§ 202.11. Title I.
154 words·~1 min read·
/us/cfr/t24/s§ 202.11·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Types of administrative action. In addition to termination of the Contract of Insurance, certain sanctions may be imposed under the Title I program. The administrative actions that may be applied are set forth in 24 CFR part 25. Civil money penalties may be imposed against Title I lenders and mortgagees pursuant to 24 CFR part 30.
(b)Grounds for action. Administrative actions shall be based upon both the grounds set forth in 24 CFR part 25 and as follows:
(1)Failure to properly supervise and monitor dealers under the provisions of part 201 of this title;
(2)Exhaustion of the general insurance reserve established under part 201 of this title;
(3)Maintenance of a Title I claims/loan ratio representing an unacceptable risk to the Department; or
(4)Transfer of a Title I loan to a party that does not have a valid Title I Contract of Insurance. \[75 FR 20734, Apr. 20, 2010\]
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- 24 CFR 25
- 24 CFR 30
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§ 202.11
Title I.
C.F.R.×1
Fed. Reg.×1
Cite24 CFR 25
Cite24 CFR 30
Cites 2Cited by 2 across 2 sources