12 CFR 1250.1 - Purpose.

Regulations last checked for updates: May 19, 2024

Title 12 - Banks and Banking last revised: May 16, 2024

View all text of Part 1250 [§ 1250.1 - § 1250.3]

§ 1250.1 - Purpose.

The purpose of this part is to set forth the responsibilities of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation (collectively, Enterprises) under the Flood Disaster Protection Act of 1973 (FDPA), as amended (42 U.S.C. 4002 et seq.) and the procedures to be used by the Federal Housing Finance Agency (FHFA) in any proceeding to assess civil money penalties against an Enterprise.

authority: 12 U.S.C. 4521(a)(4) and 4526; 28 U.S.C. 2461 note; 42 U.S.C. 4001 note; 42 U.S.C. 4012a(f)(3), (4), (5), (8), (9), and (10)

source: 74 FR 2349, Jan. 15, 2009, unless otherwise noted.

cite as: 12 CFR 1250.1