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Treble Damages for Failure To Engage in Loss Mitigation

HUD · hud-other · Published 2005-04-26 · Effective 2005-05-26 · 70 FR 21572

Document

Document number
05-8334
Federal Register citation
70 FR 21572
CFR reference
24 CFR 30
Type
Rule
Action
Final rule.
Category
hud-other
Agency
US Department of Housing and Urban Development
Publication date
2005-04-26
Effective date
2005-05-26
Docket
Docket No. FR-4553-F-03

Abstract

This final rule amends HUD's civil money penalty regulations to reflect HUD's authorization to impose treble damages on a mortgagee for any mortgage for which the mortgagee had a duty but failed to engage in appropriate loss mitigation actions. The final rule follows publication of a proposed rule, takes into consideration the public comments received on the proposed rule, but makes no changes at this final rule stage.

Source

Authoritative
Federal Register document
Machine
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