24 CFR 200.1500 - Sanctions against a MAP lender.

Regulations last checked for updates: Nov 22, 2024

Title 24 - Housing and Urban Development last revised: Nov 13, 2024

View all text of Subpart Y [§ 200.1500 - § 200.1545]

§ 200.1500 - Sanctions against a MAP lender.

(a) In addition to any other legal remedy available to HUD, HUD may take the following actions with respect to a MAP lender:

(1) Warning letter;

(2) Probation;

(3) Suspension;

(4) Termination;

(5) Limited Denial of Participation (LDP);

(6) Referral to the Mortgagee Review Board; and

(7) Referral to the Office of Inspector General.

(b) The actions listed in paragraphs (a)(1) through (a)(4) of this section are carried out in accordance with the requirements of this subpart. An LDP is a sanction applied in accordance with subpart J of 2 CFR part 2424 to participants in loan transactions other than FHA-insured lenders. The Mortgagee Review Board procedures are found at 24 CFR part 25.

[70 FR 43242, July 26, 2005, as amended at 72 FR 73494, Dec. 27, 2007]

authority: 12 U.S.C. 1702-1715z-21; 42 U.S.C. 3535(d)

source: 36 FR 24467, Dec. 22, 1971, unless otherwise noted.

cite as: 24 CFR 200.1500