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us/statute/12/1713/b — Insurance of additional mortgages · Axiom

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Rules

mortgage_fee_simple_or_lease_years_minimum

Parameter

source: 12 USC 1713(a)

- name: mortgage_fee_simple_or_lease_years_minimum
  kind: parameter
  dtype: Count
  source: 12 USC 1713(a)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1713
            excerpt: under a lease for not less than ninety-nine years which is renewable
  versions:
    - effective_from: '0001-01-01'
      formula: '99'

mortgage_remaining_lease_years_minimum

Parameter

source: 12 USC 1713(a)

- name: mortgage_remaining_lease_years_minimum
  kind: parameter
  dtype: Count
  source: 12 USC 1713(a)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1713
            excerpt: >-
              under a lease having a period of not less than fifty years to run from the date the
              mortgage was executed
  versions:
    - effective_from: '0001-01-01'
      formula: '50'

mortgage_principal_value_cap_rate

Parameter

source: 12 USC 1713(c)

- name: mortgage_principal_value_cap_rate
  kind: parameter
  dtype: Rate
  source: 12 USC 1713(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1713
            excerpt: Not to exceed 90 per centum of the estimated value of the property or project
  versions:
    - effective_from: '0001-01-01'
      formula: '0.90'

no_bedroom_family_unit_limit

Parameter

source: 12 USC 1713(c)

- name: no_bedroom_family_unit_limit
  kind: parameter
  dtype: Money
  unit: USD
  source: 12 USC 1713(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/12/1713
            excerpt: $38,025 per family unit without a bedroom
  versions:
    - effective_from: '0001-01-01'
      formula: '38025'

one_bedroom_family_unit_limit

Parameter

source: 12 USC 1713(c)

- name: one_bedroom_family_unit_limit
  kind: parameter
  dtype: Money
  unit: USD
  source: 12 USC 1713(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/12/1713
            excerpt: $42,120 per family unit with one bedroom
  versions:
    - effective_from: '0001-01-01'
      formula: '42120'

two_bedroom_family_unit_limit

Parameter

source: 12 USC 1713(c)

- name: two_bedroom_family_unit_limit
  kind: parameter
  dtype: Money
  unit: USD
  source: 12 USC 1713(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/12/1713
            excerpt: $50,310 per family unit with two bedrooms
  versions:
    - effective_from: '0001-01-01'
      formula: '50310'

three_bedroom_family_unit_limit

Parameter

source: 12 USC 1713(c)

- name: three_bedroom_family_unit_limit
  kind: parameter
  dtype: Money
  unit: USD
  source: 12 USC 1713(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/12/1713
            excerpt: $62,010 per family unit with three bedrooms
  versions:
    - effective_from: '0001-01-01'
      formula: '62010'

four_or_more_bedroom_family_unit_limit

Parameter

source: 12 USC 1713(c)

- name: four_or_more_bedroom_family_unit_limit
  kind: parameter
  dtype: Money
  unit: USD
  source: 12 USC 1713(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/12/1713
            excerpt: $70,200 per family unit with four or more bedrooms
  versions:
    - effective_from: '0001-01-01'
      formula: '70200'

manufactured_home_space_limit

Parameter

source: 12 USC 1713(c)

- name: manufactured_home_space_limit
  kind: parameter
  dtype: Money
  unit: USD
  source: 12 USC 1713(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/12/1713
            excerpt: or not to exceed $17,460 per space
  versions:
    - effective_from: '0001-01-01'
      formula: '17460'

family_unit_base_limit

Derived

source: 12 USC 1713(c)

- name: family_unit_base_limit
  kind: derived
  entity: Mortgage
  dtype: Money
  period: Year
  unit: USD
  source: 12 USC 1713(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/12/1713
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/12/1713#no_bedroom_family_unit_limit
            output: no_bedroom_family_unit_limit
            hash: sha256:local
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/12/1713#one_bedroom_family_unit_limit
            output: one_bedroom_family_unit_limit
            hash: sha256:local
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/12/1713#two_bedroom_family_unit_limit
            output: two_bedroom_family_unit_limit
            hash: sha256:local
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/12/1713#three_bedroom_family_unit_limit
            output: three_bedroom_family_unit_limit
            hash: sha256:local
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/12/1713#four_or_more_bedroom_family_unit_limit
            output: four_or_more_bedroom_family_unit_limit
            hash: sha256:local
  versions:
    - effective_from: '0001-01-01'
      formula: >-
        if bedroom_count == 0: no_bedroom_family_unit_limit else: if bedroom_count == 1:
        one_bedroom_family_unit_limit else: if bedroom_count == 2: two_bedroom_family_unit_limit
        else: if bedroom_count == 3: three_bedroom_family_unit_limit else:
        four_or_more_bedroom_family_unit_limit

principal_obligation_value_limit

Derived

source: 12 USC 1713(c)

