Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 12 - Banks and Banking |
Chapter XVII - Office of Federal Housing Enterprise Oversight, Department of Housing and Urban Development |
SubChapter A - OFHEO Organization and Functions |
Part 1704 - DEBT COLLECTION |
Subpart C - Administrative Offset |
§ 1704.41 - Administrative offset prior to completion of procedures.
Latest version.
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Prior to the completion of the procedures described in § 1704.42, OFHEO may effect administrative offset if failure to offset would substantially prejudice its ability to collect the debt, and if the time before the payment is to be made does not reasonably permit completion of the procedures described in
§ 1704.42. Such prior administrative offset shall be followed promptly by the completion of the procedures described in § 1704.42.