7 CFR 762.103 - Full faith and credit.
(a) Fraud and misrepresentation. The loan guarantee constitutes an obligation supported by the full faith and credit of the United States. The Agency may contest the guarantee only in cases of fraud or misrepresentation by a lender or holder, in which:
(1) The lender or holder had actual knowledge of the fraud or misrepresentation at the time it became the lender or holder, or
(b) Lender violations. The loan guarantee cannot be enforced by the lender, regardless of when the Agency discovers the violation, to the extent that the loss is a result of:
(c) Enforcement by holder. The guarantee and right to require purchase will be directly enforceable by the holder even if:
Title 7 published on 2014-01-01
no entries appear in the Federal Register after this date.