24 CFR § 1005.221 - Business change reporting.

---
identifier: "/us/cfr/t24/s1005.221"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "24 CFR § 1005.221 - Business change reporting."
title_number: 24
title_name: "Housing and Urban Development"
section_number: "1005.221"
section_name: "Business change reporting."
chapter_name: "OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT"
part_number: "1005"
part_name: "LOAN GUARANTEES FOR INDIAN HOUSING"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1715z-13a; 15 U.S.C. 1639c; 42 U.S.C. 3535(d)."
regulatory_source: "89 FR 20056, Mar. 20, 2024; 89 FR 22084, Mar. 29, 2024, unless otherwise noted."
cfr_part: "1005"
---


# 1005.221 Business change reporting.

(a) Within a timeframe as prescribed by Section 184 Program Guidance, Direct Guarantee Lenders shall provide written notification to HUD, in such a form as prescribed by Section 184 Program Guidance of:

(1) All changes in the Direct Guarantee Lender or Sponsored Entity's legal structure, including, but not limited to, mergers, acquisitions, terminations, name, location, control of ownership, and character of business;

(2) Staffing changes with senior leadership and Loan underwriters for Direct Guarantee Lenders and Sponsored Entities; and

(3) Any sanctions by another supervising entity.

(b) Failure to report changes within a reasonable timeframe prescribed in Section 184 Program Guidance may result in sanctions in accordance with §§ 1005.905 and 1005.907.