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Can you summarize 12 USC 1701l1?
NATIONAL HOUSING > Mortgage proceeds fraudulently misappropriated by mortgagor; recovery of deficiency after foreclosure
Short Summary
1701l1. Mortgage proceeds fraudulently misappropriated by mortgagor; recovery of deficiency after foreclosure The Secretary of Housing and Urban Development shall take action to secure the payment of any deficiency after foreclosure on a mortgage insured or assisted under Federal law where the Secretary has reason to believe that the mortgage proceeds have been fraudulently misappropriated by the mortgagor.
Jurisdiction
U.S. Federal Government