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While the statute is fairly specific about violations and penalties, it grants the Secretary broad authority to issue regulations as deemed “appropriate to implement this section.” This includes determining factors in assessing penalty amounts and establishing standards and procedures for imposing those penalties. This broad grant of authority falls under the “General Authority” delegation category.

The statute authorizes the Secretary to issue regulations to implement the section, but doesn’t mandate specific regulatory actions beyond establishing standards and procedures for imposing penalties and defining “knowingly”. 24 CFR Part 81 implements a different section of the US Code (12 U.S.C. 1716-1723h, 4501-4641). While 12 U.S.C. 1723i lives within that range, 24 CFR Part 81 concerns the regulation of Fannie Mae and Freddie Mac and their housing goals, fair housing practices, and reporting requirements, and other related matters. 24 CFR Part 81 does not implement the civil penalty regime described in 12 U.S.C. § 1723i.

While 12 U.S.C. § 1723a outlines various powers of the Government National Mortgage Association and Federal National Mortgage Association, including the ability to enter contracts, acquire property, and prescribe rules for its business, it does not specifically direct the creation of regulations regarding fiduciary activities. The statute grants broad authority to manage its affairs and conduct its business. The regulation clarifies how the Association exercises its powers with respect to fiduciary activities.

24 CFR Part 340, as indicated by its “Authority” section, is authorized by 12 U.S.C. 1723a, among other statutes. The regulation deals with fiduciary activities, which are an aspect of the general powers granted to the Government National Mortgage Association and Federal National Mortgage Association. The statute doesn’t mandate this particular regulation, but empowers the agency to act within this domain.

While 12 U.S.C. 1723a(a) grants broad powers to GNMA, the regulation specifically implements the power of GNMA to “do all things as are necessary or incidental to the proper management of its affairs and the proper conduct of its business” by establishing book-entry procedures for Ginnie Mae securities. This falls under the Specific Authority category as it relates to a specific regulatory task to conduct its general business.

The regulation 24 CFR Part 350 is directly mandated by 12 U.S.C. 1723a(a), as explicitly stated in the regulation’s “Authority” section.

While specific subsections of 12 U.S.C. § 1723a relate to specific reporting or data collection tasks, the statute as a whole is a broad grant of authority regarding the powers and operations of FNMA and GNMA. The statute does not narrowly define specific regulatory tasks, but provides a framework for those entities to conduct business and for HUD/FHFA to oversee them. The power to prescribe, repeal, and amend rules related to general business conduct (subsection a) is an extremely broad delegation of rulemaking power. The directives to collect mortgage data and report on housing activities (subsections m and n) could be seen as more specific regulatory tasks, but those subsections are still relatively broad, which points to a General Authority delegation.

24 CFR Part 81 regulates Fannie Mae and Freddie Mac. 12 U.S.C. 1723a grants powers to these entities and while it doesn’t explicitly mandate this specific regulation, it authorizes the agency to create rules for its business. The authority citation for 24 CFR Part 81 also includes 12 U.S.C. 1716-1723h, and 4501-4641 further strengthening the connection between the statute and the regulation.

The statute provides broad guidelines on permissible investments. While it specifies categories of acceptable investments, it doesn’t instruct the agency on how to regulate these investments, leaving significant discretion to the agency to determine specific regulations, reporting requirements, and other program approvals related to the Association’s funds. It allows the agency to regulate investment strategy.

The statute outlines permissible investments for the Association’s funds. While it doesn’t explicitly mandate the creation of regulations governing these investments, it authorizes the agency (likely HUD, given the CFR citation and subject matter of Fannie Mae/Freddie Mac) to oversee and implement investment strategies. The regulation, 24 CFR Part 81, addresses the regulatory oversight of Fannie Mae and Freddie Mac, which would include the investments outlined in the statute. The statute authorizes actions that HUD takes in the regulations but doesn’t require specific implementing regulations on investment of funds.

The statute specifically instructs the SEC to deem certain securities as “exempt securities within the meaning of laws administered by the Securities and Exchange Commission.” This identifies a specific regulatory task for the SEC, even though it doesn’t detail how the SEC should administer the “meaning of laws.” This is specific because it tells the SEC what kinds of securities to exempt.

