I 

111TH CONGRESS 

1ST SESSION H. R. 3195 

To create a National Home Mortgage and Loan Performance Registry to 

maintain an inventory of the supply and performance of home mortgage 

loans in the United States to show market trends and dynamics in 

the mortgage lending industry and provide detailed information on national mortgage foreclosure rates. 

IN THE HOUSE OF REPRESENTATIVES 

JULY 14, 2009 

Mr. TURNER (for himself and Mr. MILLER of North Carolina) introduced the 

following bill; which was referred to the Committee on Financial Services 

A BILL 

To create a National Home Mortgage and Loan Performance 

Registry to maintain an inventory of the supply and 

performance of home mortgage loans in the United 

States to show market trends and dynamics in the mortgage lending industry and provide detailed information 

on national mortgage foreclosure rates. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘National Home Mort5 gage and Loan Performance Registry Act of 2009’’. 


smartinez on DSKB9S0YB1PROD with BILLS
2 

•HR 3195 IH

1 SEC. 2. FINDINGS AND PURPOSES. 

2 (a) FINDINGS.—The Congress finds that— 

3 (1) there is no standardized, centralized data 

4 readily available and reliable for government use 

5 that details national mortgage foreclosure rates for 

6 single-family housing, multifamily housing, and 

7 small farms, or mortgage default statistics; 

8 (2) currently there is no public database that is 

9 easily accessible to determine mortgage lending and 

10 foreclosure trends; 

11 (3) the Home Mortgage Disclosure Act of 1975 

12 could be used as a means of collecting data at loan 

13 origination and using such information throughout 

14 the life of the loan; and 

15 (4) the current mortgage crisis demonstrates 

16 the need to establish a centralized system to collect 

17 and disclose such information. 

18 (b) PURPOSE.—The purpose of this Act is to estab19 lish a National Home Mortgage and Loan Performance 

20 Registry— 

21 (1) to provide the public with timely mortgage 

22 performance information that can be used by the 

23 Departments of the Treasury and Housing and 

24 Urban Development, and other agencies of the Fed25 eral Government to monitor trends in the mortgage 

26 market, identify emerging problems, make decisions 


smartinez on DSKB9S0YB1PROD with BILLS
3 

•HR 3195 IH

1 about necessary interventions, conduct research, and 

2 effectively evaluate the housing market in the United 

3 States and Federal housing programs; and 

4 (2) that meets the reporting needs and require5 ments of the Federal Housing Finance Agency to 

6 provide timely mortgage performance information. 

7 SEC. 3. ADDITIONAL INFORMATION REPORTED BY LENDER 

8 AT LOAN ORIGINATION. 

9 Section 304(b) of the Home Mortgage Disclosure Act 

10 of 1975 (12 U.S.C. 2803(b)) is amended— 

11 (1) in paragraph (3), by striking ‘‘and’’ at the 

12 end; 

13 (2) in paragraph (4), by striking the period at 

14 the end and inserting ‘‘; and’’; and 

15 (3) by adding at the end the following: 

16 ‘‘(5) a unique identification number for each 

17 mortgage loan, which shall be a part of the perma18 nent record for such loan that is transmitted to any 

19 subsequent servicers of the loan; 

20 ‘‘(6) for each mortgage loan, the appraised 

21 value of the residence for which the loan was made 

22 as of the time of the origination of the loan; 

23 ‘‘(7) for each mortgage loan, a classification of 

24 the structure of the loan, by loan terms, including 

25 interest rate and repayment terms, such as 30-year 


smartinez on DSKB9S0YB1PROD with BILLS
4 

•HR 3195 IH

1 fixed, balloon payment, 5-year adjustable rate, and 

2 such other categories as the Board may establish; 

3 and 

4 ‘‘(8) for each mortgage loan, the lowest interest 

5 rate for which the borrower qualified without pay6 ment of discount points (commonly referred to as 

7 the par rate) to permit identification of mortgagors 

8 eligible for prime loans who were provided subprime 

9 loans.’’. 

