12 U.S.C. § 4545: Fair housing

Summary

The Secretary of Housing and Urban Development must make rules so the enterprises do not discriminate when buying mortgages. The rules must ban discrimination based on race, color, religion, sex, disability, family status, age, or national origin, and must cover using the age or location of a house or the age of a neighborhood or census tract in ways that cause discriminatory effects. The Secretary must also require enterprises to give data to help HUD check if their mortgage lenders broke the Fair Housing Act or the Equal Credit Opportunity Act and must share relevant information with the proper federal agencies. HUD must get and share enforcement information from other governments, tell enterprises to punish lenders found to have discriminated (after a final decision and a chance for a hearing), and regularly check enterprise underwriting and appraisal rules to make sure they follow the Fair Housing Act and these requirements.

Title 12, §4545

Banks and Banking, Source: USLM XML via OLRC

The Secretary of Housing and Urban Development shall—

(1)by regulation, prohibit each enterprise from discriminating in any manner in the purchase of any mortgage because of race, color, religion, sex, handicap, familial status, age, or national origin, including any consideration of the age or location of the dwelling or the age of the neighborhood or census tract where the dwelling is located in a manner that has a discriminatory effect;

(2)by regulation, require each enterprise to submit data to the Secretary to assist the Secretary in investigating whether a mortgage lender with which the enterprise does business has failed to comply with the Fair Housing Act [42 U.S.C. 3601 et seq.];

(3)by regulation, require each enterprise to submit data to the Secretary to assist in investigating whether a mortgage lender with which the enterprise does business has failed to comply with the Equal Credit Opportunity Act [15 U.S.C. 1691 et seq.], and shall submit any such information received to the appropriate Federal agencies, as provided in section 704 of the Equal Credit Opportunity Act [15 U.S.C. 1691c], for appropriate action;

(4)obtain information from other regulatory and enforcement agencies of the Federal Government and State and local governments regarding violations by lenders of the Fair Housing Act and the Equal Credit Opportunity Act and make such information available to the enterprises;

(5)direct the enterprises to undertake various remedial actions, including suspension, probation, reprimand, or settlement, against lenders that have been found to have engaged in discriminatory lending practices in violation of the Fair Housing Act or the Equal Credit Opportunity Act, pursuant to a final adjudication on the record, and after opportunity for an administrative hearing, in accordance with subchapter II of chapter 5 of title 5; and

(6)periodically review and comment on the underwriting and appraisal guidelines of each enterprise to ensure that such guidelines are consistent with the Fair Housing Act and this section.

Notes & Related Subsidiaries

Editorial Notes

References in Text

The Fair Housing Act, referred to in pars. (2) and (4) to (6), is title VIII of Pub. L. 90–284, Apr. 11, 1968, 82 Stat. 81, which is classified principally to subchapter I (§ 3601 et seq.) of chapter 45 of Title 42, The Public Health and Welfare. For complete classification of this Act to the Code, see

Short Title

note set out under section 3601 of Title 42 and Tables. The Equal Credit Opportunity Act, referred to in pars. (3) to (5), is title VII of Pub. L. 90–321, as added by Pub. L. 93–495, title V, § 503, Oct. 28, 1974, 88 Stat. 1521, which is classified generally to subchapter IV (§ 1691 et seq.) of chapter 41 of Title 15, Commerce and Trade. For complete classification of this Act to the Code, see

Short Title

note set out under section 1601 of Title 15 and Tables.

Amendments

2008—Pub. L. 110–289 inserted “of Housing and Urban Development” after “The Secretary” in introductory provisions.

§4545 Fair Housing

Summary

Title 12, §4545

Notes & Related Subsidiaries

Editorial Notes

References in Text

Short Title

Short Title

Amendments

Citations & Metadata