(C) the provisions of paragraphs (4) and (5) of subsection (b) are met. (d) In determining whether to guarantee a loan under this subchapter, the Secretary shall consider - (1) the availability of Department of Veterans Affairs medical services to residents of the multifamily transitional housing project; and (2) the extent to which needs of homeless veterans are met in a community, as assessed under section 107 of Public Law 102-405. -SOURCE- (Added Pub. L. 105-368, title VI, Sec. 601(a), Nov. 11, 1998, 112 Stat. 3343, Sec. 3773; renumbered Sec. 2052 and amended Pub. L. 107-95, Sec. 5(d)(1), (2)(C), Dec. 21, 2001, 115 Stat. 918.)
-REFTEXT- REFERENCES IN TEXT Section 107 of Public Law 102-405, referred to in subsec. (d)(2), is set out as a note under section 527 of this title.
-MISC1- AMENDMENTS 2001 - Pub. L. 107-95, Sec. 5(d)(1), renumbered section 3773 of this title as this section. Subsec. (a). Pub. L. 107-95, Sec. 5(d)(2)(C), substituted "section 2051 of this title" for "section 3772 of this title" in introductory provisions.
-SECREF- SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in section 2051 of this title.
Sec. 2053. Default
-STATUTE-
(a) The Secretary shall take such steps as may be necessary to obtain repayment on any loan that is in default and that is guaranteed under this subchapter. (b) Upon default of a loan guaranteed under this subchapter and terminated pursuant to State law, a lender may file a claim under the guarantee for an amount not to exceed the lesser of - (1) the maximum guarantee; or (2) the difference between - (A) the total outstanding obligation on the loan, including principal, interest, and expenses authorized by the loan documents, through the date of the public sale (as authorized under such documents and State law); and (B) the amount realized at such sale.
-SOURCE-
(Added Pub. L. 105-368, title VI, Sec. 601(a), Nov. 11, 1998, 112 Stat. 3344, Sec. 3774; renumbered Sec. 2053, Pub. L. 107-95, Sec. 5(d)(1), Dec. 21, 2001, 115 Stat. 918.)
•-MISC1-
AMENDMENTS
2001 - Pub. L. 107-95 renumbered section 3774 of this title as this section.
Sec. 2054. Audit
-STATUTE-
(a) During each of the first 3 years of operation of a multifamily transitional housing project with respect to which a loan is guaranteed under this subchapter, there shall be an annual, independent audit of such operation. Such audit shall include a detailed statement of the operations, activities, and accomplishments of such project during the year covered by such audit. The party responsible for obtaining such audit (and paying the costs therefore) shall be determined before the Secretary issues a guarantee under this subchapter. (b) After the first three years of operation of such a multifamily transitional housing project, the Secretary may provide for periodic audits of the project.
-SOURCE-
(Added Pub. L. 105-368, title VI, Sec. 601(a), Nov. 11, 1998, 112 Stat. 3345, Sec. 3775; amended Pub. L. 106-117, title VII, Sec. 712, Nov. 30, 1999, 113 Stat. 1584; renumbered Sec. 2054, Pub. L. 107-95, Sec. 5(d)(1), Dec. 21, 2001, 115 Stat. 918.)
-MISC1-
AMENDMENTS
2001 - Pub. L. 107-95 renumbered section 3775 of this title as this section. 1999 - Pub. L. 106-117 designated existing provisions as subsec. (a) and added subsec. (b).
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