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Title 12, Banks and BankingRelease 119-110

§1701p–2 Default and Foreclosure Database

Title 12 › CHAPTER 13 — NATIONAL HOUSING › § 1701p–2

Last updated Sep 22, 2026|Official source

Summary

The Secretary of Housing and Urban Development and the Director of the Bureau must create and keep a public database that shows defaults and foreclosures on mortgages for 1- to 4-unit homes. They must work with the federal agencies that regulate banks and mortgage lenders. The database can show data by census tract, but it will follow privacy rules. The database must report counts and percentages for loans delinquent more than 30 days and more than 90 days, properties owned by lenders (real estate–owned), loans in foreclosure, and loans where the amount owed is more than the house is worth. It may include other related data the agencies think fit. The database must not be used to promote unfair or risky lending. The agencies must protect personal information, meet federal data security and integrity standards, and follow the privacy rules in section 5512(c)(5) and (6).

Full Legal Text

Title 12, §1701p–2

Banks and Banking, Source: USLM XML via OLRC

(a)Establishment
The Secretary of Housing and Urban Development and the Director of the Bureau, in consultation with the Federal agencies responsible for regulation of banking and financial institutions involved in residential mortgage lending and servicing, shall establish and maintain a database of information on foreclosures and defaults on mortgage loans for one- to four-unit residential properties and shall make such information publicly available, subject to subsection (e).
(b)Census tract data
Information in the database may be collected, aggregated, and made available on a census tract basis.
(c)Requirements
Information collected and made available through the database shall include—
(1)the number and percentage of such mortgage loans that are delinquent by more than 30 days;
(2)the number and percentage of such mortgage loans that are delinquent by more than 90 days;
(3)the number and percentage of such properties that are real estate-owned;
(4)number and percentage of such mortgage loans that are in the foreclosure process;
(5)the number and percentage of such mortgage loans that have an outstanding principal obligation amount that is greater than the value of the property for which the loan was made; and
(6)such other information as the Secretary of Housing and Urban Development and the Director of the Bureau consider appropriate.
(d)Rule of construction
Nothing in this section shall be construed to encourage discriminatory or unsound allocation of credit or lending policies or practices.
(e)Privacy and confidentiality
In establishing and maintaining the database described in subsection (a), the Secretary of Housing and Urban Development and the Director of the Bureau shall—
(1)be subject to the standards applicable to Federal agencies for the protection of the confidentiality of personally identifiable information and for data security and integrity;
(2)implement the necessary measures to conform to the standards for data integrity and security described in paragraph (1); and
(3)collect and make available information under this section, in accordance with paragraphs (5) and (6) of section 5512(c) of this title and the rules prescribed under such paragraphs, in order to protect privacy and confidentiality.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Codification Section was enacted as part of the Expand and Preserve Home Ownership Through Counseling Act and also as part of the Mortgage Reform and Anti-Predatory Lending Act and as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and not as part of the National Housing Act which comprises this chapter.

Statutory Notes and Related Subsidiaries

Effective Date

Section effective on the date on which final

Regulations

implementing such section 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) of Pub. L. 111–203, set out as an

Effective Date

of 2010 Amendment note under section 1601 of Title 15, Commerce and Trade. Definition of “Bureau” “Bureau” as meaning the Bureau of Consumer Financial Protection established under title X of Pub. L. 111–203, see section 5301 of this title.

Reference

Citations & Metadata

Citation

12 U.S.C. § 1701p–2

Title 12, Banks and Banking

Last Updated

Sep 22, 2026

Release point: 119-110