Each change will be made by including to each such amount (as it may have been previously adjusted) a portion thereof equivalent to the portion increase, throughout the most current 12-month or 4-quarter duration ending before the time of determining such annual change, in the housing rate index kept by the Director of the Federal Housing Finance Agency (pursuant to section 4542 of this title). If the change in such home cost index during the most recent 12-month or 4-quarter duration ending before the time of determining such annual change is a decrease, then no modification shall be produced the next year, and the next change shall consider previous declines in your home cost index, so that any modification shall show the net change in your home rate index given that the last modification. Declines in the house price index shall be accumulated and then decrease boosts till subsequent increases exceed previous decreases." for "Such restrictions will not exceed $93,750 for a mortgage secured by a single-family home, $120,000 for a mortgage protected by a two-family home, $145,000 for a mortgage secured by a three-family residence, and $180,000 for a mortgage protected by a four-family home, other than that such maximum constraints shall be changed efficient January 1 of each year starting with 1981. Each such change shall be made by including to each such amount (as it might have been formerly changed) a portion thereof equal to the percentage increase throughout the twelve-month period ending with the previous October in the national average one-family home price in the regular monthly study of all major lending institutions conducted by the Federal Housing Finance Board." and inserted last sentence.

1998-Subsec. (a)( 2 ). Pub. L. 105-276, § 582(a)( 14 ), struck out penultimate sentence which checked out as follows: "With regard to mortgages secured by residential or commercial property making up five or more household residence units, such limitations will not exceed 125 per centum of the dollar amounts set forth in area 207(c)( 3) of the National Housing Act, other than that such constraints might be increased by the Corporation (taking into account building costs) to not to exceed 240 per centum of such dollar amounts in any geographical location for which the Secretary of Housing and Urban Development identifies under such section that expense levels need any boost in the dollar amount constraints under such area."

Pub. L. 105-276, § 202(a), which directed the change of the first sentence of par. (2) by setting out "or" at end of cl. (B) and replacing "; or (D) the mortgage goes through default loss defense that the Corporation figures out is financially equivalent or superior, on a specific or pooled basis, to the protection provided by provision (C) of this sentence: Provided, That if the Director of the Office of Federal Housing Enterprise Oversight consequently finds that such default loss defense determined by the Corporation does not provide such equivalent or remarkable security, the Corporation will supply such extra default loss protection for such mortgage, as approved by the Director of the Office of Federal Housing Enterprise Oversight, required to provide such equal or superior protection." for the period at end, was repealed by Pub. L. 105-277, reliable upon enactment of Pub. L. 105-276.

1992-Subsec. (a)( 1 ). Pub. L. 102-550, § 1382(j), in first sentence, substituted a duration for "from any Federal mortgage bank, the Resolution Trust Corporation, the Federal Deposit Insurance Corporation, the National Cooperative Credit Union Administration, any member of a Federal mortgage bank, or any other monetary institution the deposits or accounts of which are insured by an agency of the United States, or from any banks the deposits or accounts of which are insured under the laws of any State if the total quantity of time and savings deposits kept in all such organizations in that State is more than 20 per centum of the overall amount of such deposits in all banks, building and loan, savings and loan, and homestead associations (consisting of cooperative banks) because State or from any mortgagee approved by the Secretary of Housing and Urban Development for involvement in any mortgage insurance program under the National Housing Act or from any utility bring out activities in accordance with the requirements of title II of the National Energy Conservation Policy Act if the domestic mortgage to be purchased is a loan or advance of credit the initial earnings of which are looked for in order to fund the purchase and installation of residential energy conservation steps (as specified in area 210( 11) of the National Energy Conservation Policy Act) in residential realty." and in 2nd sentence, substituted a duration for ", and the servicing on any such mortgage might be performed by the seller or by a banks qualified as a seller under the provisions of the preceding sentence, or by a mortgagee authorized by the Secretary of Housing and Urban Development for involvement in any mortgage insurance program under the National Housing Act, with which institution or mortgagee the seller may contract."

Subsec. (a)( 2 ). Pub. L. 102-550, § 1382(k), replaced "Hawaii, and the Virgin Islands" for "and Hawaii" in last sentence.

Subsec. (c). Pub. L. 102-550, § 1382(l), (m), added subsec. (c) and set out former subsec. (c) which checked out as follows: "The Board of Directors might not impose any annual limitation on the optimum aggregate principal quantity of mortgages purchased by the Corporation."

1989-Subsec. (a)( 1 ). Pub. L. 101-73, § 731(e)( 1 ), (f)( 2 )(A), replaced "Resolution Trust Corporation" for "Federal Savings and Loan Insurance Corporation" and inserted at end "Nothing in this area licenses the Corporation to impose any charge or charge upon any mortgagee authorized by the Secretary of Housing and Urban Development for involvement in any mortgage insurance coverage program under the National Housing Act entirely due to the fact that of such status."

Subsec. (a)( 2 ). Pub. L. 101-73, § 731(f)( 2 ), replaced "Resolution Trust Corporation" for "Federal Savings and Loan Insurance Corporation" and "Federal Housing Finance Board" for "Federal Mortgage Bank Board".

Subsec. (a)( 5 ). Pub. L. 101-73, § 731(e)( 2 ), included par. (5 ).

Subsec. (b). Pub. L. 101-73, § 731(f)( 2 )(A), substituted "Resolution Trust Corporation" for "Federal Savings and Loan Insurance Corporation".

