BIA will not reduce or deny payment solely on the basis of §§ 103.39(c) or (e) when the lender making the claim for loss:
Is a person to whom a previous lender transferred the loan under §§ 103.28 or 103.29 before maturity for value;
Notified BIA of its acquisition of the loan interest as required by §§ 103.28 or 103.29;
Had no involvement in or knowledge of the actions or circumstances that would have allowed BIA to reduce or deny payment to a previous lender; and
Has not itself violated the standards set forth in §§ 103.39(c) or (e).
If BIA makes payment to a lender under this section, it may seek reimbursement from the previous lender or lenders who contributed to the loss by violating §§ 103.39(c) or (e).
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