Section 1324 of the Safety & Soundness Act (12 U.S.C. § 4544)

12 USC 4544
NB: This unofficial compilation of the U.S. Code is current as of Jan. 4, 2012 (see http://www.law.cornell.edu/uscode/uscprint.html).

TITLE 12 - BANKS AND BANKING
CHAPTER 46 - GOVERNMENT SPONSORED ENTERPRISES
SUBCHAPTER I - SUPERVISION AND REGULATION OF ENTERPRISES
Part B - Additional Authorities of the Director
subpart 1 - general authority
§ 4544. Annual housing report
(a) In general
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.
(b) Contents
The report required under subsection (a) shall—
(1) discuss—
(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.
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12 USC 4544
NB: This unofficial compilation of the U.S. Code is current as of Jan. 4, 2012 (see http://www.law.cornell.edu/uscode/uscprint.html).

(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.
(4) Definition
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.
(Pub. L. 102–550, title XIII, § 1324, as added Pub. L. 110–289, div. A, title I, § 1125(b), July 30, 2008,
122 Stat. 2693.)
Prior Provisions
A prior section 4544, Pub. L. 102–550, title XIII, § 1324, Oct. 28, 1992, 106 Stat. 3954, related to annual housing
report, prior to repeal by Pub. L. 110–289, div. A, title I, § 1125(a), July 30, 2008, 122 Stat. 2693.

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