1988-Subsec. (a)( 4 )(A)(i). Pub. L. 100-242, § 443(b), started out "through March 15, 1988," before "residential mortgages".

Subsec. (a)( 4 )(A)(ii). Pub. L. 100-628 struck out "up until October 1, 1985," before "property mortgages".

Subsec. (c). Pub. L. 100-242, § 445, included subsec. (c).

1987-Subsec. (a)( 4 )(A)(i). Pub. L. 100-200 substituted "March 15, 1988" for "December 16, 1987".

Pub. L. 100-179 replaced "December 16, 1987" for "December 2, 1987".

Pub. L. 100-170 substituted "December 2, 1987" for "November 15, 1987".

Pub. L. 100-154 substituted "November 15, 1987" for "October 31, 1987".

Pub. L. 100-122 replaced "through October 31, 1987" for "up until October 1, 1987".

1984-Subsec. (a)( 2 ). Pub. L. 98-440, § 205(b), which directed insertion of "protected by a residential or commercial property consisting of one- to four-family dwelling systems" after "mortgages" where first appearing in first sentence was executed by placing that expression after "No conventional mortgage" as the probable intent of Congress.

Pub. L. 98-440, § 201(b), replaced "The Corporation shall develop constraints governing the maximum original principal obligation of traditional mortgages that are acquired by it; in any case in which the Corporation purchases an involvement interest in such a mortgage, the limitation will be calculated with regard to the overall initial primary responsibility of the mortgage and not merely with regard to the interest purchased by the Corporation" for "The Corporation will establish constraints governing the optimum primary responsibility of conventional mortgages purchased by it".

Pub. L. 98-440, § 206(b), placed provision that the constraints set forth in section 1713(c)( 3) of this title might be increased by the Corporation (taking into consideration construction costs) to not to surpass 240 per centum of such dollar quantities in any geographical location for which the Secretary of Housing and Urban Development determines under such section that expense levels needed any increase in the dollar quantity restrictions under such area.

Subsec. (a)( 4 ). Pub. L. 98-440, § 203(b)( 2 ), added par. (4 ).

1981-Subsec. (a)( 1 ). Pub. L. 97-110, § 203, included the Federal Deposit Insurance Corporation and the National Cooperative Credit Union Administration to the enumeration of agencies from which the Federal Mortgage Mortgage Corporation is authorized to purchase residential mortgages.

Subsec. (a)( 2 ). Pub. 97-110, § 202(a), substituted arrangements authorizing the Corporation to buy a standard mortgage which was stemmed more than one year prior to the purchase date just if the seller is the Federal Deposit Insurance Corporation, the Federal Savings and Loan Insurance Corporation, the National Cooperative Credit Union Administration, or any other seller currently taken part in mortgage loaning or investing activities for provisions which had actually licensed the Corporation to purchase a standard mortgage which was stemmed more than one year prior to the purchase date just if the seller was presently participated in mortgage loaning or investing activities and if, as a result thereof, the cumulative aggregate of the primary balances of all standard mortgages purchased by the Corporation which were stemmed more than one year prior to the date of purchases did not exceed 20 per centum of the cumulative aggregate of the principal balances of all traditional mortgages purchased by the Corporation.

Pub. L. 97-110, § 202(b)( 1 ), inserted arrangement that, with respect to any deal in which a seller contemporaneously offers mortgages stemmed more than one years of age previous to the date of sale to the Corporation and receives in payment for such mortgages securities representing concentrated interests only in those mortgages, the Corporation shall not enforce any fee or charge upon an eligible seller which is not a member of a Federal Mortgage Bank which differs from that enforced upon a qualified seller which is such a member.

Subsec. (b). Pub. L. 97-110, § 203, included the Federal Deposit Insurance Corporation and the National Credit Union Administration to the enumeration of companies having the authority to participate in and to perform and bring out transactions and matters described in this area.

1980-Subsec. (a)( 1 ). Pub. L. 96-294 placed arrangements connecting to utilities performing activities in accordance with the requirements of title II of the National Energy Conservation Policy Act.

Subsec. (a)( 2 ). Pub. L. 96-399 placed provisions stating limitations appreciating mortgages secured by a single-family residence, etc, and started out arrangements making the restrictions set forth in first proviso of first sentence of section 1464(c) of this title.

1978-Subsec. (a)( 1 ). Pub. L. 95-557 inserted recommendation to any mortgagee authorized by the Secretary of Housing and Urban Development at end of very first sentence, and inserted last 5 sentences relating to imposition of charges or costs for different classes of sellers or servicers, and so on 1977-Subsec. (a)( 2 ). Pub. L. 95-128 placed "by more than 25 per centum" after "surpass" in last sentence.

1974-Subsec. (a)( 1 ). Pub. L. 93-495 placed provisions connecting to State insurance coverage of deposits or accounts in financial organizations.

Pub. L. 93-383, § 805(a), substituted ". The Corporation may hold" for ", and to hold" and inserted provisions associating with the maintenance of any such mortgage by the seller or certified monetary institution.

Subsec. (a)( 2 ). Pub. L. 93-383, § 805(b), replaced "80" for "75" in 2 locations and "not exceed 20" for "not surpass 10", set out "private" before "insurance company" in cl. (C), and replaced provisions associating with restrictions included in first proviso of very first sentence of section 1464(c) of this title, for provisions connecting to constraints applicable if the mortgage were guaranteed by the Secretary under section 1709(b) or 1713 of this title.