Laws: Cases and Codes : U.S. Code : Title 12 : Section 1701q-1


   
U.S. Code as of: 01/19/04
Section 1701q-1. Civil money penalties against mortgagors under section 1701q of this title

    (a) In general
      The penalties set forth in this section shall be in addition to
    any other available civil remedy or criminal penalty, and may be
    imposed whether or not the Secretary imposes other administrative
    sanctions. The Secretary may not impose penalties under this
    section for violations a material cause of which are the failure of
    the Department, an agent of the Department, or a public housing
    agency to comply with existing agreements.
    (b) Penalty for violation of agreement as condition of transfer of
      physical assets, flexible subsidy loan, capital improvement loan,
      modification of mortgage terms, or workout agreement
      (1) In general
        Whenever a mortgagor of property that includes 5 or more living
      units and that has a mortgage held pursuant to section 1701q of
      this title, who has agreed in writing, as a condition of a
      transfer of physical assets, a flexible subsidy loan, a capital
      improvement loan, a modification of the mortgage terms, or a
      workout agreement, to use nonproject income to make cash
      contributions for payments due under the note and mortgage, for
      payments to the reserve for replacements, to restore the project
      to good physical condition, or to pay other project liabilities,
      knowingly and materially fails to comply with any of these
      commitments, the Secretary may impose a civil money penalty on
      the mortgagor in accordance with the provisions of this section.
      (2) Amount
        The amount of the penalty, as determined by the Secretary, for
      a violation of this subsection may not exceed the amount of the
      loss the Secretary would incur at a foreclosure sale, or sale
      after foreclosure, with respect to the property involved.
    (c) Violations of regulatory agreement
      (1) In general
        The Secretary may also impose a civil money penalty on a
      mortgagor or property that includes 5 or more living units and
      that has a mortgage held pursuant to section 1701q of this title
      for any knowing and material violation of the regulatory
      agreement executed by the mortgagor, as follows:
          (A) Conveyance, transfer, or encumbrance of any of the
        mortgaged property, or permitting the conveyance, transfer, or
        encumbrance of such property, without the prior written
        approval of the Secretary.
          (B) Assignment, transfer, disposition, or encumbrance of any
        personal property of the project, including rents, or paying
        out any funds, except for reasonable operating expenses and
        necessary repairs, without the prior written approval of the
        Secretary.
          (C) Conveyance, assignment, or transfer of any beneficial
        interest in any trust holding title to the property, or the
        interest of any general partner in a partnership owning the
        property, or any right to manage or receive the rents and
        profits from the mortgaged property, without the prior written
        approval of the Secretary.
          (D) Remodeling, adding to, reconstructing, or demolishing any
        part of the mortgaged property or subtracting from any real or
        personal property of the project, without the prior written
        approval of the Secretary.
          (E) Requiring, as a condition of the occupancy or leasing of
        any unit in the project, any consideration or deposit other
        than the prepayment of the first month's rent, plus a security
        deposit in an amount not in excess of 1 month's rent, to
        guarantee the performance of the covenants of the lease.
          (F) Not holding any funds collected as security deposits
        separate and apart from all other funds of the project in a
        trust account, the amount of which at all times equals or
        exceeds the aggregate of all outstanding obligations under the
        account.
          (G) Payment for services, supplies, or materials which
        exceeds $500 and substantially exceeds the amount ordinarily
        paid for such services, supplies, or materials in the area
        where the services are rendered or the supplies or materials
        furnished.
          (H) Failure to maintain at any time the mortgaged property,
        equipment, buildings, plans, offices, apparatus, devices,
        books, contracts, records, documents, and other related papers
        (including failure to keep copies of all written contracts or
        other instruments which affect the mortgaged property) in
        reasonable condition for proper audit and for examination and
        inspection at any reasonable time by the Secretary or any duly
        authorized agents of the Secretary.
          (I) Failure to maintain the books and accounts of the
        operations of the mortgaged property and of the project in
        accordance with requirements prescribed by the Secretary.
          (J) Failure to furnish the Secretary, by the expiration of
        the 60-day period beginning on the 1st day after the completion
        of each fiscal year, with a complete annual financial report
        based upon an examination of the books and records of the
        mortgagor prepared in accordance with requirements prescribed
        by the Secretary, and prepared and certified to by an
        independent public accountant or a certified public accountant
        and certified to by an officer of the mortgagor, unless the
        Secretary has approved an extension of the 60-day period in
        writing. The Secretary shall approve an extension where the
        mortgagor demonstrates that failure to comply with this
        subparagraph is due to events beyond the control of the
        mortgagor.
          (K) At the request of the Secretary, the agents of the
        Secretary, the employees of the Secretary, or the attorneys of
        the Secretary, failure to furnish monthly occupancy reports or
        failure to provide specific answers to questions upon which
        information is sought relative to income, assets, liabilities,
        contracts, the operation and condition of the property, or the
        status of the mortgage.
