12 U.S.C. § 1701p — Contents of report to President and Con-

Page 445 TITLE 12—BANKS AND BANKING § 1701p the Housing and Home Finance Agency pursuant to Reorganization Plan Numbered 23 of 1950 (64 Stat. 1279), to the extent of the net loss, as de- termined by the Secretary of the Treasury, sus- tained by said Agency in the liquidation of de- faulted loans. The net loss shall be the sum of the unpaid principal and advances for care and preservation of collateral, together with accrued and unpaid interest on said principal and ad- vances, and all expenses and costs (other than those subject to administrative expense limita- tions) in connection with the liquidation of de- faulted loans, less the amount actually realized by the Housing and Home Finance Agency on ac- count of such defaulted loans. (July 14, 1952, ch. 723, § 9, 66 Stat. 603.) Editorial Notes REFERENCES IN TEXT Reorganization Plan Numbered 23 of 1950, referred to in text, is set out in the Appendix to Title 5, Govern- ment Organization and Employees. CODIFICATION Section was enacted as part of the Housing Act of 1952, and not as part of the National Housing Act which comprises this chapter. Statutory Notes and Related Subsidiaries TRANSFER OF FUNCTIONS Functions, powers, and duties of Housing and Home Finance Agency and its Administrator transferred to and vested in Secretary of Housing and Urban Develop- ment by Pub. L. 89–174, § 5, Sept. 9, 1965, 79 Stat. 669, classified to section 3534 of Title 42, The Public Health and Welfare. TERMINATION AND LIQUIDATION OF RECONSTRUCTION FINANCE CORPORATION Termination on June 30, 1954, of Reconstruction Fi- nance Corporation and liquidation thereof, see sections 608 and 609 of Title 15, Commerce and Trade, and notes thereunder. Executive Documents ABOLITION OF RECONSTRUCTION FINANCE CORPORATION Section 6(a) of Reorg. Plan No. 1 of 1957, eff. June 30, 1957, 22 F.R. 4633, 71 Stat. 647, set out in the Appendix to Title 5, Government Organization and Employees, abolished Reconstruction Finance Corporation. § 1701n. Reduction of vulnerability of congested urban areas to enemy attack The Department of Housing and Urban Devel- opment, and any other departments or agencies of the Federal Government having powers, func- tions, or duties with respect to housing under any law shall exercise such powers, functions, or duties in such manner as, consistent with the re- quirements thereof, will facilitate progress in the reduction of the vulnerability of congested urban areas to enemy attack. (Aug. 2, 1954, ch. 649, title VIII, § 811, 68 Stat. 646; Pub. L. 90–19, § 10(g), May 25, 1967, 81 Stat. 23.) Editorial Notes CODIFICATION Section was enacted as part of the Housing Act of 1954, and not as part of the National Housing Act which comprises this chapter. AMENDMENTS 1967—Pub. L. 90–19 substituted ‘‘Department of Hous- ing and Urban Development’’ for ‘‘Housing and Home Finance Agency, including its constituent agencies’’. § 1701o. Annual report of Secretary The Secretary of Housing and Urban Develop- ment shall, as soon as practicable during each calendar year, make a report to the President for submission to the Congress on all operations and programs (including but not limited to the insurance, urban renewal, public housing, and rent supplement programs) under the jurisdic- tion of the Department of Housing and Urban Development during the previous calendar year. Such report shall contain recommendations for strengthening or improving such programs, or, when necessary to implement more effectively Congressional policies and purposes, for estab- lishing new or alternative programs. (Aug. 2, 1954, ch. 649, title VIII, § 802(a), 68 Stat. 642; Pub. L. 89–117, title XI, § 1101, Aug. 10, 1965, 79 Stat. 502; Pub. L. 90–19, § 10(f), May 25, 1967, 81 Stat. 23; Pub. L. 100–242, title V, § 570(b), Feb. 5, 1988, 101 Stat. 1950.) Editorial Notes CODIFICATION Section was enacted as part of the Housing Act of 1954, and not as part of the National Housing Act which comprises this chapter. AMENDMENTS 1988—Pub. L. 100–242 inserted section catchline ‘‘An- nual report of Secretary’’. 1967—Pub. L. 90–19 struck out ‘‘FHA’’ before ‘‘insur- ance’’ and substituted ‘‘Secretary of Housing and Urban Development’’ and ‘‘Department of Housing and Urban Development’’ for ‘‘Housing and Home Finance Administrator’’ and ‘‘Housing and Home Finance Agen- cy’’, respectively. 1965—Pub. L. 89–117 specifically included FHA insur- ance, urban renewal, public housing, and rent supple- ment programs within the operation and programs of the Housing and Home Finance Agency which the re- port shall cover and inserted requirement that the re- port contain recommendations for improving programs and for new or alternative programs. § 1701p. Contents of report to President and Con- gress The annual report made by the Secretary of Housing and Urban Development to the Presi- dent for submission to the Congress on all oper- ations provided for by section 1701o of this title shall contain pertinent information with respect to all projects for which any loan, contribution, or grant has been made by the Department of Housing and Urban Development, including the amount of loans, contributions and grants con- tracted for. (Aug. 2, 1954, ch. 649, title VIII, § 817, 68 Stat. 648; Pub. L. 90–19, § 10(j), May 25, 1967, 81 Stat. 23; Pub. L. 97–375, title II, § 207(a), Dec. 21, 1982, 96 Stat. 1824.) Editorial Notes CODIFICATION Section was enacted as part of the Housing Act of 1954, and not as part of the National Housing Act which comprises this chapter. Page 446 TITLE 12—BANKS AND BANKING § 1701p–1 AMENDMENTS 1982—Pub. L. 97–375 struck out requirement for the inclusion of pertinent information respecting all build- ers’ cost certifications required by section 1715r of this title, including amounts paid by mortgagors to mortga- gees for application to the reduction of the principal obligations of the mortgages pursuant to that section. 