Loan guarantees for Indian housing.

  1. Law
  2. CFR 24
  3. Housing and Urban Development
  4. Office of the Secretary, Department of Housing and Urban Development
  5. Civil Money Penalties: Certain Prohibited Conduct
  6. Violations
  7. Loan guarantees for Indian housing.

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§ 30.40 Loan guarantees for Indian housing.

Cross Reference
Link to an amendment published at 87 FR 24420, Apr. 26, 2022.

(a) General. The Assistant Secretary for Public and Indian Housing (or his/her designee) may initiate a civil money penalty action against any mortgagee or holder of a guarantee certificate who knowingly and materially violates the provisions of 12 U.S.C. 1715z-13a(g)(2) concerning loan guarantees for Indian housing.

(b) Continuing violation. Each day that a violation continues shall constitute a separate violation.

(c) Amount of penalty. The maximum penalty is $10,366 for each violation, up to a limit of $2,073,133 for all violations committed during any one-year period. Each violation shall constitute a separate violation as to each mortgage or loan application.

[61 FR 50215, Sept. 24, 1996, as amended at 65 FR 9087, Feb. 23, 2000; 68 FR 12788, Mar. 17, 2003; 72 FR 5588, Feb. 6, 2007; 78 FR 4059, Jan. 18, 2013; 81 FR 38935, June 15, 2016; 82 FR 24524, May 30, 2017; 83 FR 32793, July 16, 2018; 84 FR 9453, Mar. 15, 2019; 85 FR 13044, Mar. 6, 2020; 86 FR 14373, Mar. 16, 2021]


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