Each change will be made by adding to each such quantity (as it might have been formerly adjusted) a percentage thereof equal to the portion increase, during the most current 12-month or 4-quarter period ending before the time of figuring out such yearly change, in the housing rate index maintained by the Director of the Federal Housing Finance Agency (pursuant to section 4542 of this title). If the change in such home rate index throughout the most current 12-month or 4-quarter period ending before the time of identifying such annual modification is a reduction, then no adjustment will be made for the next year, and the next change shall take into consideration previous decreases in your house rate index, so that any change will show the net modification in the home price index because the last modification. Declines in the home price index will be accumulated and then reduce boosts till subsequent boosts surpass prior declines." for "Such restrictions will not exceed $93,750 for a mortgage secured by a single-family house, $120,000 for a mortgage secured by a two-family home, $145,000 for a mortgage secured by a three-family home, and $180,000 for a mortgage secured by a four-family home, other than that such optimum restrictions shall be adjusted efficient January 1 of each year starting with 1981. Each such modification shall be made by contributing to each such amount (as it might have been previously adjusted) a portion thereof equivalent to the portion increase throughout the twelve-month duration ending with the previous October in the nationwide typical one-family home cost in the regular monthly survey of all major loan providers carried out 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 read as follows: "With respect to mortgages protected by residential or commercial property consisting of 5 or more household home units, such restrictions will not exceed 125 per centum of the dollar amounts stated in section 207(c)( 3) of the National Housing Act, other than that such restrictions may be increased by the Corporation (taking into account building and construction 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 area that expense levels need any increase in the dollar amount restrictions 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 is subject to default loss protection that the Corporation determines is economically equal or exceptional, on a specific or pooled basis, to the security provided by clause (C) of this sentence: Provided, That if the Director of the Office of Federal Housing Enterprise Oversight consequently discovers that such default loss security determined by the Corporation does not supply such equal or exceptional defense, the Corporation shall offer such additional default loss protection for such mortgage, as approved by the Director of the Office of Federal Housing Enterprise Oversight, essential to provide such equivalent or superior security." for the duration at end, was rescinded by Pub. L. 105-277, efficient upon enactment of Pub. L. 105-276.

1992-Subsec. (a)( 1 ). Pub. L. 102-550, § 1382(j), in very 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 banks the deposits or accounts of which are guaranteed by a firm of the United States, or from any banks the deposits or accounts of which are guaranteed under the laws of any State if the total amount of time and cost savings deposits kept in all such institutions because State is more than 20 per centum of the total quantity of such deposits in all banks, structure and loan, cost savings and loan, and homestead associations (including cooperative banks) because State or from any mortgagee authorized by the Secretary of Housing and Urban Development for participation in any mortgage insurance coverage program under the National Housing Act or from any utility performing 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 gotten in order to fund the purchase and installation of property energy preservation procedures (as specified in section 210( 11) of the National Energy Conservation Policy Act) in domestic property." and in second sentence, replaced a duration for ", and the servicing on any such mortgage may be performed by the seller or by a banks qualified as a seller under the arrangements of the preceding sentence, or by a mortgagee authorized by the Secretary of Housing and Urban Development for participation 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), included subsec. (c) and set out previous subsec. (c) which read as follows: "The Board of Directors may not enforce 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), substituted "Resolution Trust Corporation" for "Federal Savings and Loan Insurance Corporation" and inserted at end "Nothing in this section licenses the Corporation to enforce any charge or fee upon any mortgagee authorized by the Secretary of Housing and Urban Development for participation 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), replaced "Resolution Trust Corporation" for "Federal Savings and Loan Insurance Corporation".

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

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

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

1987-Subsec. (a)( 4 )(A)(i). Pub. L. 100-200 replaced "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 replaced "November 15, 1987" for "October 31, 1987".

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

1984-Subsec. (a)( 2 ). Pub. L. 98-440, § 205(b), which directed insertion of "secured by a residential or commercial property comprising one- to four-family house units" after "mortgages" where very first appearing in first sentence was performed by inserting that expression after "No traditional mortgage" as the probable intent of Congress.

Pub. L. 98-440, § 201(b), substituted "The Corporation will develop constraints governing the maximum original principal commitment of traditional mortgages that are bought by it; in any case in which the Corporation purchases a participation interest in such a mortgage, the limitation shall be determined with respect to the overall initial principal responsibility of the mortgage and not merely with respect to the interest bought by the Corporation" for "The Corporation shall establish limitations governing the optimum primary responsibility of traditional mortgages purchased by it".

Pub. L. 98-440, § 206(b), placed provision that the constraints stated in area 1713(c)( 3) of this title may be increased by the Corporation (taking into account building costs) to not to surpass 240 per centum of such dollar quantities in any geographical area for which the Secretary of Housing and Urban Development figures out under such area that expense levels needed any boost in the dollar amount limitations under such area.

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

1981-Subsec. (a)( 1 ). Pub. L. 97-110, § 203, added the Federal Deposit Insurance Corporation and the National Credit Union Administration to the enumeration of companies from which the Federal Mortgage Mortgage Corporation is licensed to purchase domestic mortgages.

Subsec. (a)( 2 ). Pub. 97-110, § 202(a), replaced arrangements authorizing the Corporation to buy a traditional 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 Credit Union Administration, or any other seller currently engaged in mortgage loaning or investing activities for arrangements which had licensed the Corporation to buy a traditional mortgage which was originated more than one year prior to the purchase date only if the seller was presently participated in mortgage loaning or investing activities and if, as an outcome thereof, the cumulative aggregate of the principal balances of all traditional mortgages acquired by the Corporation which were stemmed more than one year prior to the date of purchases did not go beyond 20 per centum of the cumulative aggregate of the primary balances of all conventional mortgages acquired by the Corporation.

Pub. L. 97-110, § 202(b)( 1 ), placed provision that, with regard to any deal in which a seller contemporaneously sells mortgages originated more than one years of age prior to the date of sale to the Corporation and gets in payment for such mortgages securities representing undivided interests just in those mortgages, the Corporation will not impose any charge or charge upon a qualified seller which is not a member of a Federal Mortgage Bank which differs from that imposed upon an eligible 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 firms having the authority to participate in and to carry out and bring out deals and matters described in this area.

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

Subsec. (a)( 2 ). Pub. L. 96-399 inserted arrangements setting forth constraints appreciating mortgages protected by a single-family home, and so on, and struck out provisions making the constraints stated in very first proviso of very first sentence of area 1464(c) of this title.

1978-Subsec. (a)( 1 ). Pub. L. 95-557 inserted reference to any mortgagee authorized by the Secretary of Housing and Urban Development at end of very first sentence, and placed last five sentences relating to imposition of charges or fees for various classes of sellers or servicers, etc 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 relating 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 arrangements associating with the servicing of any such mortgage by the seller or qualified banks.

Subsec. (a)( 2 ). Pub. L. 93-383, § 805(b), replaced "80" for "75" in two places and "not exceed 20" for "not go beyond 10", struck out "personal" before "insurer" in cl. (C), and substituted provisions connecting to constraints consisted of in first proviso of very first sentence of section 1464(c) of this title, for provisions relating to limitations appropriate if the mortgage were guaranteed by the Secretary under area 1709(b) or 1713 of this title.