[Code of Federal Regulations]

[Title 24, Volume 1]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR25.4]



[Page 274-275]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

PART 25_MORTGAGEE REVIEW BOARD--Table of Contents

 

Sec.  25.4  Operation of the Mortgagee Review Board.



    (a) Members. The Board consists of the following voting members: The 

Assistant Secretary for Housing--Federal Housing Commissioner who serves 

as chairperson; the General Counsel; the President of the Government 

National Mortgage Association (GNMA); the Assistant Secretary for 

Administration; the Chief Financial Officer of the Department; and, in 

cases involving violations of nondiscrimination requirements, the 

Assistant Secretary for Fair Housing and Equal Opportunity; or their 

designees.

    (b) Advisors. The Inspector General or his or her designee, and the 

Director of the Office of Lender Activities and Land Sales Registration 

(or such other position as may be assigned such duties), and such other 

persons as the Board may appoint, shall serve as nonvoting advisors to 

the Board.



[[Page 275]]



    (c) Quorum. Four members of the Board or their designees shall 

constitute a quorum.

    (d) Determination by the Board. Any administrative action taken by 

the Board shall be determined by a majority vote of the quorum.



[57 FR 31051, July 13, 1992; 57 FR 37085, Aug. 18, 1992]