← Civilian agency rules (VA/HUD/ED/SSA)

Amendments to HUD's Mortgagee Review Board and Civil Money Penalty Regulations

HUD · hud-other · Published 2000-02-23 · Effective 2000-03-24 · 65 FR 9084

Document

Document number
00-4193
Federal Register citation
65 FR 9084
CFR reference
24 CFR 25
Type
Rule
Action
Interim rule.
Category
hud-other
Agency
US Department of Housing and Urban Development
Publication date
2000-02-23
Effective date
2000-03-24
Docket
Docket No. FR-4308-I-01

Abstract

This interim rule makes conforming changes to HUD regulations to reflect statutory changes made by the Multifamily Assisted Housing Reform and Affordability Act of 1997 (the Multifamily Reform Act). Among other amendments, the Multifamily Reform Act provides that a suspension issued by the HUD Mortgagee Review Board is effective, without previous 30-day written notice of violation to the mortgagee, if there is sufficient evidence that immediate action is required to protect the financial interests of HUD or the public. The Multifamily Reform Act also expanded the list of persons and types of violations subject to a civil money penalty under HUD's insured housing programs. The interim rule also makes three clarifying, non-substantive amendments to these regulations. The first clarifies under what conditions HUD's Mortgagee Review Board may issue a suspension. The second amendment clarifies the effect of a suspension or withdrawal issued by the Board. The third clarifies that the Assistant Secretary for Public and Indian Housing may initiate a civil money penalty under the section 184 Indian housing loan guarantee program.

Source

Authoritative
Federal Register document
Machine
JSON-LD · Markdown