[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: 24CFR25.7]



[Page 276]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

PART 25_MORTGAGEE REVIEW BOARD--Table of Contents

 

Sec.  25.7  Notice of administrative action.



    Whenever the Board takes an action to issue a letter of reprimand, 

to place a mortgagee on probation, or to suspend or withdraw a 

mortgagee's approval, the Board shall promptly notify the mortgagee in 

writing of the determination. Except for a letter of reprimand, the 

notice shall describe the nature and duration of the administrative 

action, shall specifically state the violations, and shall set forth the 

findings of the Board. The notice shall inform the mortgagee of its 

right to a hearing, pursuant to Sec.  25.8, regarding the administrative 

action (except for a letter of reprimand) and of the manner and time in 

which to request a hearing. A supplemental notice may be issued in the 

discretion of the Board to add or modify the reasons for the action.



[60 FR 39237, Aug. 1, 1995]