1967—Pub. L. 90–19 substituted ‘‘Secretary of Housing and Urban Development’’ and ‘‘Department of Housing and Urban Development’’ for ‘‘Housing and Home Fi- nance Administrator’’ and ‘‘Housing and Home Finance Agency’’, respectively. § 1701p–1. Periodic report on residential mort- gage delinquencies and foreclosures As soon as practicable following November 30, 1983, the Secretary of Housing and Urban Devel- opment, with the cooperation of the Federal Housing Finance Agency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the Comp- troller of the Currency, shall develop a method of accurately reporting to the Congress on a periodic basis with respect to residential mort- gage delinquencies and foreclosures. Each such report shall include information with respect to the number of residential mortgage foreclosures, and the number of sixty- and ninety-day resi- dential mortgage delinquencies, in the Nation and in each State. (Pub. L. 98–181, title I [title IV, § 469], Nov. 30, 1983, 97 Stat. 1237; Pub. L. 111–203, title III, § 372, July 21, 2010, 124 Stat. 1566.) Editorial Notes CODIFICATION Section was enacted as part of the Housing and Urban–Rural Recovery Act of 1983 and also as part of the Domestic Housing and International Recovery and Financial Stability Act, and not as part of the National Housing Act which comprises this chapter. AMENDMENTS 2010—Pub. L. 111–203 substituted ‘‘Federal Housing Fi- nance Agency’’ for ‘‘Federal Home Loan Bank Board’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2010 AMENDMENT Amendment by Pub. L. 111–203 effective on the trans- fer date, see section 351 of Pub. L. 111–203, set out as a note under section 906 of Title 2, The Congress. TERMINATION OF REPORTING REQUIREMENTS For termination, effective May 15, 2000, of provisions of law requiring submittal to Congress of any annual, semiannual, or other regular periodic report listed in House Document No. 103–7 (in which a report required under this section is listed on page 105), see section 3003 of Pub. L. 104–66, set out as a note under section 1113 of Title 31, Money and Finance. § 1701p–2. Default and foreclosure database (a) Establishment The Secretary of Housing and Urban Develop- ment and the Director of the Bureau, in con- sultation with the Federal agencies responsible for regulation of banking and financial institu- tions involved in residential mortgage lending and servicing, shall establish and maintain a database of information on foreclosures and de- faults on mortgage loans for one- to four-unit residential properties and shall make such infor- mation publicly available, subject to subsection (e). (b) Census tract data Information in the database may be collected, aggregated, and made available on a census tract basis. (c) Requirements Information collected and made available through the database shall include— (1) the number and percentage of such mort- gage loans that are delinquent by more than 30 days; (2) the number and percentage of such mort- gage loans that are delinquent by more than 90 days; (3) the number and percentage of such prop- erties that are real estate-owned; (4) number and percentage of such mortgage loans that are in the foreclosure process; (5) the number and percentage of such mort- gage loans that have an outstanding principal obligation amount that is greater than the value of the property for which the loan was made; and (6) such other information as the Secretary of Housing and Urban Development and the Director of the Bureau consider appropriate. (d) Rule of construction Nothing in this section shall be construed to encourage discriminatory or unsound allocation of credit or lending policies or practices. (e) Privacy and confidentiality In establishing and maintaining the database described in subsection (a), the Secretary of Housing and Urban Development and the Direc- tor of the Bureau shall— (1) be subject to the standards applicable to Federal agencies for the protection of the con- fidentiality of personally identifiable informa- tion and for data security and integrity; (2) implement the necessary measures to conform to the standards for data integrity and security described in paragraph (1); and (3) collect and make available information under this section, in accordance with para- graphs (5) and (6) of section 5512(c) of this title and the rules prescribed under such para- graphs, in order to protect privacy and con- fidentiality. (Pub. L. 111–203, title XIV, § 1447, July 21, 2010, 124 Stat. 2172.) Editorial Notes CODIFICATION Section was enacted as part of the Expand and Pre- serve Home Ownership Through Counseling Act and also as part of the Mortgage Reform and Anti-Preda- tory Lending Act and as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and not as part of the National Housing Act which comprises this chapter. Statutory Notes and Related Subsidiaries EFFECTIVE DATE Section effective on the date on which final regula- tions implementing such section take effect, or on the