- name: principal_obligation_value_limit
  kind: derived
  entity: Mortgage
  dtype: Money
  period: Year
  unit: USD
  source: 12 USC 1713(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/12/1713
            excerpt: Not to exceed 90 per centum of the estimated value of the property or project
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/12/1713#mortgage_principal_value_cap_rate
            output: mortgage_principal_value_cap_rate
            hash: sha256:local
  versions:
    - effective_from: '0001-01-01'
      formula: mortgage_principal_value_cap_rate * estimated_completed_property_or_project_value

default_continuation_days_for_insurance_benefits

Parameter

source: 12 USC 1713(g)

- name: default_continuation_days_for_insurance_benefits
  kind: parameter
  dtype: Count
  source: 12 USC 1713(g)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1713
            excerpt: if such default continues for a period of thirty days
  versions:
    - effective_from: '0001-01-01'
      formula: '30'

mortgage_payment_default_continues_for_benefits

Derived

source: 12 USC 1713(g)

- name: mortgage_payment_default_continues_for_benefits
  kind: derived
  entity: Mortgage
  dtype: Judgment
  period: Day
  source: 12 USC 1713(g)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: predicate
          source:
            corpus_citation_path: us/statute/12/1713
            excerpt: >-
              failure of the mortgagor to make any payment due ... shall be considered a default ...
              and, if such default continues for a period of thirty days
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/12/1713#default_continuation_days_for_insurance_benefits
            output: default_continuation_days_for_insurance_benefits
            hash: sha256:local
  versions:
    - effective_from: '0001-01-01'
      formula: |-
        mortgagor_failed_to_make_payment_due
        and default_continues_days >= default_continuation_days_for_insurance_benefits

mortgagee_assignment_package_delivered

Derived

source: 12 USC 1713(g)

- name: mortgagee_assignment_package_delivered
  kind: derived
  entity: Mortgage
  dtype: Judgment
  period: Day
  source: 12 USC 1713(g)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/12/1713
            excerpt: >-
              upon assignment, transfer, and delivery to the Secretary ... of (1) all rights and
              interests ... (6) all records, documents, books, papers, and accounts
  versions:
    - effective_from: '0001-01-01'
      formula: |-
        rights_and_interests_under_defaulted_mortgage_assigned
        and mortgage_transaction_claims_assigned
        and title_or_other_insurance_claims_delivered
        and unadvanced_loan_balance_delivered
        and mortgagor_deposit_cash_or_property_delivered
        and mortgage_transaction_records_delivered

mortgagee_entitled_to_insurance_benefits_after_assignment

Derived

source: 12 USC 1713(g)

- name: mortgagee_entitled_to_insurance_benefits_after_assignment
  kind: derived
  entity: Mortgage
  dtype: Judgment
  period: Day
  source: 12 USC 1713(g)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/12/1713
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/12/1713#mortgage_payment_default_continues_for_benefits
            output: mortgage_payment_default_continues_for_benefits
            hash: sha256:local
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/12/1713#mortgagee_assignment_package_delivered
            output: mortgagee_assignment_package_delivered
            hash: sha256:local
  versions:
    - effective_from: '0001-01-01'
      formula: |-
        mortgage_payment_default_continues_for_benefits
        and mortgagee_assignment_package_delivered

▸citations (1)

References

This rule cites 1 other rule.

12 USC § 1709inferredUS Federal › Statutes › Title 12 › § 1709

Insurance of additional mortgages

(1)#

Insurance of additional mortgages

(1)#

(2)#

mortgage_fee_simple_or_lease_years_minimum

mortgage_remaining_lease_years_minimum

mortgage_principal_value_cap_rate

no_bedroom_family_unit_limit

one_bedroom_family_unit_limit

two_bedroom_family_unit_limit

three_bedroom_family_unit_limit

four_or_more_bedroom_family_unit_limit

manufactured_home_space_limit

family_unit_base_limit

principal_obligation_value_limit

default_continuation_days_for_insurance_benefits

mortgage_payment_default_continues_for_benefits

mortgagee_assignment_package_delivered

mortgagee_entitled_to_insurance_benefits_after_assignment