United States Code
USC most recently checked for updates: Mar 21, 2023
Mortgage proceeds fraudulently misappropriated by mortgagor; recovery of deficiency after foreclosure
The Secretary of Housing and Urban Development shall take action to secure the payment of any deficiency after foreclosure on a mortgage insured or assisted under Federal law where the Secretary has reason to believe that the mortgage proceeds have been fraudulently misappropriated by the mortgagor.
(Pub. L. 93–383, title VIII, § 819,
Aug. 22, 1974, 88 Stat. 740.)
cite as: 12 USC 1701l-1