Fabio
76b8ec33a7
Ingested titles 12–51 and 54 from OLRC USLM XML @119-100 (the whole Code now, uniform edition; Title 53 is reserved/empty). LegalText 11,221 -> 59,740; repo total 105,704 records. Deterministic (byte-identical rerun, verified on Title 42's 8,356 sections); make check green. make legal-us-code default now covers every title. Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
42 lines
2.6 KiB
Markdown
42 lines
2.6 KiB
Markdown
---
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type: "LegalText"
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title: "12 U.S.C. § 1715z–24"
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description: "Pilot program for automated process for borrowers without sufficient credit history"
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jurisdiction: "us"
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corpus: "united_states_code"
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kind: "code_section"
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title_number: 12
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title_name: "BANKS AND BANKING"
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chapter_number: "13"
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chapter_name: "NATIONAL HOUSING"
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section: "1715z–24"
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citation: "12 U.S.C. § 1715z–24"
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status: "current"
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release_point: "119-100"
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release_date: "2026-06-26"
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source: "official"
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source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
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source_identifier: "/us/usc/t12/s1715z–24"
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source_file: "data/legal/raw/us/code/title-12/usc12.xml"
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source_hash: "2b947e417776a0b5d3d6576c00fa14973ba0ec644914fa2c2baf03cf19bf5d63"
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raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
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text_hash: "d3c480391684341032ebeb90942d658c101209a3bd67266a72d79a21a261cb0a"
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retrieved_at: "2026-07-04"
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confidence: "official"
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tags: ["legal", "us-code"]
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---
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# 12 U.S.C. § 1715z–24 - Pilot program for automated process for borrowers without sufficient credit history
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## Text
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(a) Establishment The Secretary shall carry out a pilot program to establish, and make available to mortgagees, an automated process for providing alternative credit rating information for mortgagors and prospective mortgagors under mortgages on 1- to 4-family residences to be insured under this subchapter who have insufficient credit histories for determining their creditworthiness. Such alternative credit rating information may include rent, utilities, and insurance payment histories, and such other information as the Secretary considers appropriate.
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(b) Scope The Secretary may carry out the pilot program under this section on a limited basis or scope, and may consider limiting the program to first-time homebuyers.
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(c) Limitation In any fiscal year, the aggregate number of mortgages insured pursuant to the automated process established under this section may not exceed 5 percent of the aggregate number of mortgages for 1- to 4-family residences insured by the Secretary under this subchapter during the preceding fiscal year.
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(d) Sunset After the expiration of the 5-year period beginning on July 30, 2008, the Secretary may not enter into any new commitment to insure any mortgage, or newly insure any mortgage, pursuant to the automated process established under this section.
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(June 27, 1934, ch. 847, title II, § 258, formerly § 257, as added Pub. L. 110–289, div. B, title I, § 2124(a), July 30, 2008, 122 Stat. 2839; renumbered § 258, Pub. L. 111–22, div. A, title II, § 202(c), May 20, 2009, 123 Stat. 1643.)
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