219 
purposes of the enterprise established by law; 
and 
‘‘(B) each Federal home loan bank has 
taken or could undertake to promote and ex-
pand the community investment program and 
affordable housing program of the bank estab-
lished under subsections (i) and (j) of section 
10 of the Federal Home Loan Bank Act; 
‘‘(5) examine the primary and secondary multi-
family housing mortgage markets and describe— 
‘‘(A) the availability and liquidity of mort-
gage credit; 
‘‘(B) the status of efforts to provide stand-
ard credit terms and underwriting guidelines 
for multifamily housing and to securitize such 
mortgage products; and 
‘‘(C) any factors inhibiting such standard-
ization and securitization; 
‘‘(6) examine actions each regulated entity has 
undertaken and could undertake to promote and ex-
pand opportunities for first-time homebuyers, includ-
ing the use of alternative credit scoring; 
‘‘(7) describe any actions taken under section 
1325(5) with respect to originators found to violate 
fair lending procedures; 
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220 
‘‘(8) discuss and analyze existing conditions and 
trends, including conditions and trends relating to 
pricing, in the housing markets and mortgage mar-
kets; and 
‘‘(9) identify the extent to which each enter-
prise is involved in mortgage purchases and sec-
ondary market activities involving subprime loans 
(as identified in accordance with the regulations 
issued pursuant to section 1034(b) of the Federal 
Housing Finance Reform Act of 2008) and compare 
the characteristics of subprime loans purchased and 
securitized by the enterprises to other loans pur-
chased and securitized by the enterprises. 
‘‘(c) DATA COLLECTION AND REPORTING.— 
‘‘(1) IN GENERAL.—To assist the Director in 
analyzing the matters described in subsection (b) 
and establishing the methodology described in sec-
tion 1322, the Director shall conduct, on a monthly 
basis, a survey of mortgage markets in accordance 
with this subsection. 
‘‘(2) DATA POINTS.—Each monthly survey con-
ducted by the Director under paragraph (1) shall 
collect data on— 
‘‘(A) the characteristics of individual mort-
gages that are eligible for purchase by the en-
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221 
terprises and the characteristics of individual 
mortgages that are not eligible for purchase by 
the enterprises including, in both cases, infor-
mation concerning— 
‘‘(i) the price of the house that se-
cures the mortgage; 
‘‘(ii) the loan-to-value ratio of the 
mortgage, which shall reflect any sec-
ondary liens on the relevant property; 
‘‘(iii) the terms of the mortgage; 
‘‘(iv) the creditworthiness of the bor-
rower or borrowers; and 
‘‘(v) whether the mortgage, in the 
case of a conforming mortgage, was pur-
chased by an enterprise; and 
‘‘(B) such other matters as the Director 
determines to be appropriate. 
‘‘(3) PUBLIC
AVAILABILITY.—The Director 
shall make any data collected by the Director in con-
nection with the conduct of a monthly survey avail-
able to the public in a timely manner, provided that 
the Director may modify the data released to the 
public to ensure that the data is not released in an 
identifiable form. 
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222 
‘‘(4) DEFINITION.—For purposes of this sub-
section, the term ‘identifiable form’ means any rep-
resentation of information that permits the identity 
of a borrower to which the information relates to be 
reasonably inferred by either direct or indirect 
means.’’. 
(b) STANDARDS FOR SUBPRIME LOANS.—The Direc-
tor shall, not later than one year after the effective date 
under section 1065, by regulations issued under section 
1316G of the Housing and Community Development Act 
of 1992, establish standards by which mortgages pur-
chased and mortgages purchased and securitized shall be 
characterized as subprime for the purpose of, and only for 
the purpose of, complying with the reporting requirement 
under section 1324(b)(9) of such Act. 
SEC. 1035. ANNUAL REPORTS BY REGULATED ENTITIES ON 
AFFORDABLE HOUSING STOCK. 
The Housing and Community Development Act of 
1992 is amended by inserting after section 1328 (12 
U.S.C. 4548) the following new section: 
‘‘SEC. 1329. ANNUAL REPORTS ON AFFORDABLE HOUSING 
STOCK. 
