12 USC 1701p-2 - Default and foreclosure database

U.S Code last checked for updates: Oct 16, 2024

§ 1701p–2.

Default and foreclosure database

(a)

Establishment

(b)

Census tract data

(c)

Requirements

Information collected and made available through the database shall include—

(1)

the number and percentage of such mortgage loans that are delinquent by more than 30 days;

(2)

the number and percentage of such mortgage loans that are delinquent by more than 90 days;

(3)

the number and percentage of such properties 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 mortgage 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

(e)

Privacy and confidentiality

In establishing and maintaining the database described in subsection (a), the Secretary of Housing and Urban Development and the Director of the Bureau shall—

(1)

be subject to the standards applicable to Federal agencies for the protection of the confidentiality of personally identifiable information 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 paragraphs (5) and (6) of section 5512(c) of this title and the rules prescribed under such paragraphs, in order to protect privacy and confidentiality.

(Pub. L. 111–203, title XIV, § 1447, July 21, 2010, 124 Stat. 2172.)

cite as: 12 USC 1701p-2