Balloon Payments. Federal Home Loan Bank Board regulations restricting the use of a balloon payment shall not apply to a loan, mortgage, advance, or cred- it sale to which this section applies. (Pub. L. 97–320, title III, § 341, Oct. 15, 1982, 96 Stat. 1505; Pub. L. 98–181, title I [title IV, § 473], Nov. 30, 1983, 97 Stat. 1237.) Section was enacted as part of the Thrift Institutions Restructuring Act and also as part of the ▇▇▇▇-St Ger- main Depository Institutions Act of 1982, and not as part of the National Housing Act which comprises this chapter. 1983—Subsec. (d). Pub. L. 98–181 substituted ‘‘With re- spect to a real property loan secured by a lien on resi- dential real property containing less than five dwelling units, including a lien on the stock allocated to a dwelling unit in a cooperative housing corporation, or on a residential manufactured home, a lender’’ for ‘‘A lender’’. Federal Home Loan Bank Board abolished and func- tions transferred, see sections 401 to 406 of Pub. L. 101–73, set out as a note under section 1437 of this title. For termination of Trust Territory of the Pacific Is- lands, see note set out preceding section 1681 of Title 48, Territories and Insular Possessions.
Appears in 2 contracts
Sources: Property Transfer Agreement, Banking Agreement