(a) Study requiredThe Director shall conduct an extensive study of the root causes of default and foreclosure of home loans, using as much empirical data as is available.
(b) Preliminary report to CongressNot later than 6 months after July 30, 2008, the Director shall submit to Congress a preliminary report regarding the study required by this section.
(c) Final report to CongressNot later than 12 months after July 30, 2008, the Director shall submit to Congress a final report regarding the results of the study required by this section, which shall include any recommended legislation relating to the study, and recommendations for best practices and for a process to provide targeted assistance to populations with the highest risk of potential default or foreclosure.
Structure US Code
CHAPTER 51— SECURE AND FAIR ENFORCEMENT FOR MORTGAGE LICENSING
§ 5101. Purposes and methods for establishing a mortgage licensing system and registry
§ 5103. License or registration required
§ 5104. State license and registration application and issuance
§ 5105. Standards for State license renewal
§ 5106. System of registration administration by Federal agencies
§ 5108. Backup authority to establish a nationwide mortgage licensing and registry system
§ 5110. Background checks of loan originators
§ 5111. Confidentiality of information
§ 5113. Enforcement by the Bureau
§ 5114. State examination authority
§ 5115. Reports and recommendations to Congress