24 CFR 30.40
§ 30.40 Loan guarantees for Indian housing.
United States · 24 CFR — Housing and Urban Development · Status: effective
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- Citation
- 24 CFR 30.40, § 30.40 Loan guarantees for Indian housing, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/98245
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Full text
(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.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.