12 USC § 1712a - Indexing of FHA multifamily housing loan limits | Title 12 - Banks and Banking | U.S. Code

USCPrelim is a preliminary release and may be subject to further revision before it is released again as a final version.

Current through Pub. L. 113-99. (See Public Laws for the current Congress.)

(a) Method of indexing

The dollar amounts set forth in—

(1) section 1713 (c)(3)(A) of this title;

(2) section 1715e (b)(2)(A) of this title;

(3) section 1715k (d)(3)(B)(iii)(I) of this title;

(4) section 1715l (d)(3)(ii)(I) of this title;

(5) section 1715l (d)(4)(ii)(I) of this title;

(6) section 1715v (c)(2)(A) of this title; and

(7) section 1715y (e)(3)(A) of this title;

(collectively hereinafter referred to as the “Dollar Amounts”) shall be adjusted annually (commencing in 2004) on the effective date of the Federal Reserve Board’s adjustment of the $400 figure in the Home Ownership and Equity Protection Act of 1994 (HOEPA). The adjustment of the Dollar Amounts shall be calculated using the percentage change in the Consumer Price Index for All Urban Consumers (CPI–U) as applied by the Federal Reserve Board for purposes of the above-described HOEPA adjustment.

(b) Notification

The Federal Reserve Board on a timely basis shall notify the Secretary, or his designee, in writing of the adjustment described in subsection (a) of this section and of the effective date of such adjustment in order to permit the Secretary to undertake publication in the Federal Register of corresponding adjustments to the Dollar Amounts. The dollar amount of any adjustment shall be rounded to the next lower dollar.

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(a) Method of indexing

The dollar amounts set forth in—

(1) section 1713 (c)(3)(A) of this title;

(2) section 1715e (b)(2)(A) of this title;

(3) section 1715k (d)(3)(B)(iii)(I) of this title;

(4) section 1715l (d)(3)(ii)(I) of this title;

(5) section 1715l (d)(4)(ii)(I) of this title;

(6) section 1715v (c)(2)(A) of this title; and

(7) section 1715y (e)(3)(A) of this title;

(collectively hereinafter referred to as the “Dollar Amounts”) shall be adjusted annually (commencing in 2004) on the effective date of the Federal Reserve Board’s adjustment of the $400 figure in the Home Ownership and Equity Protection Act of 1994 (HOEPA). The adjustment of the Dollar Amounts shall be calculated using the percentage change in the Consumer Price Index for All Urban Consumers (CPI–U) as applied by the Federal Reserve Board for purposes of the above-described HOEPA adjustment.

(b) Notification

The Federal Reserve Board on a timely basis shall notify the Secretary, or his designee, in writing of the adjustment described in subsection (a) of this section and of the effective date of such adjustment in order to permit the Secretary to undertake publication in the Federal Register of corresponding adjustments to the Dollar Amounts. The dollar amount of any adjustment shall be rounded to the next lower dollar.

Source

(June 27, 1934, ch. 847, title II, § 206A, as added Pub. L. 107–326, § 5(a),Dec. 4, 2002, 116 Stat. 2794.)

References in Text

The Home Ownership and Equity Protection Act of 1994, referred to in subsec. (a), is subtitle B (§§ 151–158) of title I of Pub. L. 103–325, Sept. 23, 1994, 108 Stat. 2190, which enacted sections 1639 and 1648 of Title 15, Commerce and Trade, amended sections 1602, 1604, 1610, 1640, 1641, and 1647 of Title 15, and enacted provisions set out as notes under sections 1601 and 1602 of Title 15. For complete classification of this Act to the Code, see Short Title of 1994 Amendment note set out under section 1601 of Title 15 and Tables.

The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.

The most recent Classification Table update that we have noticed was Friday, May 3, 2013

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12 USC	Description of Change	Session Year	Public Law	Statutes at Large

This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.

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24 CFR - Title 24—Housing and Urban Development

24 CFR Part 200 - INTRODUCTION TO FHA PROGRAMS

12 USC § 1712a - Indexing of FHA multifamily housing loan limits

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