12 CFR § 1208.31 - Refunds.

---
identifier: "/us/cfr/t12/s1208.31"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 1208.31 - Refunds."
title_number: 12
title_name: "Banks and Banking"
section_number: "1208.31"
section_name: "Refunds."
chapter_name: "FEDERAL HOUSING FINANCE AGENCY"
subchapter_number: "A"
subchapter_name: "ORGANIZATION AND OPERATIONS"
part_number: "1208"
part_name: "DEBT COLLECTION"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "5 U.S.C. 5514; 12 U.S.C. 4526; 26 U.S.C. 6402(d); 31 U.S.C. 3701-3720D; 31 CFR 285.2; 31 CFR Chapter IX."
cfr_part: "1208"
---


# 1208.31 Refunds.

(a) Where FHFA is the creditor agency, FHFA shall promptly refund any amount deducted under the authority of 5 U.S.C. 5514 when:

(1) FHFA receives notice that the debt has been waived or otherwise found not to be owing to the Federal Government; or

(2) An administrative or judicial order directs FHFA to make a refund.

(b) Unless required by law or contract, refunds under this section shall not bear interest.