§ 30.40. Loan guarantees for Indian housing.
193 words·~1 min read·
/us/cfr/t24/s§ 30.40·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(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 \$12,567 for each violation, up to a limit of \$2,513,215 for all violations committed during any one-year period. Each violation shall constitute a separate violation as to each mortgage or loan application. \[61 FR 50215, Sept. 24, 1996, as amended at 65 FR 9087, Feb. 23, 2000; 68 FR 12788, Mar. 17, 2003; 72 FR 5588, Feb. 6, 2007; 78 FR 4059, Jan. 18, 2013; 81 FR 38935, June 15, 2016; 82 FR 24524, May 30, 2017; 83 FR 32793, July 16, 2018; 84 FR 9453, Mar. 15, 2019; 85 FR 13044, Mar. 6, 2020; 86 FR 14373, Mar. 16, 2021; 87 FR 24420, Apr. 26, 2022; 88 FR 9748, Feb. 15, 2023; 89 FR 13616, Feb. 23, 2024; 90 FR 24747, June 12, 2025\]
Connectionstraces to 1
Traces to 1 document
Citation graph
cites case law
§ 30.40
Loan guarantees for Indian housing.
Cites 1Cited by 0 across 0 sources