24 CFR 81.83 - Civil money penalties.

§ 81.83 Civil money penalties.
(a) Imposition. The Secretary may impose a civil money penalty on a GSE that has failed:
(1) To submit, within the time prescribed in § 81.22, a housing plan that substantially complies with 12 U.S.C. 4566(c), as implemented by § 81.22;
(2) To make a good-faith effort to comply with a housing plan submitted and approved by the Secretary; or
(3) To submit any of the information required under sections 309(m) or (n) of the Fannie Mae Charter Act, sections 307(e) or (f) of the Freddie Mac Act, or subpart E of this part.
(b) Amount of penalty. The amount of the penalty shall not exceed:
(1) For any failure described in paragraph (a)(1) of this section, $35,000 for each day that the failure occurs; and
(2) For any failure described in paragraphs (a)(2) or (a)(3) of this section, $16,000 for each day that the failure occurs.
(c) Factors in determining amount of penalty. In determining the amount of a penalty under this section, the Secretary shall consider the factors in 12 U.S.C. 4585(c)(2) including the public interest.
(d) Procedures—
(1) Notice of Intent. The Secretary shall notify the GSE in writing of the Secretary's determination to impose a civil money penalty by issuing a Notice of Intent to Impose Civil Money Penalties (“Notice of Intent”). The Notice of Intent shall provide:
(i) A concise statement of the facts constituting the alleged misconduct;
(ii) The amount of the civil money penalty;
(iii) Notice of the GSE's right to a hearing on the record;
(iv) The procedures to follow to obtain a hearing;
(v) A statement of the consequences of failing to request a hearing; and
(vi) The date the penalty shall be due unless the GSE contests the matter.
(2) To appeal the Secretary's decision to impose a civil money penalty, the GSE shall, within 20 days of service of the Notice of Intent, file a written Answer with the Chief Docket Clerk, Office of Administrative Law Judges, Department of Housing and Urban Development, at the address provided in the Notice of Intent.
(3) Administrative law judge. A HUD ALJ shall preside over any hearing conducted under this section, in accordance with § 81.84 and, to the extent the provisions are not inconsistent with any of the procedures in this part or FHEFSSA, with 24 CFR part 26, subpart B.
(4) Issuance of order. If the GSE consents to the issuance of the order or the ALJ finds, on the hearing record, that a preponderance of the evidence establishes the conduct specified in the notice of charges, the ALJ may issue an order imposing a civil money penalty.
(5) Consultation with the Director. In the Secretary's discretion, the Director of OFHEO may be requested to review any Notice of Intent, determination, order, or interlocutory ruling arising from a hearing.
(e) Action to collect penalty. The Secretary may request the Attorney General of the United States to bring an action to collect the penalty, in accordance with 12 U.S.C. 4585(d). Interest on, and other charges for, any unpaid penalty may be assessed in accordance with 31 U.S.C. 3717.
(f) Settlement by Secretary. The Secretary may compromise, modify, or remit any civil money penalty that may be, or has been, imposed under this section.
[60 FR 61888, Dec. 1, 1995, as amended at 61 FR 50218, Sept. 24, 1996; 68 FR 12788, Mar. 17, 2003; 72 FR 5588, Feb. 6, 2007]

Title 24 published on 2014-04-01

no 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 Code
U.S. Code: Title 12 - BANKS AND BANKING

§ 1451 - Definitions

§ 1452 - Federal Home Loan Mortgage Corporation

§ 1453 - Capitalization of Federal Home Loan Mortgage Corporation

§ 1454 - Purchase and sale of mortgages; residential mortgages; conventional mortgages; terms and conditions of sale or other disposition; authority to enter into, perform, and carry out transactions

§ 1455 - Obligations and securities of the Corporation

§ 1456 - Immunity of Corporation; audits and reporting requirements; data collection; Housing Advisory Council

§ 1457 - Prohibited activities; penalties for violations by organizations, officers and members of organizations, and individuals

§ 1458 - Territorial applicability

§ 1459 - Separability

§ 1716 - Declaration of purposes of subchapter

12 U.S. Code § 1701i, 1701i–1 - Omitted

§ 1716b - Partition of Federal National Mortgage Association into Federal National Mortgage Association and Government National Mortgage Association; assets and liabilities; operations

§ 1717 - Federal National Mortgage Association and Government National Mortgage Association

§ 1717a - Prohibition against sale of obligations by Federal departments and agencies after June 30, 1966, without compliance with requirements of

§ 1718 - Capitalization of Federal National Mortgage Association

§ 1719 - Secondary market operations

§ 1720 - Repealed.

