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12 U.S.C. § 4517 — Study and reports on guarantee fees

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 4517 — Study and reports on guarantee fees

**(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,11 So in original. Probably should be “section”. 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.

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Source file: Laws/federal/codes/united-states-code/title-12/section-4517-study-and-reports-on-guarantee-fees--323ea83fcb.md
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Source location: Title 12, Chapter 46, § 4517; chapter-046-government-sponsored-enterprises.md

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 4511 — Congressional findings

The Congress finds that— (1) the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation (referred to in this section collectively as the “enterprises”), and the Federal Home Loan Banks (referred to in this section as the “Banks”), have important public missions that are reflected in the statutes and charter Acts establishing the Banks and the enterprises; (2) because the continued ability of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation to accomplish their public missions is important to providing housing in the United States and the health of the Nation’s economy, more effective Federal regulation is needed to reduce the risk of failure of the enterprises; (3) considering the current operating procedures of the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and the Federal Home Loan Banks, the enterprises and the Banks currently pose low financial risk of insolvency; (4) neither the enterprises nor the Banks, nor any securities or obligations issued by the enterprises or the Banks, are backed by the full faith and credit of the United States; (5) an entity regulating the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation should have sufficient autonomy from the enterprises and special interest groups; (6) an entity regulating such enterprises should have the authority to establish capital standards, require financial disclosure, prescribe adequate standards for books and records and other internal controls, conduct examinations when necessary, and enforce compliance with the standards and rules that it establishes; (7) the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation have an affirma

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 4518a — Funding

**(a) Annual assessments** The Director shall establish and collect from the regulated entities annual assessments in an amount not exceeding the amount sufficient to provide for reasonable costs (including administrative costs) and expenses of the Agency, including— (1) the expenses of any examinations under [section 4517 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4517&num=0&edition=prelim) and under [section 1440 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1440&num=0&edition=prelim); (2) the expenses of obtaining any reviews and credit assessments under [section 4519 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4519&num=0&edition=prelim); (3) such amounts in excess of actual expenses for any given year as deemed necessary by the Director to maintain a working capital fund in accordance with subsection (e); and (4) the windup of the affairs of the Office of Federal Housing Enterprise Oversight and the Federal Housing Finance Board under title III of the Federal Housing Finance Regulatory Reform Act of 2008. **(b) Allocation of annual assessment to enterprises** (1) **Amount of payment** — Each enterprise shall pay to the Director a proportion of the annual assessment made pursuant to subsection (a) that bears the same ratio to the total annual assessment that the total assets of each enterprise bears 11 So in original. Probably should be “bear”. to the total assets of both enterprises. (2) **Separate treatment of Federal home loan bank and enterprise assessments** — Assessments collected from the enterprises shall not exceed the amounts sufficient to provide for the costs and expenses described in subsection (a) relating to

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 4517 — Examinations

Page 1655 TITLE 12—BANKS AND BANKING § 4517 ducted under this subsection. The report to the Congress shall set forth the scope of the audit and shall include the statement of assets and liabilities and surplus or deficit, the state- ment of income and expenses, the statement of sources and application of funds, and such comments and information as may be deemed necessary to inform Congress of the financial operations and condition of the Agency, to- gether with such recommendations with re- spect thereto as the Comptroller General may deem advisable. A copy of each report shall be furnished to the President and to the Agency at the time submitted to the Congress. (3) Assistance and costs For the purpose of conducting an audit under this subsection, the Comptroller Gen- eral may, in the discretion of the Comptroller General, employ by contract, without regard to section 6101 of title 41, professional services of firms and organizations of certified public accountants for temporary periods or for spe- cial purposes. Upon the request of the Comp- troller General, the Director of the Agency shall transfer to the Government Account- ability Office from funds available, the amount requested by the Comptroller General to cover the full costs of any audit and report conducted by the Comptroller General. The Comptroller General shall credit funds trans- ferred to the account established for salaries and expenses of the Government Account- ability Office, and such amount shall be avail- able upon receipt and without fiscal year limi- tation to cover the full costs of the audit and report. (Pub. L. 102–550, title XIII, § 1316, Oct. 28, 1992, 106 Stat. 3947; Pub. L. 104–134, title I, § 101(e) [title II, § 211], Apr. 26, 1996, 110 Stat. 1321–257, 1321

Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 4517

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