§3565.505. Liability.
7 C.F.R. § 3565.505
Ginnie Mae shall not be liable for the actions of the lender including, but not limited to, negligence, fraud, abuse, misrepresentation or misuse of funds, property condition, or violations of usury laws.
Ginnie Mae's rights under the guarantee shall be fully enforceable notwithstanding the actions of the lender.
Notes, amendments, and revision history
Source
Source: 70 FR 2934, Jan. 19, 2005, unless otherwise noted.
Authority
Authority: 5 U.S.C. 301; 7 U.S.C. 1989; 42 U.S.C. 1480.
Source
Source: 63 FR 39458, July 22, 1998, unless otherwise noted.