Code of Federal Regulations · Section
§ 3565.505 — Liability
7 C.F.R. § 3565.505
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(a) 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.
(b) Ginnie Mae's rights under the guarantee shall be fully enforceable notwithstanding the actions of the lender.
Authorizing Statute
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Rules and regulations7 U.S.C. § 1989
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Administrative powers of Secretary42 U.S.C. § 1480
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Departmental regulations5 U.S.C. § 301