Each adjustment will be made by contributing to each such quantity (as it may have been formerly adjusted) a percentage thereof equivalent to the percentage boost, throughout the most current 12-month or 4-quarter period ending before the time of identifying 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 house cost index throughout the most recent 12-month or 4-quarter period ending before the time of figuring out such annual adjustment is a decline, then no change will be made for the next year, and the next modification will take into consideration prior decreases in your home rate index, so that any adjustment will reflect the net modification in your home rate index because the last adjustment. Declines in your house price index will be built up and after that minimize boosts up until subsequent boosts go beyond prior decreases." for "Such constraints shall not go beyond $93,750 for a mortgage protected by a single-family residence, $120,000 for a mortgage protected by a two-family home, $145,000 for a mortgage secured by a three-family house, and $180,000 for a mortgage secured by a four-family home, other than that such optimum restrictions will be changed efficient January 1 of each year starting with 1981. Each such modification will be made by contributing to each such amount (as it might have been previously changed) a percentage thereof equal to the portion boost during the twelve-month period ending with the previous October in the nationwide typical one-family home price in the month-to-month survey of all major lenders conducted by the Federal Housing Finance Board." and inserted last sentence.

1998-Subsec. (a)( 2 ). Pub. L. 105-276, § 582(a)( 14 ), started out penultimate sentence which checked out as follows: "With regard to mortgages secured by residential or commercial property consisting of five or more family residence systems, such constraints will not exceed 125 per centum of the dollar amounts set forth in area 207(c)( 3) of the National Housing Act, other than that such constraints may be increased by the Corporation (considering building and construction expenses) to not to surpass 240 per centum of such dollar quantities in any geographical area for which the Secretary of Housing and Urban Development determines under such area that expense levels need any increase in the dollar quantity constraints under such section."

Pub. L. 105-276, § 202(a), which directed the change of the first sentence of par. (2) by starting out "or" at end of cl. (B) and substituting "; or (D) the mortgage undergoes default loss protection that the Corporation identifies is economically equal or remarkable, on an individual or pooled basis, to the security provided by stipulation (C) of this sentence: Provided, That if the Director of the Office of Federal Housing Enterprise Oversight subsequently discovers that such default loss security identified by the Corporation does not offer such equivalent or remarkable protection, the Corporation will supply such additional default loss security for such mortgage, as authorized by the Director of the Office of Federal Housing Enterprise Oversight, necessary to supply such equal or exceptional protection." for the duration at end, was reversed by Pub. L. 105-277, efficient upon enactment of Pub. L. 105-276.

1992-Subsec. (a)( 1 ). Pub. L. 102-550, § 1382(j), in first sentence, replaced a period for "from any Federal mortgage bank, the Resolution Trust Corporation, the Federal Deposit Insurance Corporation, the National Credit Union Administration, any member of a Federal mortgage bank, or any other monetary institution the deposits or accounts of which are insured by a firm of the United States, or from any financial organization the deposits or accounts of which are insured under the laws of any State if the total amount of time and cost savings deposits kept in all such organizations because State is more than 20 per centum of the total amount 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 approved by the Secretary of Housing and Urban Development for participation in any mortgage insurance program under the National Housing Act or from any public utility carrying out activities in accordance with the requirements of title II of the National Energy Conservation Policy Act if the domestic mortgage to be bought is a loan or advance of credit the initial earnings of which are obtained in order to fund the purchase and installation of property energy conservation measures (as specified in area 210( 11) of the National Energy Conservation Policy Act) in residential property." and in 2nd sentence, substituted a duration for ", and the servicing on any such mortgage might be performed by the seller or by a monetary institution 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 coverage program under the National Housing Act, with which institution or mortgagee the seller might 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 might not impose any annual limitation on the maximum aggregate principal quantity of mortgages bought by the Corporation."

1989-Subsec. (a)( 1 ). Pub. L. 101-73, § 731(e)( 1 ), (f)( 2 )(A), replaced "Resolution Trust Corporation" for "Federal Savings and Loan Insurance Corporation" and inserted at end "Nothing in this area authorizes the Corporation to impose any charge or charge 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 because 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 ), added par. (5 ).

Subsec. (b). Pub. L. 101-73, § 731(f)( 2 )(A), substituted "Resolution Trust Corporation" for "Federal Savings and Loan Insurance Corporation".

