12 U.S.C. § 371 (National Bank Mortgage Authority)

Updated 2024-07-29

12 U.S.C. § 371 provides the statutory authority for national banks to engage in mortgage banking activities. This federal statute permits national banks to make, arrange, purchase, or sell loans or extensions of credit that are secured by liens or interests in real estate.

This authority is further clarified and implemented by regulations issued by the Office of the Comptroller of the Currency (OCC), specifically 12 CFR Part 34, which sets forth real estate lending standards for national banks.