12 U.S.C. § 1701l1 — Mortgage proceeds fraudulently misappropriated by mortgagor; recovery of deficiency after foreclosure
U.S.C. Title 12 - BANKS AND BANKING 12 U.S.C. United States Code, 2023 Edition Title 12 - BANKS AND BANKING CHAPTER 13 - NATIONAL HOUSING Sec. 1701l-1 - Mortgage proceeds fraudulently misappropriated by mortgagor; recovery of deficiency after foreclosure From the U.S. Government Publishing Office, www.gpo.gov
§1701l–1. Mortgage proceeds fraudulently misappropriated by mortgagor; recovery of deficiency after foreclosure
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.
(Pub. L. 93–383, title VIII, §819, Aug. 22, 1974, 88 Stat. 740.)
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.