No official summary available for this bill.
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 3753 Introduced in Senate (IS)]
<DOC>
119th CONGRESS
2d Session
S. 3753
To provide requirements for the bulk auction or group sale of certain
non-performing loans, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
January 30, 2026
Mr. Reed (for himself, Ms. Smith, Mr. Wyden, Mr. Schumer, and Mr.
Merkley) introduced the following bill; which was read twice and
referred to the Committee on Banking, Housing, and Urban Affairs
_______________________________________________________________________
A BILL
To provide requirements for the bulk auction or group sale of certain
non-performing loans, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Preserving Homes and Communities Act
of 2026''.
SEC. 2. SALE OF FHA NON-PERFORMING SINGLE FAMILY MORTGAGE LOANS.
(a) In General.--Title II of the National Housing Act (12 U.S.C.
1707 et seq.) is amended by adding at the end the following:
``SEC. 259. SALE OF NON-PERFORMING SINGLE FAMILY MORTGAGE LOANS.
``(a) Single Family Sales.--The Secretary may conduct sales of 1 or
more single family non-performing residential mortgage loans insured
under this title only if the following requirements are met:
``(1) The Secretary determines that no other reasonable
measures other than a sale are available to restore the Fund
to, or keep the Fund above, the minimum capital requirements
under section 205(f)(4).
``(2) The Secretary establishes a system that provides
priority to Federal, State, local, or Tribal governments or
nonprofit organizations that have the capacity and experience
required for buying, servicing, and resolving single family
mortgage loans in a manner that promotes affordable housing,
fair housing, affordable homeownership, housing counseling, or
neighborhood stabilization.
``(3) Applicable loss mitigation required under section 230
is exhausted before any loan is placed into the loan sale.
``(4) Clear, written notice is sent by certified and first-
class mail by the servicer to the borrower of the loan, all
owners of record, and any applicable estate of the borrower
with a copy sent to the Secretary, not less than 90 days before
the inclusion of the loan in any single family sale--
``(A) stating that the loan will be included in a
single family sale of non-performing loans; and
``(B) describing the sale process, including--
``(i) the loss mitigation or other
protections available to the borrower and other
owners of record both before and after the
sale;
``(ii) the status of any loss mitigation
actions offered by the mortgagee with respect
to the loan, including decisions on all loss
mitigation reviews, descriptions of any loss
mitigation options offered or denied, and
supporting documentation for the most recent
evaluation; and
``(iii) the obligations of the servicer of
the loan before and after the sale, including
loss mitigation requirements.
``(5) Purchasers take loans subject to the following
requirements:
``(A) The provision of loss mitigation options to
all eligible borrowers that offer terms and protections
at least as favorable as those available under loss
mitigation guidelines of the Federal Housing
Administration, including the absence of fees for loss
mitigation and loan modifications that reduce payments
to an affordable level.
``(B) The provision of a deferral program that
offers terms and protections at least as favorable as
those provided by a partial claim available under loss
mitigation guidelines of the Federal Housing
Administration, including the absence of fees, to
borrowers who can afford their pre-hardship mortgage
payment.
``(C) Written, public disclosure of post-sale loss
mitigation options.
``(D) Failure by the purchaser to follow the
established loss mitigation guidelines shall serve as a
defense to a judicial foreclosure and a basis to enjoin
or otherwise stay a non-judicial foreclosure.
``(E) Data reporting as provided under subsection
(d)(1).
``(F) Maintenance of vacant and abandoned property,
including the payment of local property taxes, until
such time as title is transferred to a nonprofit
organization or the property is sold to a bona fide
third-party purchaser.
``(G) Where a property becomes vacant, the
purchaser shall not release the lien until the property
is sold or donated.
``(H) Use of contract for deed, lease to own, or a
land installment contract to sell or otherwise transfer
any property that is secured by a purchased loan shall
be prohibited unless the tenant or purchaser is a
nonprofit organization.
