C.F.R. » Title 24 » CHAPTER II—OFFICE OF ASSISTANT SECRETARY FOR HOUSING—FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT › SUBCHAPTER B—MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES › PART 201—TITLE I PROPERTY IMPROVEMENT AND MANUFACTURED HOME LOANS › Subpart A—General

24 C.F.R. § 201.5

Waivers

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Waiver of lender's noncompliance. The Secretary may waive a lender's noncompliance with any provision of this part, subject to statutory limitations, when it is determined that enforcement of the regulations would impose an injustice upon a lender which has substantially complied with the regulations in good faith and refunded or credited any excess charge made, and when such waiver does not involve an increase in the Secretary's obligation beyond that which would have been involved if the lender was in full compliance with the regulations.

[56 FR 52429, Oct. 18, 1991, as amended at 61 FR 5206, Feb. 9, 1996]
Notes of Decisions
Cited in 1 case, 1977–1977 · leading case: Guardian Fed. Sav. & Loan Ass'n v. Harris, 441 F. Supp. 789 (D.D.C. 1977).
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Guardian Fed. Sav. & Loan Ass'n v. Harris, 441 F. Supp. 789 (D.D.C. 1977). “” 24 C.F.R. § 201.5 (b). An initial determination of a note’s eligibility is made when it is executed; the two notes here apparently were complete and regular when executed.”
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