‘‘(a) IN GENERAL.—The regulated entities shall con-
duct, or provide for the conducting of, a study on an an-
nual basis to determine the levels of affordable housing 
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223 
inventory, and the changes in such levels, in communities 
throughout the United States. 
‘‘(b) CONTENTS.—The annual study under this sec-
tion shall determine, for the United States, each State, 
and each community within each State— 
‘‘(1) the level of affordable housing inventory, 
including affordable rental dwelling units and afford-
able homeownership dwelling units; 
‘‘(2) any changes to the level of such inventory 
during the 12-month period of the study under this 
section, including— 
‘‘(A) any additions to such inventory, 
disaggregated by the category of such additions 
(including new construction or housing conver-
sion); 
‘‘(B) any subtractions from such inventory, 
disaggregated by the category of such subtrac-
tions (including abandonment, demolition, or 
upgrade to market-rate housing); 
‘‘(C) the number of new affordable dwell-
ing units placed in service; and 
‘‘(D) the number of affordable housing 
dwelling units withdrawn from service; 
‘‘(3) the types of financing used to build any 
dwelling units added to such inventory level and the 
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224 
period during which such units are required to re-
main affordable; 
‘‘(4) any excess demand for affordable housing, 
including the number of households on rental hous-
ing waiting lists and the tenure of the wait on such 
lists; and 
‘‘(5) such other information as the Director 
may require. 
‘‘(c) REPORT.—For each annual study conducted 
pursuant to this section, the regulated entities shall sub-
mit to the Congress, and make publicly available, a report 
setting forth the findings of the study. 
‘‘(d) REGULATIONS
AND
TIMING.—The Director 
shall, by regulation, establish requirements for the studies 
and reports under this section, including deadlines for the 
submission of such annual reports and standards for de-
termining affordable housing.’’. 
SEC. 1036. MORTGAGOR IDENTIFICATION REQUIREMENTS 
FOR MORTGAGES OF REGULATED ENTITIES. 
(a) IN GENERAL.—Subpart A of part 2 of subtitle 
A of title XIII of the Housing and Community Develop-
ment Act of 1992 (12 U.S.C. 4541 et seq.), as amended 
by the preceding provisions of this title, is further amend-
ed by adding at the end the following new section: 
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227 
(d) FEDERAL HOME LOAN BANKS.—Section 10(a) of 
the Federal Home Loan Bank Act (12 U.S.C. 1430(a)) 
is amended— 
(1) by redesignating paragraph (6) as para-
graph (7); and 
(2) by inserting after paragraph (5) the fol-
lowing new paragraph: 
‘‘(6) PROHIBITION
REGARDING
MORTGAGOR 
IDENTIFICATION REQUIREMENTS.—Nothing in this 
Act may be construed to authorize a Federal Home 
Loan Bank to provide any advance to a member for 
use in financing, or accept as collateral for an ad-
vance under this section, any mortgage that a Bank 
is prohibited from so accepting under the standards 
issued under section 1330 of the Housing and Com-
munity Development Act of 1992 by the Director of 
the Federal Housing Finance Agency.’’. 
SEC. 1037. REVISION OF HOUSING GOALS. 
(a) HOUSING GOALS.—The Housing and Community 
Development Act of 1992 is amended by striking sections 
1331 through 1334 (12 U.S.C. 4561–4) and inserting the 
following new sections: 
‘‘SEC. 1331. ESTABLISHMENT OF HOUSING GOALS. 
‘‘(a) IN GENERAL.—The Director shall establish, ef-
fective for the first year that begins after the effective date 
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under section 1065 of the Federal Housing Finance Re-
form Act of 2008 and each year thereafter, annual hous-
ing goals, with respect to the mortgage purchases by the 
enterprises, as follows: 
‘‘(1) SINGLE FAMILY HOUSING GOALS.—Three 
single-family housing goals under section 1332. 
‘‘(2) 
MULTIFAMILY
SPECIAL
AFFORDABLE 
HOUSING GOALS.—A multifamily special affordable 
housing goal under section 1333. 