10 SEC. 4. REPORTING OF INFORMATION BY SERVICERS. 

11 Section 304 of the Home Mortgage Disclosure Act 

12 of 1975 (12 U.S.C. 2803) is amended by adding at the 

13 end the following new subsection: 

14 ‘‘(n) LOAN SERVICER INFORMATION.— 

15 ‘‘(1) IN GENERAL.—The Board shall, in con16 junction with the Secretary of Housing and Urban 

17 Development, require other lending institutions, in18 cluding servicers of mortgage loans, to submit to the 

19 appropriate agency, as identified under subsection 

20 (h), the information required under paragraph (2) if 

21 any of the events referred to in paragraph (3) occurs 

22 during the term of the loan. 

23 ‘‘(2) REQUIRED INFORMATION.—The informa24 tion required under this paragraph with respect to 

25 a mortgage loan is— 


smartinez on DSKB9S0YB1PROD with BILLS
5 

•HR 3195 IH

1 ‘‘(A) the year that the loan was originated; 

2 ‘‘(B) the unique identifier number estab3 lished for the loan (pursuant to subsection 

4 (b)(5)); 

5 ‘‘(C) the type of event referred to in para6 graph (3) that occurred with respect to the 

7 loan; and 

8 ‘‘(D) in the case of any loan for which an 

9 event referred to in paragraph (3)(D) occurs— 

10 ‘‘(i) whether such event resulted in a 

11 new disclosure under subsections (a) and 

12 (b) for a new loan; 

13 ‘‘(ii) a description of the loan modi14 fications made, including any extension of 

15 amortization period, whether permanent or 

16 temporary, change in interest rate, write17 down or recapitalization of any one or 

18 more of fees, delinquent interest, or prin19 cipal obligation. 

20 ‘‘(3) LOAN EVENTS.—The events referred to in 

21 this paragraph are the following events: 

22 ‘‘(A) The borrower under the loan becomes 

23 90 days or more delinquent in payments due 

24 under the loan. 


smartinez on DSKB9S0YB1PROD with BILLS
6 

•HR 3195 IH

1 ‘‘(B) Foreclosure (including any judicial or 

2 nonjudicial foreclosure) is commenced with re3 spect to the loan. 

4 ‘‘(C) In the case of any loan that was in 

5 default or in foreclosure, the borrower under 

6 the loan becomes current with respect to obliga7 tions under the loan. 

8 ‘‘(D) Any modification is made with re9 spect to the terms of the loan. 

10 ‘‘(E) Foreclosure is completed with respect 

11 to the loan. 

12 ‘‘(4) DATA COLLECTED BY PRIVATE SECTOR.— 

13 The Board, in conjunction with the Secretary of 

14 Housing and Urban Development, shall collect any 

15 other information regarding mortgage loans, includ16 ing information collected or held by servicers of 

17 mortgage loans, that the Board considers necessary 

18 to accomplish the purposes of this Act and the Na19 tional Home Mortgage and Loan Performance Reg20 istry Act of 2009 and to provide a more comprehen21 sive public home mortgage information system. 

22 ‘‘(5) DEFINITION.—For purposes of this para23 graph, the term ‘servicer’ means, with respect to a 

24 mortgage loan, the person responsible for receiving 

25 scheduled periodic payments by the borrower under 


smartinez on DSKB9S0YB1PROD with BILLS
7 

•HR 3195 IH

1 the loan, including any payments for insurance, 

2 taxes, and any other amounts escrowed under the 

3 loan, and making payments of principal and interest 

4 and such other payments with respect to such 

5 amounts received from the borrower as may be re6 quired under the terms of the loan.’’. 

7 SEC. 5. NATIONAL HOME MORTGAGE AND LOAN PERFORM8 ANCE REGISTRY. 

9 The Home Mortgage Disclosure Act of 1975 (12 

10 U.S.C. 2801 et seq.) is amended by adding at the end 

11 the following new section: 

12 ‘‘SEC. 312. NATIONAL HOME MORTGAGE AND LOAN PER13 FORMANCE REGISTRY. 

