Principal (HUD supplement to governmentwide definition at 2 CFR 180.995).

2 C.F.R. § 2424.995
in effectEffective: 2024-07-01
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A person who has a critical influence on, or substantive control over, a covered transaction, whether or not employed by the participant. Persons who have a critical influence on, or substantive control over, a covered transaction may include, but are not limited to: (a) Loan officers; (b) Staff appraisers and inspectors; (c) Underwriters; (d) Bonding companies; (e) Borrowers under programs financed by HUD or with loans guaranteed, insured, or subsidized through HUD programs; (f) Purchasers of properties with HUD-insured or Secretary-held mortgages; (g) Recipients under HUD assistance agreements; (h) Ultimate beneficiaries of HUD programs; (i) Fee appraisers and inspectors; (j) Real estate agents and brokers; (k) Management and marketing agents; (l) Accountants, consultants, investment bankers, architects, engineers, and attorneys who are in a business relationship with participants in connection with a covered transaction under a HUD program; (m) Contractors involved in the construction or rehabilitation of properties financed by HUD, with HUD-insured loans or acquired properties, including properties held by HUD as mortgagee-in-possession; (n) Closing agents; (o) Turnkey developers of projects financed by or with financing insured by HUD; (p) Title companies; (q) Escrow agents; (r) Project owners; (s) Administrators of hospitals, nursing homes, and projects for the elderly financed or insured by HUD; and (t) Developers, sellers, or owners of property financed with loans insured under Title I or Title II of the National Housing Act.

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