U.S. Code of Federal Regulations
Regulations most recently checked for updates: Oct 20, 2019
(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 $10,067 for each violation, up to a limit of $2,013,399 for all violations committed during any one-year period. Each violation shall constitute a separate violation as to each mortgage or loan application.