14 ‘‘(a) ESTABLISHMENT.—The Board shall establish a 

15 National Home Mortgage and Loan Performance Registry 

16 (in this section referred to as the ‘Registry’) to compile 

17 and make available information collected under this Act 

18 regarding the making of mortgage loans and the perform19 ance of such loans, including information regarding de20 fault and foreclosure occurrences and rates, for mortgage 

21 loans for single-family housing, multifamily housing, and 

22 small farms. 

23 ‘‘(b) QUARTERLY REPORTS.— 

24 ‘‘(1) IN GENERAL.—Using information collected 

25 in the Registry, the Board shall submit a report for 


smartinez on DSKB9S0YB1PROD with BILLS
8 

•HR 3195 IH

1 each calendar quarter as promptly as possible after 

2 the conclusion of such quarter to the Congress, the 

3 Secretary of the Treasury, and the Secretary of 

4 Housing and Urban Development regarding the per5 formance of mortgage loans outstanding during such 

6 quarter in the United States. 

7 ‘‘(2) INFORMATION.—Each report under this 

8 subsection for a calendar quarter shall provide ag9 gregate data regarding mortgage loans originated 

10 during the quarter, mortgage loan defaults and de11 fault rates during the quarter, and mortgage loan 

12 foreclosures and foreclosure rates during the quarter 

13 and such other data as the Board considers appro14 priate to assist the housing industry, the Federal 

15 Government, and State and local governments to 

16 make effective decisions regarding the provision of 

17 housing and Federal housing assistance. Such data 

18 shall be provided for mortgage loans for each census 

19 tract, zip code, county, metropolitan area, and State, 

20 based on the location of the property securing the 

21 loan. 

22 ‘‘(3) REVIEW AND CERTIFICATION.—The Board 

23 shall review and certify the accuracy of the data in24 cluded in each quarterly report under this subsection 


smartinez on DSKB9S0YB1PROD with BILLS
9 

•HR 3195 IH

1 before submitting such report in accordance with 

2 paragraph (1). 

3 ‘‘(4) PUBLIC AVAILABILITY.—The Board shall 

4 make each report under this subsection publicly 

5 available upon submission in accordance with para6 graph (1).’’. 

7 SEC. 6. REPORT TO CONGRESS ON IMPROVING REGISTRY. 

8 Not later than the expiration of the 18-month period 

9 beginning on the date of the enactment of this Act, the 

10 Board of Governors of the Federal Reserve System, the 

11 Secretary of the Treasury, and Secretary of Housing and 

12 Urban Development shall jointly submit a report to the 

13 Congress setting forth any additional actions or authority 

14 necessary to provide for the National Home Mortgage and 

15 Loan Performance Registry (as established under the 

16 amendment made by section 5 of this Act) to— 

17 (1) more accurately determine and report fore18 closure rates for residential mortgages, including 

19 mortgage statistics, for single-family and multifamily 

20 housing and small farms in the United States; and 

21 (2) obtain information sufficient to allow— 

22 (A) more effective use of the Registry to 

23 evaluate existing Federal housing programs; 

24 and 


smartinez on DSKB9S0YB1PROD with BILLS
10 

•HR 3195 IH

1 (B) more effective use of the Registry to 

2 evaluate mortgage lending practices; and 

3 (3) to improve the function and purpose of the 

4 Registry. 

5 SEC. 7. REGULATIONS. 

6 Not later than the expiration of the 18-month period 

7 beginning on the date of the enactment of this Act, the 

8 Board of Governors of the Federal Reserve System shall 

9 commence a rulemaking proceeding to issue any regula10 tions necessary to amend, modify, and update the regula11 tions of the Board regarding home mortgage disclosure 

12 (12 C.F.R. part 203; known as regulation C) in accord13 ance with this Act and the amendments made by this Act. 

Æ 


smartinez on DSKB9S0YB1PROD with BILLS