In the case of any mortgagee which would otherwise be eligible to participate in the program authorized under section 2704 of this title but does not qualify for an advance or advances as authorized by section 2712  of this title or under section 1430, 1430b, or 1431 of this title or otherwise elects not to participate in the program authorized under section 2704 of this title, the Secretary is authorized to make repayable emergency mortgage relief payments directly to such mortgagee on behalf of homeowners whose mortgages are held by such financial institution and who are delinquent in their mortgage payments.
12 U.S. Code § 2705. Emergency mortgage relief payments
(a) Direct payments to mortgagee
(b) Mortgages eligible; terms and conditions
(c) Processing of relief payments; power of Secretary