“(a) In General.—All regulations, orders, and determinations described in subsection (b) shall remain in effect according to the terms of such regulations, orders, and determinations, and shall be enforceable by or against the Director or the Secretary of Housing and Urban Development, as the case may be, until modified, terminated, set aside, or superseded in accordance with applicable law by the Director or the Secretary, as the case may be, any court of competent jurisdiction, or operation of law.
“(b) Applicability.—A regulation, order, or determination is described in this subsection if it—“(1) was issued, made, prescribed, or allowed to become effective by—“(A) the Office of Federal Housing Enterprise Oversight;
“(B) the Secretary of Housing and Urban Development, and relates to the authority of the Secretary under—“(i) the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 [12 U.S.C. 4501 et seq.];
“(ii) the Federal National Mortgage Association Charter Act [12 U.S.C. 1716 et seq.], with respect to the Federal National Mortgage Association; or
“(iii) the Federal Home Loan Mortgage Corporation Act [12 U.S.C. 1451 et seq.], with respect to the Federal Home Loan Mortgage Corporation; or
“(C) a court of competent jurisdiction, and relates to functions transferred by this Act [see Tables for classification]; and
“(2) is in effect on the effective date of the abolishment under section 1301(a).
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