FEDERAL · 12 U.S.C. · Chapter 13
Mortgage proceeds fraudulently misappropriated by mortgagor; recovery of deficiency after foreclosure
12 U.S.C. § 1701l–1
This text of 12 U.S.C. § 1701l–1 (Mortgage proceeds fraudulently misappropriated by mortgagor; recovery of deficiency after foreclosure) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
12 U.S.C. § 1701l–1.
Text
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.
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Source Credit
History
(Pub. L. 93–383, title VIII, §819, Aug. 22, 1974, 88 Stat. 740.)
Editorial Notes
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.
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.
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Bluebook (online)
12 U.S.C. § 1701l–1, Counsel Stack Legal Research, https://law.counselstack.com/usc/12/1701l–1.