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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 12 U.S.C. § 1701l1 Mortgage proceeds fraudulently misappropriated by mortgagor; recovery of deficiency after foreclosure us united_states_code code_section 12 BANKS AND BANKING 13 NATIONAL HOUSING 1701l1 12 U.S.C. § 1701l1 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip /us/usc/t12/s1701l1 data/legal/raw/us/code/title-12/usc12.xml e8de763cec876307c2e0218fb845170705fed86ae076a5d56784dca0b0c39bc7 e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa e0e4a947b0ac2abf1c126495a54ecc7390894a7f14433a536381f124bc01a264 2026-07-04 official
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us-code

12 U.S.C. § 1701l1 - Mortgage proceeds fraudulently misappropriated by mortgagor; recovery of deficiency after foreclosure

Text

The Secretary of Housing and Urban Development shall take action to secure the payment of any deficiency after foreclosure on a mortgage insured or assisted under Federal law where the Secretary has reason to believe that the mortgage proceeds have been fraudulently misappropriated by the mortgagor.

(Pub. L. 93383, title VIII, § 819, Aug. 22, 1974, 88 Stat. 740.)

Notes

Editorial Notes

Codification Section was enacted as part of the Housing and Community Development Act of 1974, and not as part of the National Housing Act which comprises this chapter.