Mortgage proceeds fraudulently misappropriated by mortgagor; recovery of deficiency after foreclosure

12 U.S.C. § 1701l–1
in effect
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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.

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