12 U.S.C. § 1723c empowers the Securities and Exchange Commission (SEC) to administer laws regarding securities exemptions for obligations issued by specific entities. While the statute doesn’t directly mandate regulations, it authorizes the SEC to treat certain instruments as exempt securities, influencing its regulatory actions. The relationship is authorized but not mandated. 24 CFR Part 81 is promulgated by HUD, not the SEC; however, the statute does deal with securities, and thus may have related downstream implications.

While 12 U.S.C. 1723a grants powers to the FNMA and GNMA broadly, subsection (d) specifically addresses personnel and compensation. Furthermore, 12 U.S.C. 4518 and 4518a, also listed as authorities for the regulation, are about executive compensation at Fannie Mae and Freddie Mac. These provisions indicate a clear congressional intent for FHFA to manage executive compensation, qualifying it as a Specific Authority delegation.

The statute, particularly subsection (d) regarding personnel appointment and compensation, authorizes the Federal Housing Finance Agency (FHFA) to regulate executive compensation. However, it doesn’t explicitly mandate every aspect of the compensation regulation, giving the agency some discretion in implementation. The regulation’s authority section specifically cites 12 U.S.C. 1723a(d).

12 U.S.C. 1723a(k) states the FHFA shall “require annual and quarterly reports of the financial condition and operations of the corporation which shall be in such form, contain such information, and be submitted on such dates as the Director shall require.”. It gives the agency a clearly defined regulatory gap to address (financial condition of the GSEs) and specific direction using terms like “require,” which falls under the ‘Specific Authority’ delegation.

12 U.S.C. 1723a(k) is explicitly listed as authority for 12 CFR Part 1777. This demonstrates a direct mandate as the statute authorizes the agency to act in a specific area, leading to the regulation.

12 U.S.C. § 1723a provides a broad outline of powers for GNMA and FNMA. While it includes some specific instructions like preparing forms and submitting reports, the overall tone empowers the agencies to conduct their business with significant discretion (“on such terms as it may deem appropriate,” “as and to the extent that it may deem necessary or appropriate,” “manner in which its general business may be conducted”). Therefore, it leans more towards general authority.

24 CFR Part 300 explicitly cites 12 U.S.C. 1723a as its authority, making the statute directly mandated.

12 U.S.C. 1723a(a) provides GNMA and FNMA with broad powers to conduct business and prescribe rules and regulations governing how their general business may be conducted, without specifying particular regulatory tasks. The phrase “to prescribe, repeal, and amend or modify, rules, regulations, or requirements governing the manner in which its general business may be conducted” gives the agencies broad rulemaking authority.

The regulation cites 12 U.S.C. 1723a(a) as authority, suggesting that the statute authorizes the regulation but does not mandate it.

The statute grants GNMA broad rulemaking authority (“to prescribe, repeal, and amend or modify, rules, regulations, or requirements governing the manner in which its general business may be conducted”) without identifying specific regulatory tasks or gaps that need to be addressed. While the statute outlines GNMA’s overall purpose, it gives GNMA discretion in how to achieve it through regulations.

The statute 12 U.S.C. § 1723a(a) gives GNMA the power to “prescribe, repeal, and amend or modify, rules, regulations, or requirements governing the manner in which its general business may be conducted.” The regulation (24 CFR Part 330) appears to implement the association’s power over its business. The statute authorizes regulations, but it does not mandate them.

The statute details specific actions and responsibilities for the Government National Mortgage Association (GNMA), especially in section (g). For example, it authorizes GNMA to guarantee timely payments on securities, collect reasonable fees for guaranties and analyses, and contract for the extinguishment of rights in mortgages upon issuer default. While terms like “appropriate” and “reasonable” provide some discretion, the tasks themselves are well-defined.

24 CFR Part 350 explicitly cites 12 U.S.C. 1721(g) as authority for the regulation. This shows that the regulation is directly mandated by the statute.

The statute provides authority to GNMA to manage assets, issue obligations, and guarantee mortgages, but it does not provide highly specific instructions on how the agency is to accomplish these tasks or fill in any specific regulatory gaps. It grants broad discretion using terms such as “such terms and conditions as it may deem appropriate” and “as may be stipulated in such obligations” for instance. While there are limitations put on the association, it is more akin to general regulatory authority.

