12 U.S.C. § 4546 — Prohibition of public disclosure of propri-

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 introductory provisions. § 4546. Prohibition of public disclosure of propri- etary information (a) In general Subject to subsection (d), the Director may, by regulation or order, provide that certain in- formation shall be treated as proprietary infor- mation and not subject to disclosure under sec- tion 4543 of this title, section 1723a(n)(3) of this title, or section 1456(f)(3) of this title. (b) Protection of information on housing activi- ties The Director shall not provide public access to, or disclose to the public, any information re- quired to be submitted by an enterprise under section 1723a(n) of this title or section 1456(f) of this title that the Director determines is propri- etary. (c) Nondisclosure pending consideration This section may not be construed to author- ize the disclosure of information to, or examina- tion of data by, the public or a representative of any person or agency pending the issuance of a final decision under this section. (d) Mortgage information Subject to privacy considerations, as described in section 304(j) of the Home Mortgage Disclo- sure Act of 1975 (12 U.S.C. 2803(j)), the Director shall, by regulation or order, provide that cer- tain information relating to single family mort- gage data of the enterprises shall be disclosed to the public, in order to make available to the public— (1) the same data from the enterprises that is required of insured depository institutions under the Home Mortgage Disclosure Act of 1975 [12 U.S.C. 2801 et seq.]; and (2) information collected by the Director under section 4544(b)(6) of this title. (Pub. L. 102–550, title XIII, § 1326, Oct. 28, 1992, 106 Stat. 3955; Pub. L. 110–289, div. A, title I, §§ 1122(a)(1), 1127, July 30, 2008, 122 Stat. 2689, 2695.) Editorial Notes REFERENCES IN TEXT The Home Mortgage Disclosure Act of 1975, referred to in subsec. (d)(1), is title III of Pub. L. 94–200, Dec. 31, 1975, 89 Stat. 1125, which is classified principally to chapter 29 (§ 2801 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 2801 of this title and Tables. AMENDMENTS 2008—Pub. L. 110–289, § 1122(a)(1), substituted ‘‘Direc- tor’’ for ‘‘Secretary’’ wherever appearing in subsecs. (a) and (b). Subsec. (a). Pub. L. 110–289, § 1127(1), substituted ‘‘Subject to subsection (d), the Director’’ for ‘‘The Di- rector’’. Subsec. (d). Pub. L. 110–289, § 1127(2), added subsec. (d). § 4547. Enterprise guarantee fees (a) Definitions For purposes of this section, the following definitions shall apply: (1) Guarantee fee The term ‘‘guarantee fee’’— (A) means a fee described in subsection (b); and (B) includes— (i) the guaranty fee charged by the Fed- eral National Mortgage Association with respect to mortgage-backed securities; and (ii) the management and guarantee fee charged by the Federal Home Loan Mort- gage Corporation with respect to partici- pation certificates. (2) Average fees The term ‘‘average fees’’ means the average contractual fee rate of single-family guaranty arrangements by an enterprise entered into during 2011, plus the recognition of any up- front cash payments over an estimated aver- age life, expressed in terms of basis points. Such definition shall be interpreted in a man- ner consistent with the annual report on guar- antee fees by the Federal Housing Finance Agency. (b) Increase (1) In general (A) Phased increase required Subject to subsection (c), the Director shall require each enterprise to charge a guarantee fee in connection with any guar-