Pub. L. 100-242, tit. IV, subtit. B, sec. 441

LIMITATIONS ON CERTAIN SECONDARY MORTGAGE MARKET FEES.

EnactedYear: 1988Length: 231 wordsOfficial source
SEC. 441. LIMITATIONS ON CERTAIN SECONDARY MORTGAGE MARKET FEES. (a) Federal National Mortgage Association.— Section 304 of the Federal National Mortgage Association Charter Act is amended by adding at the end the following new subsection: “(f) Except for fees paid pursuant to section 309(g), no fee or charge may be assessed or collected by the United States (including any executive department, agency, or independent establishment of the United States) on or with regard to the purchase, acquisition, sale, pledge, issuance, guarantee, or redemption of any mortgage, asset, obligation, trust certificate of beneficial interest, or other security by the corporation. No provision of this subsection shall affect the purchase of any obligation by the Secretary of the Treasury pursuant to subsection (c).”. (b) Federal Home Loan Mortgage Corporation.— Section 306 of the Federal Home Loan Mortgage Corporation Act is amended by adding at the end the following new subsection: “(i) Except for fees paid pursuant to section 303(c) or 306(c), no fee or charge may be assessed or collected by the United States (including any executive department, agency, or independent establishment of the United States) on or with regard to the purchase, acquisition, sale, pledge, issuance, guarantee, or redemption of any mortgage, asset, obligation, or other security by the Corporation. No provision of this subsection shall affect the purchase of any obligation by any Federal home loan bank pursuant to section 303(a).”.
Pub. L. 100-242, tit. IV, subtit. B, sec. 441: LIMITATIONS ON CERTAIN SECONDARY MORTGAGE MARKET FEES. | Justis AI