``(I) For all non-performing loans where a home
retention loss mitigation option is not possible and
the purchaser acquires the property through foreclosure
sale, 75 percent of those properties shall be--
``(i) sold at the current fair market value
to an owner occupant;
``(ii) sold or donated to a non-profit or
local government entity that will commit to 1
of the outcomes described in clause (i) or
(iii);
``(iii) for not less than the 10-year
period beginning on the date on which any
entity initially leases the property, and with
respect to any new lease beginning within such
10-year period, leased to a tenant with income
that is not more than 100 percent of the area
median income at the time the tenant initially
leases the property, with monthly rents that
are not more than 30 percent of the monthly
household income, provided that the property
owner accepts as rental payment any legal
source of income, including--
``(I) a housing voucher under
section 8 of the United States Housing
Act of 1937 (42 U.S.C. 1437f) and any
form of Federal, State, or local
housing assistance provided to a person
or family or provided to a housing
owner on behalf of a person or family,
including--
``(aa) rental vouchers;
``(bb) rental assistance;
``(cc) rental subsidies
from nongovernmental
organizations; and
``(dd) homeownership
subsidies;
``(II) income received as a monthly
benefit under title II of the Social
Security Act (42 U.S.C. 401 et seq.),
as a supplemental security income
benefit under title XVI of the Social
Security Act (42 U.S.C. 1381 et seq.),
or as a benefit under the Railroad
Retirement Act of 1974 (45 U.S.C. 231
et seq.), including any such benefit to
which the individual is entitled for
which payment is made to a
representative payee;
``(III) income received by court
order, including spousal support and
child support;
``(IV) any payment from a trust,
guardian, conservator, cosigner, or
relative; and
``(V) any other lawful source of
income or funds, including savings
accounts and investments; or
``(iv) for any property that is not
habitable, demolished or donated to a land bank
with a cash donation to cover demolition costs.
``(b) Direct Loan Sales.--The Secretary may permit direct loan
sales of single family non-performing residential loans insured under
this title only if--
``(1) the loans are sold to municipalities, land banks, or
nonprofit organizations that work in affordable housing,
housing counseling, or neighborhood stabilization;
``(2) the purchaser complies with the requirements under
paragraph (5) of subsection (a); and
``(3) the pricing reasonably reflects the costs of
complying with the requirements under paragraphs (3) through
(5) of subsection (a).
``(c) Forbearance.--The Secretary may not sell--
``(1) a single family non-performing residential loan
insured under this Title while the loan is in a forbearance
plan.
``(2) a single family non-performing residential loan
insured under this title that is not more than 90 days from the
end of a forbearance plan.
``(d) Data and Reporting.--
``(1) Purchaser reporting.--During the 4-year period
following any single family sale of non-performing residential
single family mortgage loans under subsection (a) or (b), the
Secretary shall require each purchaser of such a loan,
including any subsequent purchaser of the loan, to provide to
the Secretary quarterly loan-level data regarding the treatment
and outcome of the loan, including--
``(A) loan characteristics, including loan type,
remaining loan term, loan to value ratio, number of
months in arrears, loss mitigation status, and
foreclosure status at time of sale;
``(B) loss mitigation data, including whether loss
mitigation was provided by the purchaser, debt-to-
income ratio and percent payment reduction for any
modified loans, foreclosures begun or completed, and
performance of modified loans;
``(C) demographic data for the borrower and any co-
borrower, including race, national origin, sex, ZIP
Code, and census tract, and, if available, disability
status and veteran status; and
``(D) other purchaser actions, including charge
offs and resales of loans and dates for such actions.
