Editorial Notes
References in Text

Section 501 of the Emergency Home Finance Act of 1970, referred to in subsec. (a), is section 501 of Pub. L. 91–351, which is set out as a note below.


1984—Subsec. (d)(2). Pub. L. 98–479, § 204(a)(14), redesignated subpars. (1), (2), and (3) as subpars. (A), (B), and (C), respectively.

Subsec. (j)(3)(ii). Pub. L. 98–479, § 204(a)(15), substituted “; and” for period at end.

Statutory Notes and Related Subsidiaries
Congressional Findings and Declaration of Purpose

Pub. L. 91–351, title V, § 501, July 24, 1970, 84 Stat. 458, provided that:

“The Congress finds that—
periodic episodes of monetary stringency and high interest rates make it extremely difficult for families of middle income to obtain mortgage credit at rates which they can afford to pay;
periods of monetary stringency and high interest rates are directly related to the Government’s monetary and fiscal policies;
a disproportionate share of the burden of sustaining these anti-inflationary policies of the Government falls on families of middle income who are buyers or prospective buyers of homes; and
the Government has a responsibility to lessen the disproportionate burden which such families bear as a result of such policies.
It is the purpose of this title [enacting this section, and amending sections 1715z–3 and 1719 of this title] to provide, during periods of high mortgage interest rates, a source of mortgage credit for such families which is within their financial means.”