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12 U.S.C. § 4547 — Annual housing report

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

12 U.S.C. § 4547 — Annual housing report

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Stable record: federal_law:legal_authorities:record_usc_e9ca283dd860b06b8052e283
Source file: Laws/federal/codes/united-states-code/title-12/section-4547-annual-housing-report--8d4bacbd47.md
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Source location: Title 12, Chapter 46, § 4547; chapter-046-government-sponsored-enterprises.md

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**(a) In general** After reviewing and analyzing the reports submitted under [section 1723a(n) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1723a/n&num=0&edition=prelim) and [section 1456(f) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1456/f&num=0&edition=prelim), the Director shall submit a report, not later than October 30 of each year, to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives, on the activities of each enterprise. **(b) Contents** The report required under subsection (a) shall— (1) discuss— (A) the extent to and manner in which— (i) each enterprise is achieving the annual housing goals established under subpart 2; (ii) each enterprise is complying with its duty to serve underserved markets, as established under [section 4565 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4565&num=0&edition=prelim); (iii) each enterprise is complying with [section 4567 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4567&num=0&edition=prelim); (iv) each enterprise received credit towards achieving each of its goals resulting from a transaction or activity pursuant to [section 4561(b)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4561/b/2&num=0&edition=prelim); and (v) each enterprise is achieving the purposes of the enterprise established by law; and (B) the actions that each enterprise could undertake to promote and expand the purposes of the enterprise; (2) aggregate and analyze relevant data on income to assess the compliance of each enterprise with the housing goals established under subpart 2; (3) aggregate and analyze data on income, race, and gender by census tract and other relevant classifications, and compare such data with larger demographic, housing, and economic trends; (4) identify the extent to which each enterprise is involved in mortgage purchases and secondary market activities involving subprime and nontraditional loans; (5) compare the characteristics of subprime and nontraditional loans both purchased and securitized by each enterprise to other loans purchased and securitized by each enterprise; and (6) compare the characteristics of high-cost loans purchased and securitized, where such securities are not held on portfolio to loans purchased and securitized, where such securities are either retained on portfolio or repurchased by the enterprise, including such characteristics as— (A) the purchase price of the property that secures the mortgage; (B) the loan-to-value ratio of the mortgage, which shall reflect any secondary liens on the relevant property; (C) the terms of the mortgage; (D) the creditworthiness of the borrower; and (E) any other relevant data, as determined by the Director. **(c) Data collection and reporting** (1) **In general** — To assist the Director in analyzing the matters described in subsection (b), the Director shall conduct, on a monthly basis, a survey of mortgage markets in accordance with this subsection. (2) **Data points** — Each monthly survey conducted by the Director under paragraph (1) shall collect data on— (A) the characteristics of individual mortgages that are eligible for purchase by the enterprises and the characteristics of individual mortgages that are not eligible for purchase by the enterprises including, in both cases, information concerning— (i) the price of the house that secures the mortgage; (ii) the loan-to-value ratio of the mortgage, which shall reflect any secondary liens on the relevant property; (iii) the terms of the mortgage; (iv) the creditworthiness of the borrower or borrowers; and (v) whether the mortgage, in the case of a conforming mortgage, was purchased by an enterprise; (B) the characteristics of individual subprime and nontraditional mortgages that are eligible for purchase by the enterprises and the characteristics of borrowers under such mortgages, including the creditworthiness of such borrowers and determination whether such borrowers would qualify for prime lending; and (C) such other matters as the Director determines to be appropriate. (3) **Public availability** — The Director shall make any data collected by the Director in connection with the conduct of a monthly survey available to the public in a timely manner, provided that the Director may modify the data released to the public to ensure that the data— (A) is not released in an identifiable form; and (B) is not otherwise obtainable from other publicly available data sets. (4) **Definition** — For purposes of this subsection, the term “identifiable form” means any representation of information that permits the identity of a borrower to which the information relates to be reasonably inferred by either direct or indirect means.

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

12 U.S.C. § 4567 — Discretionary adjustment of housing goals

**(a) Authority** An enterprise may petition the Director in writing at any time during a year to reduce the level of any goal or subgoal for such year established pursuant to this subpart. **(b) Standard for reduction** The Director may reduce the level for a goal or subgoal pursuant to such a petition only if— (1) market and economic conditions or the financial condition of the enterprise require such action; or (2) efforts to meet the goal or subgoal would result in the constraint of liquidity, over-investment in certain market segments, or other consequences contrary to the intent of this subpart, or [section 1716(3) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1716/3&num=0&edition=prelim) or section 301(b)(3) of the Federal Home Loan Mortgage Corporation Act ([12 U.S.C. 1451](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1451&num=0&edition=prelim) note), as applicable. **(c) Determination** The Director shall, promptly upon receipt of a petition regarding a reduction, seek public comment on the reduction for a period of 30 days. The Director shall make a determination regarding any proposed reduction within 30 days after the expiration of such public comment period. The Director may extend such determination period for a single additional 15-day period, but only if the Director requests additional information from the enterprise.