24 CFR Part 81, which governs Fannie Mae and Freddie Mac, cites 12 U.S.C. 1716-1723h as statutory authority. 12 U.S.C. 1721 falls within that range, authorizing GNMA to manage and liquidate assets and issue obligations. However, there’s no explicit mandate that HUD must regulate GNMA in the way described in Part 81 based solely on 12 U.S.C. 1721. The regulatory framework could exist under the broad authority given elsewhere, making this “authorized but not mandated.”

The statute uses “appropriate” in the context of establishing reserves. While open-ended, it directs the Secretary to a specific regulatory task (reserve establishment) based on a standard of appropriateness related to the benefits, burdens, functions, and operations of the Association.

12 U.S.C. § 1722 allows the Secretary of Housing and Urban Development to establish reserves deemed “appropriate.” This doesn’t mandate specific regulations but authorizes the Secretary to create them based on their judgment.

While the statute mentions the adoption of bylaws, it does not specify what the bylaws should address beyond governing the performance of powers and duties granted to GNMA. This falls under the “General Authority” delegation as it grants broad rulemaking authority without identifying specific regulatory tasks.

The statute 12 U.S.C. § 1723 explicitly grants the Secretary of Housing and Urban Development the power to “adopt, amend, and repeal bylaws governing the performance of the powers and duties granted to or imposed upon it by law” to the Government National Mortgage Association. This directly mandates the agency to create bylaws.

The statute grants broad rulemaking authority to the Secretary of HUD regarding the operations and management of GNMA and, by extension, influences Fannie Mae and Freddie Mac. Although there are specific provisions regarding the composition of the board and certain appointments, the delegation concerning the Secretary’s authority to determine “general policies” and adopt bylaws is broad, indicating a general authority delegation.

The statute, particularly subsection (a), empowers the Secretary of HUD to determine general policies and adopt bylaws for the Government National Mortgage Association (GNMA). This suggests that the regulation is authorized by the statute, but not explicitly mandated. While the statute outlines the general structure and powers of the association, it allows the Secretary to create regulations to govern its operations within the bounds of existing law.

The statute provides broad authority related to the operations and capitalization of Fannie Mae. It does not specify particular regulatory tasks for HUD, instead provides agency discretion to manage these areas within broad parameters.

12 U.S.C. 1716-1723h is listed in the authority section of the regulation. These sections contain powers authorized by Congress to be used by the Secretary of HUD.

The statute offers broad authority using terms like “reasonably prevent excessive use of the corporation’s facilities” and “consistent with general loan policies.” It establishes the framework for secondary market operations and the issuance of securities but leaves significant discretion to the corporation and the Secretaries of Treasury and HUD without prescribing detailed regulatory tasks. This lack of specificity aligns with a General Authority delegation.

The statute authorizes HUD to regulate Fannie Mae and Freddie Mac (as codified in 24 CFR Part 81), but does not explicitly mandate the specific contents of those regulations. The language in 12 U.S.C. § 1719 provides authority for the Secretary of the Treasury and the Secretary of Housing and Urban Development to take certain actions related to the corporation’s operations and obligations, which implicitly supports the creation of regulations, but it doesn’t require any particular regulation to be created.

12 U.S.C. 1716-1723h, cited as authority for 24 CFR Part 81, provides specific instructions to HUD regarding the regulation of Fannie Mae and Freddie Mac, concerning specific areas like housing goals and fair housing practices. Even though Fannie Mae and Freddie Mac are broad entities and the nature of the housing market changes with time, this is considered specific authority.

12 U.S.C. § 1720 is repealed, so there is no relationship with current regulations, yet there is a relationship because 24 CFR Part 81 concerns Fannie Mae and Freddie Mac and 12 U.S.C. § 1720 formerly related to the special assistance functions of the Government National Mortgage Association.

Subsection (g) authorizes the Association “upon such terms and conditions as it may deem appropriate, to guarantee the timely payment of principal of and interest on such trust certificates or other securities” and the regulation at 24 CFR Part 320 details the terms and conditions of mortgage-backed securities. The agency is directly tasked with determining terms and conditions of a specific regulatory task.

24 CFR Part 320 cites 12 U.S.C. 1721(g) as its authority, which directly authorizes the Association to guarantee the timely payment of principal and interest on securities, establishing a directly mandated relationship.

