View all text of Subpart B [§ 30.20 - § 30.68]
§ 30.40 - Loan guarantees for Indian housing.
(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 $11,864 for each violation, up to a limit of $2,372,677 for all violations committed during any one-year period. Each violation shall constitute a separate violation as to each mortgage or loan application.