12 U.S. Code § -

The Secretary of Housing and Urban Development shall take action to secure the payment of any deficiency after foreclosure on a mortgage insured or assisted under Federal law where the Secretary has reason to believe that the mortgage proceeds have been fraudulently misappropriated by the mortgagor.

Source

(Pub. L. 93–383, title VIII, § 819,Aug. 22, 1974, 88 Stat. 740.)
Codification

Section was enacted as part of the Housing and Community Development Act of 1974, and not as part of the National Housing Act which comprises this chapter.

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24 CFR - Housing and Urban Development

24 CFR Part 291 - DISPOSITION OF HUD-ACQUIRED SINGLE FAMILY PROPERTY

 

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