24 CFR 1005.529
§ 1005.529 Indemnification.
United States · 24 CFR — Housing and Urban Development · Status: effective
Cite this
- Citation
- 24 CFR 1005.529, § 1005.529 Indemnification, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/102707
- Permanent ID
ys:prov:102707@1- SHA-256
6def8d3a226cb2f3779a6eeeaa906f2e0a6c6acd7af958895573c51dc9cbf2f2
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(a) When HUD conducts a pre- or post-endorsement review and HUD determines there is an underwriting deficiency where the Section 184 Guaranteed Loan should not have been approved, HUD may request the originating Direct Guarantee Lender to indemnify HUD.
(b) Underwriting deficiencies with respect to the Section 184 Guaranteed Loan may include but is not limited to fraud or misrepresentation by the originating Direct Guarantee Lender.
(c) HUD will notify the originating Direct Guarantee Lender in writing when an indemnification is required.
(d) Under an indemnification, the originating Direct Guarantee Lender must reimburse HUD when a subsequent Holder files a Claim and HUD suffers a financial loss.
(e) If the originating Direct Guarantee Lender fails to indemnify HUD, HUD may impose sanctions pursuant to §§ 1005.905 and 1005.907.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.