United States Code
USC most recently checked for updates: Sep 11, 2024
§ 1735f–12.
Assurance of adequate processing of applications for loan and mortgage insurance
(a)
State offices
In order to ensure the adequate processing of applications for insurance of loans and mortgages under this chapter, the Secretary shall maintain not less than one office in each State to carry out the provisions of this chapter.
(b)
Expedited procedure for RTC properties
To assist the Resolution Trust Corporation in disposing of the property to which it acquires title and to ensure the timely processing of applications for insurance of loans and mortgages under this chapter that will be used to purchase multifamily residential property from the Resolution Trust Corporation, the Secretary shall establish an expedited procedure for considering such applications.
(June 27, 1934, ch. 847, title V, § 534, as added Pub. L. 100–242, title IV, § 418, Feb. 5, 1988 , 101 Stat. 1912; amended Pub. L. 102–550, title V, § 512(a), Oct. 28, 1992 , 106 Stat. 3786.)
cite as: 12 USC 1735f-12
