24 CFR 27.102 – Designation of foreclosure commissioner and substitute commissioner
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(a) The Secretary may designate foreclosure commissioners, including substitute commissioners, as set forth in the Statute.
Terms Used In 24 CFR 27.102
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Statute: A law passed by a legislature.
(b) The method of selection and determination of the qualifications of the foreclosure commissioner shall be at the discretion of the Secretary. The execution of a designation pursuant to this section shall be conclusive evidence that the commissioner selected has been determined to be qualified by the Secretary. The designation is effective upon execution.