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United States Code (Last Updated: May 24, 2014) |
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Title 12. BANKS AND BANKING |
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Chapter 13. NATIONAL HOUSING |
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SubChapter II. MORTGAGE INSURANCE |
§ 1715z–13a. Loan guarantees for Indian housing
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(a) Authority To provide access to sources of private financing to Indian families, Indian housing authorities, and Indian tribes, who otherwise could not acquire housing financing because of the unique legal status of Indian lands, the Secretary may guarantee not to exceed 100 percent of the unpaid principal and interest due on any loan eligible under subsection (b) of this section made to an Indian family, Indian housing authority, or Indian tribe.
(b) Eligible loans Loans guaranteed pursuant to this section shall meet the following requirements: (1) Eligible borrowers The loans shall be made only to borrowers who are Indian families, Indian housing authorities, or Indian tribes.
(2) Eligible housing The loan shall be used to construct, acquire, refinance, or rehabilitate 1- to 4-family dwellings that are standard housing and are located on trust land or land located in an Indian or Alaska Native area.
(3) Security The loan may be secured by any collateral authorized under existing Federal law or applicable State or tribal law.
(4) Lenders The loan shall be made only by a lender approved by and meeting qualifications established by the Secretary, except that loans otherwise insured or guaranteed by an agency of the Federal Government or made by an organization of Indians from amounts borrowed from the United States shall not be eligible for guarantee under this section. The following lenders are deemed to be approved under this paragraph: (A) Any mortgagee approved by the Secretary of Housing and Urban Development for participation in the single family mortgage insurance program under title II of the National Housing Act [12 U.S.C. 1707 et seq.]. (B) Any lender whose housing loans under chapter 37 of title 38 are automatically guaranteed pursuant to section 1802(d) review, decisionmaking, and action under the National Environmental Policy Act of 1969 (42 U.S.C. 4321 et seq.) and any other law that furthers the purposes of that Act, a loan guarantee under this section shall— (1) be treated as a grant under the Native American Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 4101 et seq.); and (2) be subject to the regulations promulgated by the Secretary to carry out section 105 of the Native American Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 4115). (l) Definitions For purposes of this section: (1) The term “family” means 1 or more persons maintaining a household, as the Secretary shall by regulation provide. (2) The term “Guarantee Fund” means the Indian Housing Loan Guarantee Fund established under subsection (i) of this section. (3) The term “Indian” means person recognized as being Indian or Alaska Native by an Indian tribe, the Federal Government, or any State. (4) The term “Indian area” means the area within which an Indian housing authority or Indian tribe is authorized to provide housing. (5) The term “Indian housing authority” means any entity that— (A) is authorized to engage in or assist in the development or operation of— (i) low-income housing for Indians; or (ii) housing subject to the provisions of this section; and (B) is established— (i) by exercise of the power of self-government of an Indian tribe independent of State law; or (ii) by operation of State law providing specifically for housing authorities for Indians, including regional housing authorities in the State of Alaska. The term includes tribally designated housing entities under the Native American Housing Assistance and Self-Determination Act of 1996 [25 U.S.C. 4101 et seq.]. (6) The term “Secretary” means the Secretary of Housing and Urban Development. (7) The term “standard housing” means a dwelling unit or housing that complies with the requirements established under subsection (j) of this section. (8) Tribe; indian tribe.— The term “tribe” or “Indian tribe” means any Indian tribe, band, nation, or other organized group or community of Indians, including any Alaska Native village or regional or village corporation as defined in or established pursuant to the Alaska Native Claims Settlement Act [43 U.S.C. 1601 et seq.], that is recognized as eligible for the special programs and services provided by the United States to Indians because of their status as Indians pursuant to the Indian Self-Determination and Education Assistance Act of 1975 [25 U.S.C. 450 et seq.]. (9) The term “trust land” means land title to which is held by the United States for the benefit of an Indian or Indian tribe or title to which is held by an Indian tribe subject to a restriction against alienation imposed by the United States.
References In Text
The National Housing Act, referred to in subsec. (b)(4)(A), is act June 27, 1934, ch. 847, 48 Stat. 1246, as amended. Title II of the Act is classified generally to subchapter II (§ 1707 et seq.) of this chapter. For complete classification of this Act to the Code, see section 1701 of this title and Tables.