§ 1721 - Management and liquidation functions of Government National Mortgage Association

§ 1722 - Benefits and burdens incident to administration of functions and operations under

§ 1723 - Management

§ 1723a - General powers of Government National Mortgage Association and Federal National Mortgage Association

§ 1723b - Investment of funds

§ 1723c - Obligations, participations, or other instruments as lawful investments; acceptance as security; exempt securities

§ 1723d - Transfer of certain functions to Association

§ 1723e - Repealed.

§ 1723f - Repealed.

§ 1723h - Repealed.

§ 4501 - Congressional findings

§ 4502 - Definitions

§ 4503 - Protection of taxpayers against liability

§ 4511 - Establishment of the Federal Housing Finance Agency

§ 4512 - Director

§ 4513 - Duties and authorities of Director

§ 4513a - Federal Housing Finance Oversight Board

§ 4513b - Prudential management and operations standards

§ 4514 - Authority to require reports by regulated entities

§ 4514a - Study and reports on guarantee fees

§ 4515 - Personnel

§ 4516 - Funding

§ 4517 - Examinations

§ 4518 - Prohibition and withholding of executive compensation

§ 4518a - Limitation on bonuses to executives of Fannie Mae and Freddie Mac

§ 4519 - Authority to provide for review of regulated entities

§ 4520 - Minority and women inclusion; diversity requirements

§ 4521 - Annual reports by Director

§ 4522 - Public disclosure of final orders and agreements

§ 4523 - Limitation on subsequent employment

§ 4524 - Audits by GAO

§ 4525 - Information, records, and meetings

§ 4526 - Regulations and orders

§ 4541 - Prior approval authority for products

§ 4542 - Housing Price Index

§ 4543 - Public access to mortgage information

§ 4544 - Annual housing report

§ 4545 - Fair housing

§ 4546 - Prohibition of public disclosure of proprietary information

§ 4547 - Enterprise guarantee fees

§ 4548 - Repealed.

§ 4561 - Establishment of housing goals

§ 4562 - Single-family housing goals

§ 4563 - Multifamily special affordable housing goal

§ 4564 - Discretionary adjustment of housing goals

§ 4565 - Duty to serve underserved markets and other requirements

§ 4566 - Monitoring and enforcing compliance with housing goals

§ 4567 - Affordable housing allocations

§ 4568 - Housing Trust Fund

§ 4569 - Capital Magnet Fund

§ 4581 - Cease and desist proceedings

§ 4582 - Hearings

§ 4583 - Judicial review

§ 4584 - Enforcement and jurisdiction

§ 4585 - Civil money penalties

§ 4586 - Public disclosure of final orders and agreements

§ 4587 - Notice of service

§ 4588 - Subpoena authority

§ 4589 - Repealed.

§ 4601 - Review of underwriting guidelines

§ 4602 - Studies of effects of privatization of FNMA and FHLMC

§ 4603 - Transition

§ 4611 - Risk-based capital levels for regulated entities

§ 4612 - Minimum capital levels

§ 4613 - Critical capital levels

§ 4614 - Capital classifications

§ 4615 - Supervisory actions applicable to undercapitalized regulated entities

§ 4616 - Supervisory actions applicable to significantly undercapitalized regulated entities

§ 4617 - Authority over critically undercapitalized regulated entities

§ 4618 - Notice of classification and enforcement action

§ 4619 to 4621 - Repealed.

§ 4622 - Capital restoration plans

§ 4623 - Judicial review of Director action

§ 4624 - Reviews of enterprise assets and liabilities

§ 4631 - Cease-and-desist proceedings

§ 4632 - Temporary cease-and-desist orders

§ 4633 - Hearings

§ 4634 - Judicial review

§ 4635 - Enforcement and jurisdiction

§ 4636 - Civil money penalties

§ 4636a - Removal and prohibition authority

§ 4636b - Criminal penalty

§ 4637 - Notice after separation from service

§ 4638 - Private rights of action

§ 4639 - Public disclosure of final orders and agreements

§ 4640 - Notice of service

§ 4641 - Subpoena authority

U.S. Code: Title 28 - JUDICIARY AND JUDICIAL PROCEDURE
U.S. Code: Title 42 - THE PUBLIC HEALTH AND WELFARE