24 C.F.R. § 30.50 GNMA issuers and custodians.
Title 24 - Housing and Urban Development
(a) General. The President of GNMA, or his or her designee, may initiate a civil money penalty action against a GNMA issuer or custodian that knowingly and materially violates any provision of 12 U.S.C. 1723i(b), title III of the National Housing Act, or any implementing regulation, handbook, guaranty agreement, or contractual agreement, or participant letter issued by GNMA, or fails to comply with the terms of a settlement agreement with GNMA. (b) Continuing violation. Each day that a violation continues shall constitute a separate violation. (c) Amount of penalty. The maximum penalty is $6,500 for each violation, up to a limit of $1,250,000 during any one-year period. Each violation shall constitute a separate violation with respect to each pool of mortgages. [61 FR 50215, Sept. 24, 1996, as amended at 68 FR 12788, Mar. 17, 2003]
Title 24: Housing and Urban Development
PART 30—CIVIL MONEY PENALTIES: CERTAIN PROHIBITED CONDUCT
Subpart B—Violations
§ 30.50 GNMA issuers and custodians.
