Section 30.40 - Loan guarantees for Indian housing(a)General. The Assistant Secretary for Public and Indian Housing (or his/her designee) may initiate a civil money penalty action against any mortgagee or holder of a guarantee certificate who knowingly and materially violates the provisions of 12 U.S.C. 1715z - 13a(g)(2) concerning loan guarantees for Indian housing.(b)Continuing violation. Each day that a violation continues shall constitute a separate violation.(c)Amount of penalty. The maximum penalty is $12,249 for each violation, up to a limit of $2,449,575 for all violations committed during any one-year period. Each violation shall constitute a separate violation as to each mortgage or loan application.61 FR 50215, Sept. 24, 1996, as amended at 65 FR 9087 , Feb. 23, 2000; 68 FR 12788 , Mar. 17, 2003; 72 FR 5588 , Feb. 6, 2007; 78 FR 4059 , Jan. 18, 2013; 81 FR 38935 , June 15, 2016; 82 FR 24524 , May 30, 2017; 83 FR 32793 , July 16, 2018; 84 FR 9453 , Mar. 15, 2019; 85 FR 13044 , Mar. 6, 2020; 86 FR 14373 , Mar. 16, 2021; 87 FR 24420 , Apr. 26, 2022; 88 FR 9748 , Feb. 15, 2023 81 FR 38935 , 8/16/2016; 82 FR 24524 , 6/29/2017; 83 FR 32793 , 8/15/2018; 84 FR 9453 , 4/15/2019; 85 FR 13044 , 4/6/2020; 86 FR 14373 , 4/15/2021; 87 FR 24420 , 5/26/2022; 88 FR 9748 , 3/17/2023; 89 FR 13616 , 3/25/2024