After reviewing and analyzing the reports submitted under section
1723a(n) of this title and section
1456(f) of this title, the Director shall submit a report, not later than October 30 of each year, to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives, on the activities of each enterprise.
The report required under subsection (a) shall—
(A)the extent to and manner in which—
(i)each enterprise is achieving the annual housing goals established under subpart 2;
(ii)each enterprise is complying with its duty to serve underserved markets, as established under section
4565 of this title;
(iii)each enterprise is complying with section
4567 of this title;
(iv)each enterprise received credit towards achieving each of its goals resulting from a transaction or activity pursuant to section
4561(b)(2) of this title; and
(v)each enterprise is achieving the purposes of the enterprise established by law; and
(B)the actions that each enterprise could undertake to promote and expand the purposes of the enterprise;
(2)aggregate and analyze relevant data on income to assess the compliance of each enterprise with the housing goals established under subpart 2;
(3)aggregate and analyze data on income, race, and gender by census tract and other relevant classifications, and compare such data with larger demographic, housing, and economic trends;
(4)identify the extent to which each enterprise is involved in mortgage purchases and secondary market activities involving subprime and nontraditional loans;
(5)compare the characteristics of subprime and nontraditional loans both purchased and securitized by each enterprise to other loans purchased and securitized by each enterprise; and
(6)compare the characteristics of high-cost loans purchased and securitized, where such securities are not held on portfolio to loans purchased and securitized, where such securities are either retained on portfolio or repurchased by the enterprise, including such characteristics as—
(A)the purchase price of the property that secures the mortgage;
(B)the loan-to-value ratio of the mortgage, which shall reflect any secondary liens on the relevant property;
(C)the terms of the mortgage;
(D)the creditworthiness of the borrower; and
(E)any other relevant data, as determined by the Director.
(c) Data collection and reporting
(1) In general
To assist the Director in analyzing the matters described in subsection (b), the Director shall conduct, on a monthly basis, a survey of mortgage markets in accordance with this subsection.
(2) Data points
Each monthly survey conducted by the Director under paragraph (1) shall collect data on—
(A)the characteristics of individual mortgages that are eligible for purchase by the enterprises and the characteristics of individual mortgages that are not eligible for purchase by the enterprises including, in both cases, information concerning—
(i)the price of the house that secures the mortgage;
(ii)the loan-to-value ratio of the mortgage, which shall reflect any secondary liens on the relevant property;
(iii)the terms of the mortgage;
(iv)the creditworthiness of the borrower or borrowers; and
(v)whether the mortgage, in the case of a conforming mortgage, was purchased by an enterprise;
(B)the characteristics of individual subprime and nontraditional mortgages that are eligible for purchase by the enterprises and the characteristics of borrowers under such mortgages, including the creditworthiness of such borrowers and determination whether such borrowers would qualify for prime lending; and
(C)such other matters as the Director determines to be appropriate.
(3) Public availability
The Director shall make any data collected by the Director in connection with the conduct of a monthly survey available to the public in a timely manner, provided that the Director may modify the data released to the public to ensure that the data—
(A)is not released in an identifiable form; and
(B)is not otherwise obtainable from other publicly available data sets.
For purposes of this subsection, the term “identifiable form” means any representation of information that permits the identity of a borrower to which the information relates to be reasonably inferred by either direct or indirect means.
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 Tuesday, August 13, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.