          (L) Failure to make promptly all payments due under the note
        and mortgage, including tax and insurance escrow payments, and
        payments to the reserve for replacements when there is adequate
        project income available to make such payments.
          (M) Amending the articles of incorporation or bylaws, other
        than as permitted under the terms of the articles of
        incorporation as approved by the Secretary, without the prior
        written approval of the Secretary.
      (2) Amount of penalty
        A penalty imposed for a violation under this subsection, as
      determined by the Secretary, may not exceed $25,000 for a
      violation of any of the subparagraphs of paragraph (1).
    (d) Agency procedures
      (1) Establishment
        The Secretary shall establish standards and procedures
      governing the imposition of civil money penalties under
      subsections (b) and (c) of this section. These standards and
      procedures - 
          (A) shall provide for the Secretary or other department
        official (such as the Assistant Secretary for Housing) to make
        the determination to impose a penalty;
          (B) shall provide for the imposition of a penalty only after
        the mortgagor has been given an opportunity for a hearing on
        the record; and
          (C) may provide for review by the Secretary of any
        determination or order, or interlocutory ruling, arising from a
        hearing.
      (2) Final orders
        If no hearing is requested within 15 days of receipt of the
      notice of opportunity for hearing, the imposition of the penalty
      shall constitute a final and unappealable determination. If the
      Secretary reviews the determination or order, the Secretary may
      affirm, modify, or reverse that determination or order. If the
      Secretary does not review the determination or order within 90
      days of the issuance of the determination or order, the
      determination or order shall be final.
      (3) Factors in determining amount of penalty
        In determining the amount of a penalty under subsection (b) or
      (c) of this section, consideration shall be given to such factors
      as the gravity of the offense, any history of prior offenses
      (including offenses occurring before December 15, 1989), ability
      to pay the penalty, injury to the tenants, injury to the public,
      benefits received, deterrence of future violations, and such
      other factors as the Secretary may determine in regulations to be
      appropriate.
      (4) Reviewability of imposition of penalty
        The Secretary's determination or order imposing a penalty under
      subsection (b) or (c) of this section shall not be subject to
      review, except as provided in subsection (e) of this section.
    (e) Judicial review of agency determination
      (1) In general
        After exhausting all administrative remedies established by the
      Secretary under subsection (d)(1) of this section, a mortgagor
      against whom the Secretary has imposed a civil money penalty
      under subsection (b) or (c) of this section may obtain a review
      of the penalty and such ancillary issues as may be addressed in
      the notice of determination to impose a penalty under subsection
      (d)(1)(A) of this section in the appropriate court of appeals of
      the United States, by filing in such court, within 20 days after
      the entry of such order or determination, a written petition
      praying that the Secretary's order or determination be modified
      or be set aside in whole or in part.
      (2) Objections not raised in hearing
        The court shall not consider any objection that was not raised
      in the hearing conducted pursuant to subsection (d)(1) of this
      section unless a demonstration is made of extraordinary
      circumstances causing the failure to raise the objection. If any
      party demonstrates to the satisfaction of the court that
      additional evidence not presented at such hearing is material and
      that there were reasonable grounds for the failure to present
      such evidence at the hearing, the court shall remand the matter
      to the Secretary for consideration of such additional evidence.
      (3) Scope of review
        The decisions, findings, and determinations of the Secretary
      shall be reviewed pursuant to section 706 of title 5.
      (4) Order to pay penalty
        Notwithstanding any other provision of law, in any such review,
      the court shall have the power to order payment of the penalty
      imposed by the Secretary.
    (f) Action to collect penalty
      If a mortgagor fails to comply with the Secretary's determination
    or order imposing a civil money penalty under subsection (b) or (c)
    of this section, after the determination or order is no longer
    subject to review as provided by subsections (d)(1) and (e) of this
    section, the Secretary may request the Attorney General of the
    United States to bring an action in an appropriate United States
    district court to obtain a monetary judgment against the mortgagor
    and such other relief as may be available. The monetary judgment
    may, in the court's discretion, include the attorneys fees and
    other expenses incurred by the United States in connection with the
    action. In an action under this subsection, the validity and
    appropriateness of the Secretary's determination or order imposing
    the penalty shall not be subject to review.
    (g) Settlement by Secretary
      The Secretary may compromise, modify, or remit any civil money
    penalty which may be, or has been, imposed under this section.
    (h) "Knowingly" defined
      The term "knowingly" means having actual knowledge of or acting
    with deliberate ignorance of or reckless disregard for the
    prohibitions under this section.
    (i) Regulations
      The Secretary shall issue such regulations as the Secretary deems
    appropriate to implement this section.
    (j) Deposit of penalties in insurance funds
      Notwithstanding any other provision of law, all civil money
    penalties collected under this section shall be deposited in the
    fund established under section 1715z-1a(j) of this title.



Previous [Notes] Next

Related Resources

Banking Law Guide

Banking Articles and Documents

Banking Discussion

Ads by FindLaw