Loan guarantees for Indian housing.

24 C.F.R. § 30.40
in effectEffective: 2024-07-01
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(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 $12,249 for each violation, up to a limit of $2,449,575 for all violations committed during any one-year period. Each violation shall constitute a separate violation as to each mortgage or loan application.

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