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U.S. Code as of:
01/19/04
Section 1716. Declaration of purposes of subchapter
The Congress declares that the purposes of this subchapter are to
establish secondary market facilities for residential mortgages, to
provide that the operations thereof shall be financed by private
capital to the maximum extent feasible, and to authorize such
facilities to -
(1) provide stability in the secondary market for residential
mortgages;
(2) respond appropriately to the private capital market;
(3) provide ongoing assistance to the secondary market for
residential mortgages (including activities relating to mortgages
on housing for low- and moderate-income families involving a
reasonable economic return that may be less than the return
earned on other activities) by increasing the liquidity of
mortgage investments and improving the distribution of investment
capital available for residential mortgage financing;
(4) promote access to mortgage credit throughout the Nation
(including central cities, rural areas, and underserved areas) by
increasing the liquidity of mortgage investments and improving
the distribution of investment capital available for residential
mortgage financing; and
(5) manage and liquidate federally owned mortgage portfolios in
an orderly manner, with a minimum of adverse effect upon the
residential mortgage market and minimum loss to the Federal
Government.
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