12 CFR Part 1250 — Flood Insurance

PART 1250—FLOOD INSURANCE 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. § 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. § 1250.2 Procedural requirements. (a) Procedures. et seq. (b) Applicability. (2) Paragraph (a) of this section shall not apply to any loan having an original outstanding balance of $5,000 or less and a repayment term of one year or less. § 1250.3 Civil money penalties. (a) In general. (b) Notice and hearing. (c) Amount. (d) Deposit of penalties. (e) Additional penalties. (f) Statute of limitations. [74 FR 2349, Jan. 15, 2009, as amended at 81 FR 8642, Feb. 22, 2016; 81 FR 43031, July 1, 2016; 83 FR 43968, Aug. 29, 2018; 84 FR 9704, Mar. 18, 2019; 85 FR 4905, Jan. 28, 2020; 86 FR 7496, Jan. 29, 2021; 87 FR 1662, Jan. 12, 2022; 87 FR 14770, Mar. 16, 2022; 87 FR 80025, Dec. 29, 2022; 89 FR 3333, Jan. 18, 2024;90 FR 4609, Jan. 16, 2025]

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