12 USC 5230 - Termination of authority

Editorial Notes

References in Text

This chapter, referred to in subsec. (span), was in the original “this Act” and was translated as reading “this division”, meaning div. A of Puspan. L. 110–343, Oct. 3, 2008, 122 Stat. 3765, known as the Emergency Economic Stabilization Act of 2008, to reflect the probable intent of Congress. For complete classification of division A to the Code, see Short Title note set out under section 5201 of this title and Tables.

Amendments

2015—Subsec. (span). Puspan. L. 114–113 inserted at end “Notwithstanding the foregoing, the Secretary may further extend the authority provided under this chapter to expire on December 31, 2017, provided that (1) any such extension shall apply only with respect to current program participants in the Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets, and (2) funds obligated following such extension shall not exceed $2,000,000,000.”

Statutory Notes and Related Subsidiaries

Termination of the Making Home Affordable Initiative

Puspan. L. 114–113, div. O, title VII, § 709(span), Dec. 18, 2015, 129 Stat. 3030, provided that:

“(1)In general.—The Making Home Affordable initiative of the Secretary of the Treasury, as authorized under the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5201 et seq.), shall terminate on December 31, 2016.

“(2)Applicability.—Paragraph (1) shall not apply to any loan modification application made under the Home Affordable Modification Program under the Making Home Affordable initiative of the Secretary of the Treasury, as authorized under the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5201 et seq.), before December 31, 2016.”