CFR > Title 12 - Banks and Banking > CHAPTER XII—FEDERAL HOUSING FINANCE AGENCY > SUBCHAPTER A—ORGANIZATION AND OPERATIONS (parts 1202 to 1212) > PART 1208—DEBT COLLECTION > SUBPART E—Administrative Wage Garnishment (§1208.60 to §1208.81) > 1208.61—Notice.

1208.61—Notice.

At least 30 days before the initiation of garnishment proceedings, FHFA will send, by first class mail to the debtor's last known address, a written notice informing the debtor of:
(a) The nature and amount of the debt;
(b) FHFA's intention to initiate proceedings to collect the debt through deductions from the debtor's pay until the debt and all accumulated interest penalties and administrative costs are paid in full;
(c) An explanation of the debtor's rights as set forth in § 1208.62(c); and
(d) The time frame within which the debtor may exercise these rights. FHFA shall retain a stamped copy of the notice indicating the date the notice was mailed.