The Housing Act of 1949, referred to in subsec. (b)(4)(C), is act July 15, 1949, ch. 338, 63 Stat. 413, as amended, which is classified principally to chapter 8A (§ 1441 et seq.) of Title 42, The Public Health and Welfare. For complete classification of this Act to the Code, see Short Title note set out under section 1441 of Title 42 and Tables.
The National Environmental Policy Act of 1969, referred to in subsec. (k), is Pub. L. 91–190,
The Native American Housing Assistance and Self-Determination Act of 1996, referred to in subsecs. (k)(1) and (l)(5), is Pub. L. 104–330,
The Alaska Native Claims Settlement Act, referred to in subsec. (l)(8), is Pub. L. 92–203,
The Indian Self-Determination and Education Assistance Act, referred to in subsec. (l)(8), is Pub. L. 93–638,
Codification
Section was enacted as part of the Housing and Community Development Act of 1992, and not as part of the National Housing Act which comprises this chapter.
Amendments
2013—Subsec. (d). Pub. L. 113–6 amended subsec. (d) generally. Prior to amendment, text read as follows: “The Secretary shall fix and collect a guarantee fee for the guarantee of loans under this section, which may not exceed the amount equal to 1 percent of the principal obligation of the loan. The fee shall be paid by the lender at time of issuance of the guarantee and shall be adequate, in the determination of the Secretary, to cover expenses and probable losses. The Secretary shall deposit any fees collected under this subsection in the Indian Housing Loan Guarantee Fund established under subsection (i) of this section.”
2007—Subsec. (i)(5)(C),(7). Pub. L. 110–37 substituted “fiscal years 2008 through 2012” for “fiscal years 1997 through 2007”.
2002—Subsec. (i)(5)(C), (7). Pub. L. 107–292 substituted “each of fiscal years 1997 through 2007” for “each fiscal year”.
2000—Subsec. (a). Pub. L. 106–377, § 1(a)(1) [title II, § 227(1)], struck out “or as a result of a lack of access to private financial markets” after “legal status of Indian lands”.
Subsec. (b)(2). Pub. L. 106–377, § 1(a)(1) [title II, § 227(2)], inserted “refinance,” after “acquire,”.
Subsec. (i)(5)(C). Pub. L. 106–568, § 1002(1), and Pub. L. 106–569, § 502(1), amended par. (5) identically, adding subpar. (C) and striking out heading and text of former subpar. (C). Text read as follows: “Subject to the limitations in subparagraphs (A) and (B), the Secretary may enter into commitments to guarantee loans under this section in each of fiscal years 1997, 1998, 1999, 2000, and 2001 with an aggregate outstanding principal amount not exceeding $400,000,000 for each such fiscal year.”
Subsec. (i)(7). Pub. L. 106–568, § 1002(2), and Pub. L. 106–569, § 502(2), amended par. (7) identically, substituting “each fiscal year” for “each of fiscal years 1997, 1998, 1999, 2000, and 2001”.
1998—Subsec. (b)(2). Pub. L. 105–276, § 595(e)(11), struck out before period at end “that is under the jurisdiction of an Indian tribe for which an Indian housing plan has been submitted and approved pursuant to sections 102 and 103 of the Native American Housing Assistance and Self-Determination Act of 1996 that provides for the use of loan guarantees under this section to provide affordable homeownership housing in such areas.”
Subsec. (i)(5)(C). Pub. L. 105–276, § 595(e)(12), substituted “not” for “note”.
Subsecs. (k), (l). Pub. L. 105–276, § 595(e)(13), added subsec. (k) and redesignated former subsec. (k) as (l).
1996—Subsec. (a). Pub. L. 104–330, § 701(a)(1), (b), substituted “, Indian housing authorities, and Indian tribes,” for “and Indian housing authorities”, “lands or as a result of a lack of access to private financial markets” for “trust land”, and “, Indian housing authority, or Indian tribe” for “or Indian housing authority”.
Subsec. (b)(1). Pub. L. 104–330, § 701(a)(2), substituted “, Indian housing authorities, or Indian tribes” for “or Indian housing authorities”.
