7 U.S.C. § 1933 : US Code - Section 1933: Guaranteed rural housing loans; Hawaiian home lands

Search 7 U.S.C. § 1933 : US Code - Section 1933: Guaranteed rural housing loans; Hawaiian home lands

(a) Rural Housing Loans which (1) are guaranteed by the Secretary
under section 517(a)(2) (!1) of the Housing Act of 1949 [42 U.S.C.
1487(a)(2)], (2) are made by other lenders approved by the
Secretary to provide dwellings in rural areas for the applicants'
own use, and (3) bear interest and other charges at rates not above
the maximum rates prescribed by the Secretary of Housing and Urban
Development for loans made by private lenders for similar purposes
and guaranteed by the Secretary of Housing and Urban Development
under the National Housing Act [12 U.S.C. 1701 et seq.] or
superseding legislation shall not be subject to sections 501(c) and
502(b)(3) of the Housing Act of 1949 [42 U.S.C. 1471(c) and
1472(b)(3)].
(b) For the purposes of title V of the Housing Act of 1949 [42
U.S.C. 1471 et seq.] or this chapter, a guarantee of payment given
under the color of law by the Department of Hawaiian Home Lands (or
its successor in function) shall be found by the Secretary
reasonably to assure repayment of any indebtedness so guaranteed.