12 U.S.C. § 2707 : US Code - Section 2707: Authority of Secretary

Search 12 U.S.C. § 2707 : US Code - Section 2707: Authority of Secretary

(a) Rules and regulations
The Secretary is authorized to make such rules and regulations as
may be necessary to carry out the provisions of this chapter.
(b) Payment of expenses and charges relating to acquisition,
handling, improvement, or disposal of real and personal property
Notwithstanding any other provision of law relating to the
acquisition, handling, improvement, or disposal of real or other
property by the United States, the Secretary shall have power, for
the protection of the interest of the fund authorized under this
chapter, to pay out of such fund all expenses or charges in
connection with the acquisition, handling, improvement, or disposal
of any property, real or personal, acquired by the Secretary as a
result of recoveries under security, subrogation, or other rights.
(c) Powers with respect to property rights held by Secretary
In the performance of, with respect to, the functions, powers,
and duties vested in the Secretary by this chapter, the Secretary
shall -
(1) have the power, notwithstanding any other provision of law,
whether before or after default, to provide by contract or
otherwise for the extinguishment upon default of any redemption,
equitable, legal, or other right, title in any mortgage, deed,
trust, or other instrument held by or held on behalf of the
Secretary under the provisions of this chapter; and
(2) have the power to foreclose on any property or commence any
action to protect or enforce any right conferred upon the
Secretary by law, contract, or other agreement, and bid for and
purchase at any foreclosure or other sale any property in
connection with which assistance has been provided pursuant to
this chapter. In the event of any such acquisition, the Secretary
may, notwithstanding any other provision of law relating to the
acquisition, handling, or disposal of real property by the United
States, complete, remodel and convert, dispose of, lease, and
otherwise deal with, such property. Notwithstanding any other
provision of law, the Secretary also shall have power to pursue
to final collection by way of compromise or otherwise all claims
acquired by him in connection with any security, subrogation, or
other rights obtained by him in administering this chapter.