12 USC § 3703 - Applicability

---
identifier: "/us/usc/t12/s3703"
source: "usc"
legal_status: "official_prima_facie"
title: "12 USC § 3703 - Applicability"
title_number: 12
title_name: "BANKS AND BANKING"
section_number: "3703"
section_name: "Applicability"
chapter_number: 38
chapter_name: "MULTIFAMILY MORTGAGE FORECLOSURE"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Pub. L. 97–35, title III, § 364, Aug. 13, 1981, 95 Stat. 423; Pub. L. 98–181, title I [title IV, § 471], Nov. 30, 1983, 97 Stat. 1237.)"
---


# § 3703. Applicability

section 3706(b) of this title

Multifamily mortgages held by the Secretary encumbering real estate located in any State may be foreclosed by the Secretary in accordance with this chapter, or pursuant to other foreclosure procedures available, at the option of the Secretary. If the Secretary forecloses on any such mortgage pursuant to such other foreclosure procedures available, the provisions of  may be applied at the discretion of the Secretary.

---

**Source Credit**: (Pub. L. 97–35, title III, § 364, Aug. 13, 1981, 95 Stat. 423; Pub. L. 98–181, title I [title IV, § 471], Nov. 30, 1983, 97 Stat. 1237.)

## Editorial Notes

### Amendments

1983— inserted provision relating to application of  in event of foreclosure under other foreclosure procedures.