- ZATION Pub. L. 98–181, title I [title IV, § 446(f)], Nov. 30, 1983, 97 Stat. 1228, provided that: ‘‘The aggregate number of dwelling units included in properties covered by mort- gages insured pursuant to the authority granted in the amendments made by this section [amending sections 1713, 1715k, 1715l, and 1715v of this title] in any fiscal year may not exceed 10,000.’’ AMENDMENTS TO PROVISIONS FOR FAMILY UNIT LIMITS ON RENTAL HOUSING; EQUITABLE APPLICATION OF SUCH AMENDMENTS OR PRE-AMENDMENT PROVISIONS TO PROJECTS SUBMITTED FOR CONSIDERATION PRIOR TO SEPTEMBER 2, 1964 Pub. L. 88–560, title I, § 107(g), Sept. 2, 1964, 78 Stat. 776, as amended by Pub. L. 90–19, § 21(a), May 25, 1967, 81 Stat. 25, provided that if the Secretary of Housing and Urban Development determined that it would be in- equitable to apply the provisions of the National Hous- ing Act as amended by section 107 [amending sections 1713, 1715e, 1715k, 1715l, 1715v, and 1748h–2 of this title] to a project which had been submitted for his consider- ation prior to Sept. 2, 1964, such provisions could be ap- plied to such project without regard to the amend- ments made by section 107. Executive Documents TERMINATION OF TRUST TERRITORY OF THE PACIFIC ISLANDS For termination of Trust Territory of the Pacific Is- lands, see note set out preceding section 1681 of Title 48, Territories and Insular Possessions. § 1714. Taxation Nothing in this subchapter shall be construed to exempt any real property acquired and held by the Secretary under this subchapter from taxation by any State or political subdivision thereof, to the same extent, according to its value, as other real property is taxed. (June 27, 1934, ch. 847, title II, § 208, 48 Stat. 1252; Feb. 3, 1938, ch. 13, § 3, 52 Stat. 22; Apr. 20, 1950, ch. 94, title I, § 122, 64 Stat. 59; Pub. L. 90–19, § 1(a)(3), May 25, 1967, 81 Stat. 17.) Editorial Notes AMENDMENTS 1967—Pub. L. 90–19 substituted ‘‘Secretary’’ for ‘‘Com- missioner’’. 1950—Act Apr. 20, 1950, substituted ‘‘Commissioner’’ for ‘‘Administrator’’. 1938—Act Feb. 3, 1938, corrected error in spelling of ‘‘subdivision’’. § 1715. Statistical and economic surveys The Secretary shall cause to be made in con- nection with the insurance programs such sta- tistical surveys and legal and economic studies as he shall deem useful to guide the develop- ment of housing and the creation of a sound mortgage market in the United States, and shall publish from time to time the results of such surveys and studies. Expenses of such studies and surveys, and expenses of publication and distribution of the results of such studies and surveys, shall be charged as a general expense of such insurance fund or funds, as the Secretary shall determine. (June 27, 1934, ch. 847, title II, § 209, 48 Stat. 1252; Feb. 3, 1938, ch. 13, § 3, 52 Stat. 22; Mar. 28, 1941, ch. 31, § 4(c), 55 Stat. 62; Apr. 20, 1950, ch. 94, title I, § 122, 64 Stat. 59; Pub. L. 87–70, title VI, § 612(d), June 30, 1961, 75 Stat. 181; Pub. L. 89–117, title XI, § 1108(f), Aug. 10, 1965, 79 Stat. 504; Pub. L. 90–19, § 1(a)(3), (f), May 25, 1967, 81 Stat. 17, 18.) Editorial Notes AMENDMENTS 1967—Pub. L. 90–19 substituted ‘‘Secretary’’ for ‘‘Com- missioner’’ wherever appearing and inserted ‘‘in con- nection with the insurance programs’’ after ‘‘made’’. 1965—Pub. L. 89–117 struck out ‘‘or account or ac- counts,’’ after ‘‘fund or funds,’’. 1961—Pub. L. 87–70 substituted ‘‘shall be charged as a general expense of such insurance fund or funds, or ac- Page 582 TITLE 12—BANKS AND BANKING § 1715a count or accounts, as the Commissioner shall deter- mine’’ for ‘‘shall be charged as a general expense of the Fund, the Housing Fund, and the Defense Housing In- surance Fund in such proportion as the Commissioner shall determine’’. 1950—Act Apr. 20, 1950, substituted ‘‘Commissioner’’ for ‘‘Administrator’’ wherever appearing. 1941—Act Mar. 28, 1941, substituted ‘‘Fund, the Hous- ing Fund, and the Defense Housing Insurance Fund’’ for ‘‘Fund and the Housing Fund’’. 1938—Act Feb. 3, 1938, inserted ‘‘and the Housing Fund in such proportion as the Administrator shall de- termine’’ after ‘‘Fund’’. § 1715a. Repealed. June 3, 1939, ch. 175, § 13, 53 Stat. 807 Section, act June 27, 1934, ch. 847, title II, § 210, as added by act Feb. 3, 1938, ch. 13, § 3, 52 Stat. 22, related to additional housing insurance. Statutory Notes and Related Subsidiaries APPLICATIONS PRIOR TO REPEAL Act June 3, 1939, ch. 175, § 13, 53 Stat. 807, which re- pealed this section, also provided: ‘‘That the Adminis- trator is authorized to insure under said section [this section] any mortgage for the insurance of which an ap- plication has been filed with him prior to the effective date of this act [June 3, 1939].’’ § 1715b. Rules and regulations The Secretary is authorized and directed to make such rules and regulations as may be nec- essary to carry out the provisions of this sub- chapter. (June 27, 1934, ch. 847, title II, § 211, as added Feb. 3, 1938, ch. 13, § 3, 52 Stat. 23; amended Apr. 20, 1950, ch. 94, title I, § 122, 64 Stat. 59; Pub. L. 90–19, § 1(a)(3), May 25, 1967, 81 Stat. 17.) Editorial Notes AMENDMENTS 1967—Pub. L. 90–19 substituted ‘‘Secretary’’ for ‘‘Com- missioner’’. 1950—Act Apr. 20, 1950, substituted ‘‘Commissioner’’ for ‘‘Administrator’’. Statutory Notes and Related Subsidiaries REGULATIONS Pub. L. 98–479, title I, § 104(f), Oct. 17, 1984, 98 Stat. 2226, required Secretary of Housing and Urban Develop- ment, not later than Oct. 31, 1984, to issue regulations to carry out amendments made to section 1715z–7 of this title by section 436 of Housing and Urban-Rural Re- covery Act of 1983, Pub. L. 98–181, title I [titles I–V]. § 1715c. Labor standards (a) The Secretary shall not insure under sec- tion 1713 or section 1715a of this title or under section 1743 of this title pursuant to any applica- tion for insurance filed subsequent to the effec- tive date of this section, or under section 1715e of this title, or under subchapter VII pursuant to any application filed subsequent to sixty days after April 20, 1950, or under section 1748b or 1748h–2 of this title, or under section 1750g of this title, a mortgage or investment which cov- ers property on which there is or is to be located a dwelling or dwellings, or a housing project, the construction of which was or is to be com- menced subsequent to such date, unless the prin- cipal contractor files a certificate or certificates (at such times, in course of construction or oth- erwise, as the Secretary may prescribe) certi- fying that the laborers and mechanics employed in the construction of the dwelling or dwellings or the housing project involved have been paid not less than the wages prevailing in the local- ity in which the work was performed for the cor- responding classes of laborers and mechanics employed on construction of a similar char- acter, as determined by the Secretary of Labor, in accordance with sections 3141–3144, 3146, and 3147 of title 40, prior to the beginning of con- struction and after the date of the filing of the application for insurance. The provisions of this section shall also apply to the insurance of any loan or mortgage under section 1715k or section 1715x of this title which covers property on which there is located a dwelling or dwellings designed principally for residential use for twelve or more families. The provisions of this section shall apply to the insurance under sec- tion 1715l of this title of any mortgage described in subsection (d)(3) or (d)(4) and (deeming the term ‘‘construction’’ as used in the first sen- tence of this subsection to mean rehabilitation) of any mortgage described in subsection (h)(1) or section 1715z(j)(1) of this title which covers prop- erty on which there is located a dwelling or dwellings designed principally for residential use for more than eight families; except that compliance with such provisions may be waived by the Secretary— (1) with respect to mortgages described in such subsection (d)(3) or (d)(4), in cases or classes of cases where laborers or mechanics (not otherwise employed at any time in the construction of the project) voluntarily do- nate their services without compensation for the purpose of lowering their housing costs in a cooperative housing project and the Sec- retary determines that any amounts saved thereby are fully credited to the cooperative undertaking the construction, and (2) with respect to mortgages described in such subsection (h)(1) or section 1715z(j)(1) of this title, in cases or classes of cases where prospective owners of such dwellings, volun- tarily donate their services without compensa- tion, or other persons (not otherwise employed at any time in the rehabilitation of the prop- erty) voluntarily donate their services with- out compensation, and the Secretary deter- mines that any amounts saved thereby are fully credited to the nonprofit organization undertaking the rehabilitation. The provisions of this section shall also apply to the insurance of any mortgage under sections 1715v, 1715w, or 1715z–1 of this title except that compliance with such provisions may be waived by the Secretary in cases or classes of cases where laborers or mechanics, not otherwise em- ployed at any time on the project, voluntarily donate their services without full compensation for the purpose of lowering the costs of con- struction and the Secretary determines that any amounts thereby saved are fully credited to the nonprofit corporation, association, or other or- ganization undertaking the construction. The provisions of this section shall also apply to the insurance of any mortgage under section