Source: http://www.law.cornell.edu/uscode/text/12/3802?quicktabs_8=4
Timestamp: 2013-12-08 01:09:33
Document Index: 296079016

Matched Legal Cases: ['§ 3802', '§ 3802', '§ 3802', '§ 803', '§ 1083', '§ 1701', '§ 1083', '§ 1083', 'art 1004']

12 USC § 3802 - Definitions | Title 12 - Banks and Banking | U.S. Code | LII / Legal Information Institute
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12 USC § 3802 - Definitions
the term “alternative mortgage transaction” means a loan or credit sale secured by an interest in residential real property, a dwelling, all stock allocated to a dwelling unit in a residential cooperative housing corporation, or a residential manufactured home (as that term is defined in section 5402
(6) of title 42), in which the interest rate or finance charge may be adjusted or renegotiated, described and defined by applicable regulation; and
the term “housing creditor” means—
a depository institution, as defined in section 501(a)(2) of the Depository Institutions Deregulation and Monetary Control Act of 1980;
a lender approved by the Secretary of Housing and Urban Development for participation in any mortgage insurance program under the National Housing Act [12 U.S.C. 1701 et seq.];
any person who regularly makes loans, credit sales, or advances secured by interests in properties referred to in paragraph (1); or
any transferee of any of them.
(Pub. L. 97–320, title VIII, § 803,Oct. 15, 1982, 96 Stat. 1545; Pub. L. 111–203, title X, § 1083(a)(1),July 21, 2010, 124 Stat. 2080.)
Section 501(a)(2) of the Depository Institutions Deregulation and Monetary Control Act of 1980, referred to in par. (2)(A), is section 501(a)(2) ofPub. L. 96–221, title V, Mar. 31, 1980, 94 Stat. 161, which is set out as a note under section 1735f–7 of this title.
The National Housing Act, referred to in par. (2)(B), is act June 27, 1934, ch. 847, 48 Stat. 1246, which is classified principally to chapter 13 (§ 1701 et seq.) of this title. For complete classification of this Act to the Code, see section 1701 of this title and Tables.
2010—Par. (1). Pub. L. 111–203substituted “section 5402
(6) of title 42), in which the interest rate or finance charge may be adjusted or renegotiated, described and defined by applicable regulation; and” for “section 5402
(6) of title 42)—
“(A) in which the interest rate or finance charge may be adjusted or renegotiated;
“(B) involving a fixed-rate, but which implicitly permits rate adjustments by having the debt mature at the end of an interval shorter than the term of the amortization schedule; or
“(C) involving any similar type of rate, method of determining return, term, repayment, or other variation not common to traditional fixed-rate, fixed-term transactions, including without limitation, transactions that involve the sharing of equity or appreciation;
described and defined by applicable regulation; and”.
Pub. L. 111–203, title X, § 1083(b),July 21, 2010, 124 Stat. 2081, provided that: “This section [amending this section and section 3803 of this title and enacting provisions set out as a note under this section] and the amendments made by this section shall become effective on the designated transfer date.”
Pub. L. 111–203, title X, § 1083(c),July 21, 2010, 124 Stat. 2081, provided that: “The amendments made by subsection (a) [amending this section and section 3803 of this title] shall not affect any transaction covered by the Alternative Mortgage Transaction Parity Act of l982 (12 U.S.C. 3801 et seq.) and entered into on or before the designated transfer date.”
This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.12 CFR - Banks and Banking12 CFR Part 1004 - ALTERNATIVE MORTGAGE TRANSACTION PARITY (REGULATION D)