Page 631 TITLE 12—BANKS AND BANKING § 1715yMortgage Acquisition Agreement • October 16th, 2019
Contract Type FiledOctober 16th, 2019ance contract), or may acquire the mortgage loan and the security therefor upon payment to the mortgagee in cash or in debentures (as pro- vided in the mortgage insurance contract) of a total amount equal to the unpaid principal bal- ance of the loan plus any accrued interest and any advances approved by the Secretary made previously by the mortgagee under the provi- sions of the mortgage. After the acquisition of the mortgage by the Secretary the mortgagee shall have no further rights, liabilities, or obli- gations with respect to the mortgage. The ap- propriate provisions of sections 1710 and 1713 of this title relating to the issuance of debentures shall apply with respect to debentures issued under this subsection, and the appropriate pro- visions of sections 1710 and 1713 of this title re- lating to the rights, liabilities, and obligations of a mortgagee shall apply with respect to the Secretary when he has acquired an insured mortgage under this subsection, in accordance with and
§ 1715yMortgage Acquisition Agreement • August 9th, 2018
Contract Type FiledAugust 9th, 2018ance contract), or may acquire the mortgage loan and the security therefor upon payment to the mortgagee in cash or in debentures (as pro- vided in the mortgage insurance contract) of a total amount equal to the unpaid principal bal- ance of the loan plus any accrued interest and any advances approved by the Secretary made previously by the mortgagee under the provi- sions of the mortgage. After the acquisition of the mortgage by the Secretary the mortgagee shall have no further rights, liabilities, or obli- gations with respect to the mortgage. The ap- propriate provisions of sections 1710 and 1713 of this title relating to the issuance of debentures shall apply with respect to debentures issued under this subsection, and the appropriate pro- visions of sections 1710 and 1713 of this title re- lating to the rights, liabilities, and obligations of a mortgagee shall apply with respect to the Secretary when he has acquired an insured mortgage under this subsection, in accordance with and