12 USC § 1715z–25 - Mortgage modification data collecting and reporting
(a)
Reporting requirements
Not later than 120 days after May 20, 2009, and quarterly thereafter, the Comptroller of the Currency and the Director of the Office of Thrift Supervision,
[1]
shall jointly submit a report to the Committee on Banking, Housing, and Urban Affairs of the Senate,
[2]
the Committee on Financial Services of the House of Representatives on the volume of mortgage modifications reported to the Office of the Comptroller of the Currency and the Office of Thrift Supervision, under the mortgage metrics program of each such Office, during the previous quarter, including the following:
(1)
A copy of the data collection instrument currently used by the Office of the Comptroller of the Currency and the Office of Thrift Supervision to collect data on loan modifications.
(3)
The total number of mortgage modifications in each State for which the total monthly principal and interest payment resulted in the following:
(b)
Data collection
(1)
Required
(A)
In general
Not later than 60 days after May 20, 2009, the Comptroller of the Currency and the Director of the Office of Thrift Supervision,
[1]
shall issue mortgage modification data collection and reporting requirements to institutions covered under the reporting requirement of the mortgage metrics program of the Comptroller or the Director. Not later than 60 days after the date of the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Comptroller of the Currency and the Director of the Office of Thrift Supervision shall update such requirements to reflect amendments made to this section by such Act.
[1] So in original. The comma probably should not appear.
[2] So in original. The word “and” probably should appear instead of the comma.
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(a)
Reporting requirements
Not later than 120 days after May 20, 2009, and quarterly thereafter, the Comptroller of the Currency and the Director of the Office of Thrift Supervision,
[1]
shall jointly submit a report to the Committee on Banking, Housing, and Urban Affairs of the Senate,
[2]
the Committee on Financial Services of the House of Representatives on the volume of mortgage modifications reported to the Office of the Comptroller of the Currency and the Office of Thrift Supervision, under the mortgage metrics program of each such Office, during the previous quarter, including the following:
(1)
A copy of the data collection instrument currently used by the Office of the Comptroller of the Currency and the Office of Thrift Supervision to collect data on loan modifications.
(3)
The total number of mortgage modifications in which the total monthly principal and interest payment resulted in the following:
(b)
Data collection
(1)
Required
(A)
In general
Not later than 60 days after May 20, 2009, the Comptroller of the Currency and the Director of the Office of Thrift Supervision,
[1]
shall issue mortgage modification data collection and reporting requirements to institutions covered under the reporting requirement of the mortgage metrics program of the Comptroller or the Director.
[1] So in original. The comma probably should not appear.
[2] So in original. The word “and” probably should appear instead of the comma.
Source
(Pub. L. 111–22, div. A, title I, § 104,May 20, 2009, 123 Stat. 1636; Pub. L. 111–203, title XIV, § 1493,July 21, 2010, 124 Stat. 2206.)
Amendment of Section
Pub. L. 111–203, title XIV, §§ 1400(c), 1493,July 21, 2010, 124 Stat. 2136, 2206, provided that this section is amended, effective on the date on which final regulations implementing such amendments take effect, or on the date that is 18 months after the designated transfer date if such regulations have not been issued by that date: (1) in subsection (a)— (A) in paragraph (2), by substituting “in each State that result” for “resulting”; (B) in paragraph (3), by inserting “each State for” after “modifications in”; and (C) in paragraph (4), by inserting “in each State” after “total number of loans”; and (2) in subsection (b)(1)(A), by inserting at the end the following: “Not later than 60 days after the date of the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Comptroller of the Currency and the Director of the Office of Thrift Supervision shall update such requirements to reflect amendments made to this section by such Act.” See Effective Date of 2010 Amendment note below.
Codification
Section was enacted as part of the Helping Families Save Their Homes Act of 2009, and not as part of the National Housing Act which comprises this chapter.
Effective Date of 2010 Amendment
Amendment by Pub. L. 111–203effective on the date on which final regulations implementing that amendment take effect, or on the date that is 18 months after the designated transfer date if such regulations have not been issued by that date, see section 1400(c) ofPub. L. 111–203, set out as a note under section
1601 of Title
15, Commerce and Trade.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Monday, June 17, 2013
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