§4514a Study and reports on guarantee fees

Summary

The Director must run an ongoing study of the fees enterprises charge to guarantee mortgages. The Director must set rules or orders for how those companies must give data, including the format and process. Every year the Director must send Congress a report using the aggregated data for that year about how much fees are and how companies decide them. The report must identify and analyze seven things: the factors used to set fees; total fee revenue; total costs of providing guarantees; the average fee; any change from the prior year; a revenue and cost breakdown by product type and risk class; and a fee breakdown by originator asset size and by number of loans sold or transferred. The Director must not publicly disclose confidential or proprietary information.