1988-Subsec. (a)( 4 )(A)(i). Pub. L. 100-242, § 443(b), set out "through March 15, 1988," before "residential 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 substituted "March 15, 1988" for "December 16, 1987".

Pub. L. 100-179 substituted "December 16, 1987" for "December 2, 1987".

Pub. L. 100-170 substituted "December 2, 1987" for "November 15, 1987".

Pub. L. 100-154 substituted "November 15, 1987" for "October 31, 1987".

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

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

Pub. L. 98-440, § 201(b), substituted "The Corporation shall establish restrictions governing the maximum original primary obligation of standard mortgages that are purchased by it; in any case in which the Corporation purchases a participation interest in such a mortgage, the restriction shall be computed with regard to the overall original primary obligation of the mortgage and not simply with respect to the interest purchased by the Corporation" for "The Corporation will establish constraints governing the maximum principal responsibility of traditional mortgages acquired by it".

Pub. L. 98-440, § 206(b), inserted provision that the restrictions stated in area 1713(c)( 3) of this title might be increased by the Corporation (taking into account building and construction expenses) to not to surpass 240 per centum of such dollar quantities in any geographical area for which the Secretary of Housing and Urban Development identifies under such section that expense levels required any boost in the dollar amount constraints 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, included the Federal Deposit Insurance Corporation and the National Credit Union Administration to the enumeration of agencies from which the Federal Mortgage Mortgage Corporation is authorized to buy domestic mortgages.

Subsec. (a)( 2 ). Pub. 97-110, § 202(a), substituted arrangements authorizing the Corporation to acquire a conventional mortgage which was come from more than one year prior to the purchase date only 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 presently engaged in mortgage financing or investing activities for provisions which had actually authorized the Corporation to buy a standard mortgage which was stemmed more than one year prior to the purchase date just if the seller was presently participated in mortgage financing or investing activities and if, as a result thereof, the cumulative aggregate of the primary balances of all traditional mortgages purchased by the Corporation which were come from more than one year prior to the date of purchases did not go beyond 20 per centum of the cumulative aggregate of the principal balances of all conventional mortgages acquired by the Corporation.

Pub. L. 97-110, § 202(b)( 1 ), inserted provision that, with regard to any transaction in which a seller contemporaneously sells mortgages stemmed more than one years of age previous to the date of sale to the Corporation and receives in payment for such mortgages securities representing concentrated interests just in those mortgages, the Corporation shall not enforce any fee or charge upon a qualified seller which is not a member of a Federal Mortgage Bank which differs from that imposed upon a qualified seller which is such a member.

Subsec. (b). Pub. L. 97-110, § 203, added the Federal Deposit Insurance Corporation and the National Cooperative Credit Union Administration to the enumeration of agencies having the authority to get in into and to carry out and perform transactions and matters described in this section.

1980-Subsec. (a)( 1 ). Pub. L. 96-294 inserted arrangements associating with public energies 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 placed provisions stating constraints respecting mortgages protected by a single-family residence, and so on, and struck out arrangements making the limitations set forth in first proviso of very first sentence of section 1464(c) of this title.

1978-Subsec. (a)( 1 ). Pub. L. 95-557 placed referral to any mortgagee approved by the Secretary of Housing and Urban Development at end of very first sentence, and inserted last 5 sentences relating to imposition of charges or fees for various classes of sellers or servicers, and so on 1977-Subsec. (a)( 2 ). Pub. L. 95-128 placed "by more than 25 per centum" after "go beyond" in last sentence.

1974-Subsec. (a)( 1 ). Pub. L. 93-495 inserted provisions connecting to State insurance coverage of deposits or accounts in financial organizations.

Pub. L. 93-383, § 805(a), replaced ". The Corporation may hold" for ", and to hold" and inserted provisions associating with the servicing of any such mortgage by the seller or qualified banks.

Subsec. (a)( 2 ). Pub. L. 93-383, § 805(b), substituted "80" for "75" in two locations and "not surpass 20" for "not go beyond 10", started out "private" before "insurance provider" in cl. (C), and replaced provisions connecting to restrictions contained in first proviso of first sentence of section 1464(c) of this title, for provisions connecting to restrictions applicable if the mortgage were guaranteed by the Secretary under section 1709(b) or 1713 of this title.