‘‘(b) ELIMINATING INTEREST RATE DISPARITIES.— 
‘‘(1) IN GENERAL.—Upon request by the Direc-
tor, an enterprise shall provide to the Director, in a 
form determined by the Director, data the Director 
may review to determine whether there exist dispari-
ties in interest rates charged on mortgages to bor-
rowers who are minorities as compared with com-
parable mortgages to borrowers of similar credit-
worthiness who are not minorities. 
‘‘(2) REMEDIAL ACTIONS UPON PRELIMINARY 
FINDING.—Upon a preliminary finding by the Direc-
tor that a pattern of disparities in interest rates 
with respect to any lender or lenders exists pursuant 
to the data provided by an enterprise in paragraph 
(1), the Director shall— 
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229 
‘‘(A) refer the preliminary finding to the 
appropriate regulatory or enforcement agency 
for further review; 
‘‘(B) require the enterprise to submit addi-
tional data with respect to any lender or lend-
ers, as appropriate and to the extent prac-
ticable, to the Director who shall submit any 
such additional data to the regulatory or en-
forcement agency for appropriate action; and 
‘‘(C) require the enterprise to undertake 
remedial actions, as appropriate, pursuant to 
section 1325(5) (12 U.S.C. 4545(5)). 
‘‘(3) ANNUAL REPORT TO CONGRESS.—The Di-
rector shall submit to the Committee on Financial 
Services of the House of Representatives and the 
Committee on Banking, Housing, and Urban Affairs 
of the Senate a report describing the actions taken, 
and being taken, by the Director to carry out this 
subsection. No such report shall identify any lender 
or lenders who have not been found to have engaged 
in discriminatory lending practices pursuant to a 
final adjudication on the record, and after oppor-
tunity for an administrative hearing, in accordance 
with subchapter II of chapter 5 of title 5, United 
States Code. 
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‘‘(4) PROTECTION
OF
IDENTITY
OF
INDIVID-
UALS.—In carrying out this subsection, the Director 
shall ensure that no property-related or financial in-
formation that would enable a borrower to be identi-
fied shall be made public. 
‘‘(c) TIMING.—The Director shall establish an annual 
deadline by which the Director shall establish the annual 
housing goals under this subpart for each year, taking into 
consideration the need for the enterprises to reasonably 
and sufficiently plan their operations and activities in ad-
vance, including operations and activities necessary to 
meet such annual goals. 
‘‘SEC. 1332. SINGLE-FAMILY HOUSING GOALS. 
‘‘(a) IN GENERAL.—The Director shall establish an-
nual goals for the purchase by each enterprise of conven-
tional, conforming, single-family, purchase money mort-
gages financing owner-occupied and rental housing for 
each of the following categories of families: 
‘‘(1) Low-income families. 
‘‘(2) Families that reside in low-income areas. 
‘‘(3) Very low-income families. 
‘‘(b) REFINANCE SUBGOAL.— 
‘‘(1) IN GENERAL.—The Director shall establish 
a separate subgoal within each goal under subsection 
(a)(1) for the purchase by each enterprise of mort-
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gages for low-income families on single family hous-
ing given to pay off or prepay an existing loan se-
cured by the same property. The Director shall, for 
each year, determine whether each enterprise has 
complied with the subgoal under this subsection in 
the same manner provided under this section for de-
termining compliance with the housing goals. 
‘‘(2) ENFORCEMENT.—For purposes of section 
1336, the subgoal established under paragraph (1) 
of this subsection shall be considered to be a housing 
goal established under this section. Such subgoal 
shall not be enforceable under any other provision of 
this title (including subpart C of this part) other 
than section 1336 or under any provision of the 
Federal National Mortgage Association Charter Act 
or the Federal Home Loan Mortgage Corporation 
Act. 
‘‘(c) DETERMINATION OF COMPLIANCE.—The Direc-
tor shall determine, for each year that the housing goals 
under this section are in effect pursuant to section 
1331(a), whether each enterprise has complied with the 
single-family housing goals established under this section 
for such year. An enterprise shall be considered to be in 
compliance with such a goal for a year only if, for each 
of the types of families described in subsection (a), the 
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