123STA T . 1 654PUBLIC LA W 111 – 22 —M A Y 2 0, 200 9SEC.205 . AP P LI CA T I ON O FG SE CONFO RM ING LOAN LIMIT TO MORT - GAGES ASSISTE DW IT H TARP F U NDS. Inmaki n g an y a s sis t an ce a v ai l a b let opr event an d mitigate f oreclos u res on residential properties , including any assistance for mortgage modifications, using any amounts made available to t h e S ecretary of the T reasury under title I of the E mergency Economic Stabili z ation A ct of 20 0 8 , the Secretary shall provide that the limitation on the ma x imum original principal obligation of a mort - gage that may be modified, refinanced, made, guaranteed, insured, or other w ise assisted, using such amounts shall not be less than the dollar amount limitation on the maximum original principal obligation of a mortgage that may be purchased by the F ederal H ome L oan M ortgage C orporation that is in effect, at the time that the mortgage is modified, refinanced, made, guaranteed, insured, or otherwise assisted using such amounts, for the area in which the property involved in the transaction is located . SEC. 20 6 . MORTGAGES ON CERTAIN HOMES ON LEASED LAND. Section 2 5 5 ( b ) ( 4 ) of the N ational Housing Act ( 1 2 U .S.C. 1 7 15z – 20(b)(4)) is amended by striking subparagraph ( B ) and inserting
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‘(B) under a lease that has a term that ends no earlier than the minimum number of years, as specified by the Secretary, beyond the actuarial life expectancy of the mort- gagor or comortgagor, whichever is the later date. ’ ’. SEC. 20 7 . SENSE OF CONGRESS REGARDING MORTGAGE RE V ENUE B OND PURCHASES. It is the sense of the Congress that the Secretary of the Treasury should use amounts made available in this Act to purchase mortgage revenue bonds for single-family housing issued through State housing finance agencies and through units of local govern- ment and agencies thereof. TI T LE III —MOR T GA GE F RA UD TA SK FOR C E SEC. 3 0 1 . SENSE OF CONGRESS ON ESTABLISHMENT OF A NATIONWIDE MORTGAGE FRAUD TAS K FORCE. (a) I NGE NE RAL . — It is the sense of the Congress that the D epartment of J ustice establish a Nationwide Mortgage Fraud Task Force (hereinafter referred to in this section as the ‘‘Task Force’’) to address mortgage fraud in the United States. (b) S UP P O R T .—If the Department of Justice establishes the Task Force referred to in subsection (a), it is the sense of the Congress that the Attorney General should provide the Task Force with the appropriate staff, administrative support, and other resources necessary to carry out the duties of the Task Force. (c) MAN D ATOR Y FUN C T I ON S .—If the Department of Justice establishes the Task Force referred to in subsection (a), it is the sense of the Congress that the Attorney General should— (1) establish coordinating entities, and solicit the voluntary participation of Federal, State, and local law enforcement and prosecutorial agencies in such entities, to organize initiatives to address mortgage fraud, including initiatives to enforce State mortgage fraud laws and other related Federal and State laws
- 12USC5
22 0a.
