Page:Emergency Economic Stabilization Act of 2008.djvu/60

 O:kiYOkiYO08C04.xml 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 60 other than as expressly provided in a written con- tract with the Secretary. (4) STAYS.--Any injunction or other form of equitable relief issued against the SecretroT for ac- tions pursuant to section 101, 102, 106, and 109, shall be automatically stayed. The stay shall be lift- ed unless the SecretroT seeks a stay from a higher court within 3 calendar days after the date on which the relief is issued. (b) RELATED MATTERS.- (]) TREATMENT OF HOMEOYVNERS' RIGHTS. The terms of any residential mortgage loan that is part of any pro'chase by the SecretaT under this Act shall remain subject to all claims and defenses that would othevise apply, notwithstanding the exercise of authority by the SecretroT under this Act. (2) SAWNGS CLAUSE.--Any exercise of the au- thority of the SecretroT pm'suant to this Act shall not impair the claims or defenses that would other- wise apply with respect to persons other than the SecretaT. Except as established in any contract, a seMcer of pooled residential mortgages owes any duty to determine whether the net present value of the payments on the loan, as modified, is likely to be greater than the anticipated net recoveT that

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