§ 2710. — Reports to Congress; time; contents.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC2710]
TITLE 12--BANKS AND BANKING
CHAPTER 28--EMERGENCY MORTGAGE RELIEF
Sec. 2710. Reports to Congress; time; contents
Within sixty days after July 2, 1975, and within each sixty-day
period thereafter prior to October 1, 1977, the Secretary shall make a
report to the Congress on (1) the current rate of delinquencies and
foreclosures in the housing market areas of the country which should be
of immediate concern if the purposes of this chapter is to be achieved;
(2) the extent of, and prospect for continuance of, voluntary
forebearance by mortgagees in such housing market areas; (3) actions
being taken by governmental agencies to encourage forebearance by
mortgagees in such housing market areas; (4) actions taken and actions
likely to be taken with respect to making assistance under this chapter
available to alleviate hardships resulting from any serious rates of
delinquencies and foreclosures; and (5) the current default status and
projected default trends with respect to mortgages covering multifamily
properties with special attention to mortgages insured under the various
provisions of the National Housing Act [12 U.S.C. 1701 et seq.] and with
recommendations on how such defaults and prospective defaults may be
cured or avoided in a manner which, while giving weight to the financial
interests of the United States, takes into full consideration the urgent
needs of the many low- and moderate-income families that currently
occupy such multifamily properties.
(Pub. L. 94-50, title I, Sec. 111, July 2, 1975, 89 Stat. 253; Pub. L.
94-375, Sec. 13(c), Aug. 3, 1976, 90 Stat. 1075.)
References in Text
The National Housing Act, referred to in text, is act June 27, 1934,
ch. 847, 48 Stat. 1246, as amended, which is classified principally to
chapter 13 (Sec. 1701 et seq.) of this title. For complete
classification of this Act to the Code, see section 1701 of this title
and Tables.
Amendments
1976--Pub. L. 94-375 substituted ``October 1, 1977'' for ``July 1,
1976''.
