24 C.F.R. § 30.40 Loan guarantees for Indian housing.
Title 24 - Housing and Urban Development
(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 $6,000 for each violation, up to a limit of $1,250,000 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]
Title 24: Housing and Urban Development
PART 30—CIVIL MONEY PENALTIES: CERTAIN PROHIBITED CONDUCT
Subpart B—Violations
§ 30.40 Loan guarantees for Indian housing.
