§4544 Annual housing report

Summary

The Director must send a yearly report by October 30 to the Senate Banking, Housing, and Urban Affairs Committee and the House Financial Services Committee about what each enterprise is doing. The report must explain how each enterprise is meeting its annual housing goals, how it is serving underserved markets, whether it follows other legal duties, whether it got credit for certain transactions, and whether it is meeting its legal purposes. The report must also say what each enterprise could do to better meet its purposes. It must include analyzed data on income for checking goal compliance, income plus race and gender by census tract compared with bigger trends, how much each enterprise deals with subprime and nontraditional loans, comparisons of those loans to other loans, and comparisons of high-cost loans that are securitized but not kept versus those kept or repurchased. Those comparisons must look at facts like the property purchase price, loan-to-value (including secondary liens), loan terms, borrower creditworthiness, and any other relevant data the Director decides. To help with the report, the Director must run a monthly mortgage market survey. The survey must collect details about mortgages that the enterprises can buy and those they cannot, including house price, loan-to-value (showing secondary liens), terms, borrower credit, and whether a conforming loan was bought by an enterprise. It must also collect details on subprime and nontraditional loans and whether borrowers would qualify for prime lending. The Director must make the survey data public in a timely way but must remove anything that could identify a borrower or that is already available from other public sources. “Identifiable form” means any information that would let someone reasonably figure out who the borrower is.