Subsec. (b)(2). Pub. L. 104–330, § 701(c), inserted before period at end “that is under the jurisdiction of an Indian tribe for which an Indian housing plan has been submitted and approved pursuant to sections 102 and 103 of the Native American Housing Assistance and Self-Determination Act of 1996 that provides for the use of loan guarantees under this section to provide affordable homeownership housing in such areas”.
Subsec. (b)(5)(C)(i). Pub. L. 104–330, § 701(i), added cl. (i) and struck out former cl. (i) which read as follows: “an amount equal to the sum of (I) 97 percent of $25,000 of the appraised value of the property, as of the date the loan is accepted for guarantee, and (II) 95 percent of such value in excess of $25,000; and”.
Subsec. (h)(1)(A)(i). Pub. L. 104–330, § 701(d)(1)(A), struck out “in a court of competent jurisdiction” after “foreclosure proceedings” in first sentence.
Subsec. (h)(1)(A)(ii). Pub. L. 104–330, § 701(d)(1)(B), added cl. (ii) and struck out heading and text of former cl. (ii). Text read as follows: “Without seeking a judicial foreclosure (or in any case in which a foreclosure proceeding initiated under clause (i) continues for a period in excess of 1 year), the holder of the guarantee may submit to the Secretary a claim for payment under the guarantee and the Secretary shall only pay to such holder for a loss on any single loan an amount equal to 90 percent of the pro rata portion of the amount guaranteed (as determined under subsection (e) of this section). The Secretary shall be subrogated to the rights of the holder of the guarantee and the holder shall assign the obligation and security to the Secretary.”
Subsec. (h)(2), (3). Pub. L. 104–330, § 701(d)(2), (3), (e), redesignated par. (3) as (2), in first sentence substituted “restricted Indian land, the mortgagee or” for “tribal allotted or trust land,”, in second sentence substituted “mortgagee or the Secretary” for “Secretary” in two places, and struck out heading and text of former par. (2). Text read as follows: “Notwithstanding paragraph (1), upon receiving notice of default on a loan guaranteed under this section from the holder of the guarantee, the Secretary may accept assignment of the loan if the Secretary determines that the assignment is in the best interests of the United States. Upon assignment the Secretary shall pay to the holder of the guarantee the pro rata portion of the amount guaranteed (as determined under subsection (e) of this section). The Secretary shall be subrogated to the rights of the holder of the guarantee and the holder shall assign the obligation and security to the Secretary.”
Subsec. (i)(5)(A). Pub. L. 104–330, § 701(j)(1), added subpar. (A) and struck out heading and text of former subpar. (A). Text read as follows: “The authority of the Secretary to enter into commitments to guarantee loans under this section shall be effective for any fiscal year only to the extent or in such amounts as are or have been provided in appropriations Acts for such fiscal year.”
Subsec. (i)(5)(B). Pub. L. 104–330, § 701(j)(2), inserted at end “Any amounts appropriated pursuant to this subparagraph shall remain available until expended.”
Subsec. (i)(5)(C). Pub. L. 104–330, § 701(f), substituted “1997, 1998, 1999, 2000, and 2001 with an aggregate outstanding principal amount note exceeding $400,000,000 for each such fiscal year” for “1993 and 1994 with an aggregate outstanding principal amount not exceeding such amount as may be provided in appropriation Acts for each such year”.
Subsec. (i)(7). Pub. L. 104–330, § 701(g), substituted “such sums as may be necessary for each of fiscal years 1997, 1998, 1999, 2000, and 2001” for “such sums as may be necessary for fiscal year 1993 and $50,000,000 for fiscal year 1994”.
Subsec. (k)(4). Pub. L. 104–330, § 701(h)(1), inserted “or Indian tribe” after “authority”.
Subsec. (k)(5). Pub. L. 104–330, § 701(h)(2), inserted concluding provisions, added subpar. (A), and struck out former subpar. (A) which read as follows: “is authorized to engage in or assist in the development or operation of low-income housing for Indians; and”.
Subsec. (k)(8). Pub. L. 104–330, § 701(h)(3), added par. (8) and struck out former par. (8) which read as follows: “The term ‘tribe’ means any tribe, band, pueblo, group, community, or nation of Indians or Alaska Natives.”
Effective Date Of Amendment
Pub. L. 105–276, title V, § 595(f),