12 U.S.C. § 1701l-1 : US Code - Section 1701L-1: Mortgage proceeds fraudulently misappropriated by mortgagor; recovery of deficiency after foreclosure
Search 12 U.S.C. § 1701l-1 : US Code - Section 1701L-1: 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.
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