12 U.S. Code § 5220 - Assistance to homeowners
To the extent that the Federal property manager holds, owns, or controls mortgages, mortgage backed  securities, and other assets secured by residential real estate, including multifamily housing, the Federal property manager shall implement a plan that seeks to maximize assistance for homeowners and use its authority to encourage the servicers of the underlying mortgages, and considering net present value to the taxpayer, to take advantage of the HOPE for Homeowners Program under section 1715z–23 of this title or other available programs to minimize foreclosures.
Each Federal property manager shall develop and begin implementation of the plan required by this subsection not later than 60 days after October 3, 2008.
Each Federal property manager shall, 60 days after October 3, 2008, and every 30 days thereafter, report to Congress specific information on the number and types of loan modifications made and the number of actual foreclosures occurring during the reporting period in accordance with this section.
The requirements of this section shall not supersede any other duty or requirement imposed on the Federal property managers under otherwise applicable law.
 See References in Text note below.
 So in original. Probably should be “mortgage-backed”.
Sections 348a and 353 to 359 of this title, referred to in subsec. (a)(1)(C), was in the original a reference to “section 14 of the Federal Reserve Act (12 U.S.C. 353)”. For classification of section 14 to the Code, see Codification note set out under section 353 of this title.
Pub. L. 111–22, div. A, title VII, § 702, May 20, 2009, 123 Stat. 1660, as amended by Pub. L. 111–203, title XIV, § 1484(1), July 21, 2010, 124 Stat. 2204, which related to the effect of foreclosure on a preexisting tenancy, was repealed by Pub. L. 111–22, div. A, title VII, § 704, May 20, 2009, 123 Stat. 1662, as amended by Pub. L. 111–203, title XIV, § 1484(2), July 21, 2010, 124 Stat. 2204, set out as a Termination Date of 2009 Amendment note under section 1437f of Title 42, The Public Health and Welfare, effective Dec. 31, 2014.
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