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12 U.S.C.

U.S. CodeFederal
About This Law
pg_id_13102::119-84
Title
12 — Banks and Banking
Chapter
CH13
Release
119-84
Release Date
2026-04-17

Section Text

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“The Congress finds that—“(1) periodic episodes of monetary stringency and high interest rates make it extremely difficult for families of middle income to obtain mortgage credit at rates which they can afford to pay; “(2) periods of monetary stringency and high interest rates are directly related to the Government’s monetary and fiscal policies; “(3) a disproportionate share of the burden of sustaining these anti-inflationary policies of the Government falls on families of middle income who are buyers or prospective buyers of homes; and “(4) the Government has a responsibility to lessen the disproportionate burden which such families bear as a result of such policies. It is the purpose of this title [enacting this section, and amending sections 1715z–3 and 1719 of this title] to provide, during periods of high mortgage interest rates, a source of mortgage credit for such families which is within their financial means.”

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