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us/statute/42/1487/d — Authority to insure payment of interest and principal; liens; assignability of notes evidencing loans; interest subsidy on insured and guaranteed loans offered for sale to public; protection of borrowers under loans sold to public · Axiom

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Encodings · 4

public_loan_sale_reserve_minimum_rate42 USC § 1487 (d) (4) · parameter

42 USC 1487(d)(4)

name: public_loan_sale_reserve_minimum_rate
kind: parameter
dtype: Rate
source: 42 USC 1487(d)(4)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: parameter
        source:
          corpus_citation_path: us/statute/42/1487
          excerpt: not less than 5 percent of the outstanding face amount
versions:
  - effective_from: '0001-01-01'
    formula: '0.05'

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public_loan_sale_reserve_minimum_amount42 USC § 1487 (d) · derived

42 USC 1487(d)

name: public_loan_sale_reserve_minimum_amount
kind: derived
entity: LoanSale
dtype: Money
period: Year
unit: USD
source: 42 USC 1487(d)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us/statute/42/1487
          excerpt: >-
            shall set aside as a reserve against future losses not less than 5
            percent
      - path: versions[0].formula
        kind: import
        import:
          target: us:statutes/42/1487#public_loan_sale_reserve_minimum_rate
          output: public_loan_sale_reserve_minimum_rate
          hash: sha256:local
versions:
  - effective_from: '0001-01-01'
    formula: >-
      public_loan_sale_reserve_minimum_rate *
      outstanding_face_amount_of_loans_held_by_public

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public_sale_interest_subsidy_rate_difference42 USC § 1487 (d) (2) · derived

42 USC 1487(d)(2)

name: public_sale_interest_subsidy_rate_difference
kind: derived
entity: LoanSale
dtype: Rate
period: Year
source: 42 USC 1487(d)(2)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us/statute/42/1487
          excerpt: >-
            the difference between the rate of interest paid by the borrower ...
            and the market rate of interest
versions:
  - effective_from: '0001-01-01'
    formula: >-
      if
      loan_made_under_this_subchapter_and_insured_or_guaranteed_in_accordance_with_subsection_d
      and loan_offered_for_sale_to_public:
      market_rate_of_interest_on_comparable_obligations_on_sale_date -
      borrower_interest_rate else: 0

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public_sale_borrower_protection_agreements_required42 USC § 1487 (d) (3) · derived

42 USC 1487(d)(3)

name: public_sale_borrower_protection_agreements_required
kind: derived
entity: LoanSale
dtype: Judgment
period: Year
source: 42 USC 1487(d)(3)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us/statute/42/1487
versions:
  - effective_from: '0001-01-01'
    formula: >-
      loan_made_under_this_subchapter_and_insured_or_guaranteed_in_accordance_with_subsection_d

      and loan_offered_for_sale_to_public

      and
      agreement_protects_borrower_rights_from_purchaser_or_assignee_diminution

      and
      agreement_requires_assignment_to_secretary_after_substantial_default_before_foreclosure

      and
      agreement_requires_secretary_to_afford_subchapter_rights_before_foreclosure_or_dispossession_after_assignment

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▸rulespec code

Shown source

statutes/42/1487.yaml

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Rules

public_loan_sale_reserve_minimum_rate

Parameter(4) in text ↖

source: 42 USC 1487(d)(4)

- name: public_loan_sale_reserve_minimum_rate
  kind: parameter
  dtype: Rate
  source: 42 USC 1487(d)(4)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/42/1487
            excerpt: not less than 5 percent of the outstanding face amount
  versions:
    - effective_from: '0001-01-01'
      formula: '0.05'

public_loan_sale_reserve_minimum_amount

Derived

source: 42 USC 1487(d)

- name: public_loan_sale_reserve_minimum_amount
  kind: derived
  entity: LoanSale
  dtype: Money
  period: Year
  unit: USD
  source: 42 USC 1487(d)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/42/1487
            excerpt: shall set aside as a reserve against future losses not less than 5 percent
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/42/1487#public_loan_sale_reserve_minimum_rate
            output: public_loan_sale_reserve_minimum_rate
            hash: sha256:local
  versions:
    - effective_from: '0001-01-01'
      formula: public_loan_sale_reserve_minimum_rate * outstanding_face_amount_of_loans_held_by_public

public_sale_interest_subsidy_rate_difference

Derived(2) in text ↖

source: 42 USC 1487(d)(2)

- name: public_sale_interest_subsidy_rate_difference
  kind: derived
  entity: LoanSale
  dtype: Rate
  period: Year
  source: 42 USC 1487(d)(2)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/42/1487
            excerpt: >-
              the difference between the rate of interest paid by the borrower ... and the market
              rate of interest
  versions:
    - effective_from: '0001-01-01'
      formula: >-
        if loan_made_under_this_subchapter_and_insured_or_guaranteed_in_accordance_with_subsection_d
        and loan_offered_for_sale_to_public:
        market_rate_of_interest_on_comparable_obligations_on_sale_date - borrower_interest_rate
        else: 0

public_sale_borrower_protection_agreements_required

Derived(3) in text ↖

source: 42 USC 1487(d)(3)

- name: public_sale_borrower_protection_agreements_required
  kind: derived
  entity: LoanSale
  dtype: Judgment
  period: Year
  source: 42 USC 1487(d)(3)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/42/1487
  versions:
    - effective_from: '0001-01-01'
      formula: >-
        loan_made_under_this_subchapter_and_insured_or_guaranteed_in_accordance_with_subsection_d

        and loan_offered_for_sale_to_public

        and agreement_protects_borrower_rights_from_purchaser_or_assignee_diminution

        and agreement_requires_assignment_to_secretary_after_substantial_default_before_foreclosure

        and
        agreement_requires_secretary_to_afford_subchapter_rights_before_foreclosure_or_dispossession_after_assignment

loan_commitment_authorized

Derived

source: 42 USC 1487(l)

- name: loan_commitment_authorized
  kind: derived
  entity: LoanCommitment
  dtype: Judgment
  period: Year
  source: 42 USC 1487(l)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/42/1487
  versions:
    - effective_from: '0001-01-01'
      formula: |-
        applicant_is_lender_builder_or_seller
        and applicant_complies_with_secretary_requirements
        and commitment_terms_and_conditions_are_prescribed_by_secretary

Authority to insure payment of interest and principal; liens; assignability of notes evidencing loans; interest subsidy on insured and guaranteed loans offered for sale to public; protection of borrowers under loans sold to public

Authority to insure payment of interest and principal; liens; assignability of notes evidencing loans; interest subsidy on insured and guaranteed loans offered for sale to public; protection of borrowers under loans sold to public

(1)#

(2)∀ 1#

(3)∀ 1#

(4)∀ 1#

public_loan_sale_reserve_minimum_rate

public_loan_sale_reserve_minimum_amount

public_sale_interest_subsidy_rate_difference

public_sale_borrower_protection_agreements_required

loan_commitment_authorized