The Secretary is authorized to insure mortgage proceeds advanced during construction or rehabilitation or otherwise prior to final endorsement of a project mortgage for the purpose of (1) financing improvements to the property and the purchase of materials and building components delivered to the property, and (2) providing funds to cover the cost of building components where such components have been assembled and specifically identified for incorporation into the property but are located at a site other than the mortgaged property, with such security as the Secretary may require.
Structure US Code
§ 1731b. Prohibition against transient housing
§ 1733. Application of other laws
§ 1734. Amendment, extension, or increase of commitment amounts
§ 1735. Payment of certain funds to Treasury
§ 1735a. Prepayment of mortgages by nonprofit educational institutions; refunds
§ 1735c. General Insurance Fund
§ 1735e. Acceptance of materials or products used in structures
§ 1735e–1. Use of American materials and products
§ 1735f. Water and sewerage facilities
§ 1735f–1. Waiver of deduction on assignment of property to Secretary in lieu of foreclosure
§ 1735f–2. Uniform rehabilitation standards for housing within and without urban renewal areas
§ 1735f–4. Minimum property standards
§ 1735f–6. Secondary mortgages held by State or local governmental agency on insured properties
§ 1735f–7. Exemption from State usury laws; applicability
§ 1735f–8. Time of payment of premium charges
§ 1735f–9. Limitation on commitments to insure loans and mortgages
§ 1735f–10. Change of mortgagee status
§ 1735f–11. Review of mortgagee performance and authority to terminate
§ 1735f–12. Assurance of adequate processing of applications for loan and mortgage insurance
§ 1735f–13. Prohibition of requirement of minimum principal loan amount
§ 1735f–15. Civil money penalties against multifamily mortgagors
§ 1735f–16. Annual audited financial statements
§ 1735f–17. Examinations and sanctions for certain violations
§ 1735f–18. Information regarding early defaults and foreclosures on insured mortgages
§ 1735f–20. Authorization of appropriations for General and Special Risk Insurance Funds