§ 30.69 - SAFE Mortgage Licensing violations.

Latest version.

Link to an amendment published at 81 FR 38935, June 15, 2016.
(a) General. HUD may impose a civil penalty on a loan originator operating in any state that is subject to a licensing system established by HUD under 12 U.S.C. 5107 and in accordance with subpart C of 24 CFR part 3400, if HUD finds that such loan originator has violated or failed to comply with any requirement of the SAFE Act, the provisions of 24 CFR part 3400, or an order issued under the authority of 12 U.S.C. 5113(c).
(b) Maximum amount of penalty. The maximum amount of penalty for each act or omission described in paragraph (a) of this section shall be $25,000.

[76 FR 38492, June 30, 2011]

                    
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