12 U.S.C. § 4514a: Study and reports on…

Summary

The Director must keep studying the fees that enterprises charge to guarantee mortgages. The Director must set rules for how enterprises must give data, including the format and how to send it. Each year the Director must send Congress a report using the year’s combined data about how much fees are and how enterprises decide them. The yearly report must identify and analyze the factors that set fees, total fee revenue, total guarantee costs, the average fee, year-to-year changes, and breakdowns by product type, risk, originator asset size, and number of loans sold or transferred. Confidential or proprietary information must not be made public.

Title 12, §4514a

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(a)Ongoing study of fees

The Director shall conduct an ongoing study of fees charged by enterprises for guaranteeing a mortgage.

(b)Collection of data

The Director shall, by regulation or order, establish procedures for the collection of data from enterprises for purposes of this subsection, including the format and the process for collection of such data.

(c)Reports to Congress

The Director shall annually submit a report to Congress on the results of the study conducted under subsection (a), based on the aggregated data collected under subsection (a) for the subject year, regarding the amount of such fees and the criteria used by the enterprises to determine such fees.

(d)Contents of reports

The reports required under subsection (c) shall identify and analyze—

(1)the factors considered in determining the amount of the guarantee fees charged;

(2)the total revenue earned by the enterprises from guarantee fees;

(3)the total costs incurred by the enterprises for providing guarantees;

(4)the average guarantee fee charged by the enterprises;

(5)an analysis of any increase or decrease in guarantee fees from the preceding year;

(6)a breakdown of the revenue and costs associated with providing guarantees, based on product type and risk classifications; and

(7)a breakdown of guarantee fees charged based on asset size of the originator and the number of loans sold or transferred to an enterprise.

(e)Protection of information

Nothing in this section may be construed to require or authorize the Director to publicly disclose information that is confidential or proprietary.

Notes & Related Subsidiaries

Editorial Notes

Codification Section was enacted as part of the Federal Housing Finance Regulatory Reform Act of 2008, and also as part of the Housing and Economic Recovery Act of 2008, and not as part of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 which comprises this chapter.

Statutory Notes and Related Subsidiaries

Definitions For definitions of terms used in this section, see section 1002(b) of Pub. L. 110–289, set out as a note under section 4511 of this title.

§4514a Study and Reports on Guarantee Fees

Summary

Title 12, §4514a

Notes & Related Subsidiaries

Editorial Notes

Statutory Notes and Related Subsidiaries

Citations & Metadata