Source: http://www.law.cornell.edu/cfr/text/24/25.5?quicktabs_7=0
Timestamp: 2013-12-09 01:40:42
Document Index: 24857884

Matched Legal Cases: ['§ 25', '§ 25', '§ 25', '§ 1708', '§ 1709', '§ 1715', '§ 1735']

24 CFR 25.5 - Administrative actions. | Title 24 - Housing and Urban Development | Code of Federal Regulations | LII / Legal Information Institute
The Board is authorized to take administrative actions in accordance with 12 U.S.C. 1708(c), including, but not limited to, the following: issue a letter of reprimand, probation, suspension, or withdrawal; or enter into a settlement agreement.
(b) Letter of reprimand.
A letter of reprimand shall be effective upon receipt of the letter by the mortgagee. Failure to comply with a directive in the letter of reprimand may result in any other administrative action that the Board finds appropriate as provided by 12 U.S.C. 1708(c).
Probation shall be effective upon receipt of the notice of probation by the mortgagee. Failure to comply with the terms of probation may result in any other administrative action that the Board finds appropriate as provided by 12 U.S.C. 1708(c).
(d) Suspension—
(1) Effect of suspension.
During the period of suspension, HUD will not endorse any mortgage originated by the suspended mortgagee under the Title II program unless prior to the date of suspension:
(2) Effective date of suspension.
A suspension issued pursuant to § 25.7(d) is effective upon issuance. Any other suspension is effective upon receipt of the notice of suspension by the mortgagee.
(e) Withdrawal—
(1) Effect of withdrawal.
During the period of withdrawal, HUD will not endorse any mortgage originated by the withdrawn mortgagee under the Title II program, unless prior to the date of withdrawal:
(2) Effective date of withdrawal.
(i) If the Board determines that immediate action is in the public interest or in the best interests of the Department, then withdrawal shall be effective upon receipt of the Board's notice of withdrawal.
(A) Upon the expiration of the 30-day period specified in § 25.10, if the mortgagee has not requested a hearing; or
(B) Upon receipt of the Board's decision under § 25.10, if the mortgagee requests a hearing.
Title 24 published on 2013-04-01no entries appear in the Federal Register after this date. This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.United States CodeUSC : Title 12 - BANKS AND BANKING§ 1708 - Federal Housing Administration operations§ 1709 - Insurance of mortgages§ 1715b - Rules and regulations§ 1735 - Payment of certain funds to Treasury