24 CFR 25.9 – Notice of administrative action
(a) Whenever the Board decides to take an action in accordance with 12 U.S.C. § 1708(c)(3), the Chairperson of the Board, or the Chairperson’s designee, shall issue a written notice of the action to the mortgagee at the mortgagee’s address of record of the determination. Proof of delivery to the mortgagee’s address of record shall establish the mortgagee’s receipt of the notice.
Terms Used In 24 CFR 25.9
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
(b) In actions for probation, suspension, or withdrawal, the notice shall describe the nature and duration of the administrative action, and shall specifically state the reasons for the action. In actions for probation, suspension, or withdrawal, the notice shall inform the mortgagee of its right to a hearing regarding the administrative action and of the manner and time in which to request a hearing.