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4567

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

12 U.S.C. § 4565 — Single-family housing goals

**(a) In general** The Director shall, by regulation, establish annual goals for the purchase by each enterprise of the following types of mortgages for the following categories of families: (1) **Purchase-money mortgages** — A goal for purchase of conventional, conforming, single-family, purchase money mortgages financing owner-occupied housing for each of the following categories of families: (A) Low-income families. (B) Families that reside in low-income areas. (C) Very low-income families. (2) **Refinancing mortgages** — A goal for purchase of conventional, conforming mortgages on owner-occupied, single-family housing for low-income families that are given to pay off or prepay an existing loan secured by the same property. **(b) Goals as a percentage of total mortgage purchases** The goals established under paragraphs (1) and (2) of subsection (a) shall be established as a percentage of the total number of conventional, conforming, single-family, owner-occupied, purchase money mortgages purchased by the enterprise, or as percentage of the total number of conventional, single-family, owner-occupied refinance mortgages purchased by the enterprise, as applicable, that are mortgages for the types of families specified in paragraphs (1) and (2) of subsection (a). **(c) Single-family, owner-occupied rental housing units** The Director shall require each enterprise to report the number of rental housing units affordable to low-income families each year which are contained in mortgages purchased by the enterprise financing 2- to 4-unit single-family, owner-occupied properties and may, by regulation, establish additional requirements relating to such units. **(d) Determination of compliance** (1) **In general** — The Director shall determine, for each year tha

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4565

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

12 U.S.C. § 4584 — Cease and desist proceedings

**(a) Grounds for issuance** The Director may issue and serve a notice of charges under this section upon an enterprise if the Director determines that— (1) the enterprise has failed to submit a report under section 4547 11 See References in Text note below. of this title, following a notice of such failure, an opportunity for comment by the enterprise, and a final determination by the Director; (2) the enterprise has failed to submit the information required under subsection (m) or (n) of [section 1723a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1723a&num=0&edition=prelim), or subsection (e) or (f) of [section 1456 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1456&num=0&edition=prelim); (3) solely with respect to the housing goals established under sections 4562(a) and 4563(a)(1) of this title, the enterprise has failed to submit a housing plan that complies with [section 4566(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4566/c&num=0&edition=prelim) within the applicable period; or (4) solely with respect to the housing goals established under sections 4562(a) and 4563(a)(1) of this title, the enterprise has failed to comply with a housing plan under [section 4566(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4566/c&num=0&edition=prelim). **(b) Procedure** (1) **Notice of charges** — Each notice of charges issued under this section shall contain a statement of the facts constituting the alleged conduct and shall fix a time and place at which a hearing will be held to determine on the record whether an order to cease and desist from such conduct should issue. (2) **Issuance o

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4584

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

12 U.S.C. § 4588 — Civil money penalties

**(a) Authority** The Director may impose a civil money penalty, in accordance with the provisions of this section, on any enterprise that has failed to— (1) submit a report under section 4547 11 See References in Text note below. of this title, following a notice of such failure, an opportunity for comment by the enterprise, and a final determination by the Director; (2) submit the information required under subsection (m) or (n) of [section 1723a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1723a&num=0&edition=prelim) or subsection (e) or (f) of [section 1456 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1456&num=0&edition=prelim); (3) solely with respect to the housing goals established under sections 4562(a) and 4563(a)(1) of this title, submit a housing plan or perform its responsibilities under a remedial order issued pursuant to [section 4566(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4566/c&num=0&edition=prelim) within the required period; or (4) solely with respect to the housing goals established under sections 4562(a) and 4563(a)(1) of this title, comply with a housing plan for the enterprise under [section 4566(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4566/c&num=0&edition=prelim). **(b) Amount of penalty** The amount of a penalty under this section, as determined by the Director, may not exceed— (1) for any failure described in paragraph (1), (5), or (6) of subsection (a), $100,000 for each day that the failure occurs; and (2) for any failure described in paragraph (2), (3), or (4) of subsection (a), $50,000 for each day that the failure occurs. **(c) Procedu

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4588

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

26 U.S.C. § 1 — Tax imposed

**(a) Married individuals filing joint returns and surviving spouses** There is hereby imposed on the taxable income of— (1) every married individual (as defined in section 7703) who makes a single return jointly with his spouse under section 6013, and (2) every surviving spouse (as defined in section 2(a)), a tax determined in accordance with the following table: If taxable income is:The tax is: Not over $36,90015% of taxable income. Over $36,900 but not over $89,150$5,535, plus 28% of the excess over $36,900. Over $89,150 but not over $140,000$20,165, plus 31% of the excess over $89,150. Over $140,000 but not over $250,000$35,928.50, plus 36% of the excess over $140,000. Over $250,000$75,528.50, plus 39.6% of the excess over $250,000. **(b) Heads of households** There is hereby imposed on the taxable income of every head of a household (as defined in section 2(b)) a tax determined in accordance with the following table: If taxable income is:The tax is: Not over $29,60015% of taxable income. Over $29,600 but not over $76,400$4,440, plus 28% of the excess over $29,600. Over $76,400 but not over $127,500$17,544, plus 31% of the excess over $76,400. Over $127,500 but not over $250,000$33,385, plus 36% of the excess over $127,500. Over $250,000$77,485, plus 39.6% of the excess over $250,000. **(c) Unmarried individuals (other than surviving spouses and heads of households)** There is hereby imposed on the taxable income of every individual (other than a surviving spouse as defined in section 2(a) or the head of a household as defined in section 2(b)) who is not a married individual (as defined in section 7703) a tax determined in accordance with the following table: If taxable income is:The tax is: Not over $22,10015% of taxable income. Over $22,100 but not over $53,50

Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 1

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

12 U.S.C. § 4547 — Enterprise guarantee fees

Page 1666 TITLE 12—BANKS AND BANKING § 4546 (5) direct the enterprises to undertake var- ious remedial actions, including suspension, probation, reprimand, or settlement, against lenders that have been found to have engaged in discriminatory lending practices in viola- tion of the Fair Housing Act or the Equal Credit Opportunity Act, pursuant to a final adjudication on the record, and after oppor- tunity for an administrative hearing, in ac- cordance 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. (Pub. L. 102–550, title XIII, § 1325, Oct. 28, 1992, 106 Stat. 3955; Pub. L. 110–289, div. A, title I, § 1122(b), July 30, 2008, 122 Stat. 2689.) 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 sec- tion 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 introd

Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 4547

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