While 1721(g) provides broad authority to GNMA concerning mortgage-backed securities guarantees, it also includes specific instructions. For example, it mentions the collection of reasonable fees, the subrogation of rights upon payment default, and the types of mortgages eligible for inclusion in the guaranteed securities. The statute states “upon such terms and conditions as it may deem appropriate”, indicating a level of discretion but also provides a specific goal of mortgage-backed securities guarantees. This falls within Hickman’s “Specific Authority” category.

The regulation at 24 CFR Part 330, “Guaranty of Multiclass Securities” is directly mandated by 12 U.S.C. 1721(g), which authorizes the Government National Mortgage Association (GNMA) to guarantee the timely payment of principal and interest on trust certificates or other securities based on mortgage pools, and to establish the terms and conditions for such guarantees. The “Authority” section of the regulation explicitly cites 12 U.S.C. 1721(g) as a basis for the rules it contains.

The statute describes the structure and purpose of the partitioned entities (FNMA and GNMA), but it provides only broad rulemaking authority. The statute lists general purposes and continuing operations but doesn’t instruct the Secretary of HUD on specific regulatory gaps or tasks. It empowers the Secretary to establish the effective date, but doesn’t direct or constrain the Secretary using terms such as “appropriate”, “reasonable”, or “necessary” in the statute itself (though other referenced statutes might). The regulation cited lists numerous statutes as its authority, suggesting a range of actions authorized under a broad mandate to oversee FNMA/GNMA.

The statute authorizes the partition of FNMA and assigns specific functions, implying the Secretary of HUD can create regulations to oversee these entities, but it does not directly mandate every aspect of that regulation. The HUD authority is specifically mentioned in relation to establishing the effective date of the split and in transitional provisions, and while the underlying sections authorize operations that require oversight, the statute itself doesn’t mandate every regulation that HUD might issue.

While 12 U.S.C. § 1717(b)(6) stipulates that the corporation may not implement any new program before obtaining the approval of the Secretary, which is a very specific authority, many of the subparts under 24 CFR Part 81 (Housing Goals, Fair Housing, Access to Information, and Procedures for Actions and Review of Actions) deal with a broader rulemaking authority. Therefore, it is more fitting to assign the classification as “General Authority”.

24 CFR Part 81 is authorized by 12 U.S.C. 1716-1723h, among other statutes. Section 1717 falls within this range. The statute authorizes FNMA and GNMA to purchase, sell, and deal in mortgages, and provides for oversight by the Secretary of HUD and the Director of FHFA. While the statute allows for the Secretary’s involvement, the statute itself does not mandate the specific regulations found in 24 CFR Part 81. Therefore, the statute authorizes but does not mandate the regulation.

The statute delegates authority to the Secretary of the Treasury to approve sales of obligations, but it doesn’t provide specific instructions on how the Secretary should regulate Fannie Mae and Freddie Mac more broadly. 12 U.S.C. 1716-1723h grants broad rulemaking authority to HUD concerning housing, which are general authority delegations.

The statute outlines a prohibition on the sale of obligations by federal departments and agencies, but allows for exceptions with the approval of the Secretary of the Treasury. The regulation at 24 CFR Part 81 relates to the regulation of Fannie Mae and Freddie Mac by the Secretary of HUD. 12 U.S.C. 1716-1723h is cited as authority for the regulation, suggesting that this statute authorizes, but does not directly mandate, the specific regulations concerning Fannie Mae and Freddie Mac. The statute allows the Secretary of the Treasury to grant approval for certain sales, which could indirectly impact Fannie Mae and Freddie Mac, but the regulation goes beyond this specific element, regulating Fannie Mae and Freddie Mac, which goes beyond just the approval of the Secretary of Treasury.

While the statute permits the corporation to impose charges and fees, it does not explicitly define what those charges and fees must be used for. The regulation 12 CFR Part 1251 uses that authority to define charges associated with contributions to housing trust and capital magnet funds.

12 U.S.C. § 1718(b)(1) states “The corporation may impose charges or fees…that such operations should be fully self-supporting.” 12 CFR 1251 relates to contributions to housing trust and capital magnet funds, which could be considered a type of charge or fee. The statute authorizes these charges, but does not mandate them.