15.14 Notice of Violation

A. Before the MAP Lender Review Board considers imposing a sanction on a MAP Lender, the Board’s Chairperson will issue a written Notice of Violation and of the proposed sanction to the Lender’s contact person as listed on the MAP web site. The Notice will be sent electronically and by overnight delivery and must be signed for by an employee of the MAP Lender upon receipt. The Notice of Violation will:

1. Inform the Lender that the Board is considering a specific violation and sanction.

2. State the alleged factual violations with a citation to the Department’s requirements that have been violated.

3. Include as attachments copies of all documents evidencing the violation that the Board will consider in reaching a decision.

4. Provide the Lender with the opportunity, within 15 business days from the date of the issuance of the Notice, to:

Meet informally with the Board in person or by video conference; and/or

Present written evidence and any other relevant information.

5. Offer the MAP Lender the opportunity to reply in writing to the Board within 15 business days from the date of the issuance of the Notice. Failure to reply within the 15-business day period may result in a determination by the Board without consideration of any comments that were submitted after the deadline.