``(2) Semiannual reports to congress.--The Secretary shall
submit to Congress, and make publicly available at no cost to
the public in a format that is readily accessible on the
website of the Department of Housing and Urban Development,
semi-annual reports to Congress on--
``(A) loans sold in a single family sale under
subsection (a), disaggregated by pool, including--
``(i) the number of loans and types of
loans;
``(ii) mean and median delinquency and loan
to value ratios at the time of the sale;
``(iii) the number and percentage of owner-
occupied properties;
``(iv) the number and percentage of loans
modified prior to the sale;
``(v) the number and percentage of loans in
foreclosure proceedings at the time of the
sale; and
``(vi) demographic and geographic data,
including property locations by census tract or
larger geographic location if necessary to
protect personally identifiable information;
``(B) the performance of loans after a single
family sale under subsection (a), disaggregated by loan
pool, including the initial purchaser, current owner,
current servicer, data summarizing any alternatives to
foreclosure offered and enacted, and data summarizing
the data collected under paragraph (1);
``(C) the results of a fair lending analysis
conducted based on the data in paragraph (1) to
identify any discriminatory impacts or outcomes
associated with the sales; and
``(D) claims paid through the Claims Without
Conveyance of Title program under section 204(a)(1)(C),
including the number of third party sales by ZIP Code,
whether purchasers are owner-occupants, nonprofit
organizations, government entities, or investors, and
the source of funds or financing used by purchasers.
``(e) Penalties for Noncompliance.--The Secretary may--
``(1) forcibly retain loans or properties, without
providing compensation, from purchasers that do not meet the
requirements under subsection (a)(5); and
``(2) enact additional penalties for purchasers described
in paragraph (1) that the Secretary determines have repeatedly
not complied with the requirements under subsection (a)(5),
including monetary penalties and prohibition from participating
in single family sales under this section.
``(f) Regulations.--The Secretary shall issue regulations related
to single family sales in accordance with the requirements in this
section.
``SEC. 260. CLAIMS WITHOUT CONVEYANCE OF TITLE FIRST LOOK PROGRAM.
``(a) Claims Without Conveyance of Title First Look Program.--With
respect to a third party sale of properties foreclosed upon and put up
for sale in accordance with section 204(a)(1)(C), the Secretary shall
maintain an exclusive right for eligible buyers to purchase these
properties at a price at or below the fair market value of the property
(with appropriate adjustments) for a specified period of time at the
start of post-foreclosure sale efforts.
``(b) Eligible Buyers.--The right to purchase a property under
subsection (a) shall be offered to--
``(1) homebuyers who will occupy the property as a
principal residence;
``(2) nonprofit organizations that--
``(A) commit in advance to rehabilitate the
property and dispose of the property for an allowable
use and within a time period to be designated by the
Secretary by regulation;
``(B) are pre-approved for participation by the
Secretary or a designee thereof to ensure that the
organization--
``(i) maintains active tax-exempt status
under section 501(c)(3) of the Internal Revenue
Code;
``(ii) has a primary mission related to--
``(I) affordable housing; or
``(II) community revitalization
through housing-related activities; and
``(iii) has demonstrated not less than 2
years of direct experience with real estate
project development as an organizational
entity; and
``(3) Federal, State, local, or Tribal government agencies
or instrumentalities that meet the requirements of subparagraph
(A) and clauses (ii) and (iii) of subparagraph (B) of paragraph
(2).
``(c) Allowable Uses.--An allowable use described in this
subsection shall include--
``(1) renovation and sale, or, if the property already
meets the minimum property standards set by the Assistant
Secretary for Housing and Federal Housing Commissioner, sale
without renovation, to an owner-occupant with an income that is
not more than 120 percent of the area median income;
``(2) renovation and creation of affordable homeownership
or, if the property already meets the minimum property
standards set by the Assistant Secretary for Housing and
Federal Housing Commissioner, creation of affordable
homeownership without renovation, by a community land trust or
shared equity homeownership program;
``(3) renovation and rental to tenants with an income that
is not more than 100 percent of the area median income at the
time the tenant initially leases the property, with monthly
rents that are not more than 30 percent of the monthly
household income, for not less than the 10-year period
beginning on the date on which any entity initially leases the
property, and with respect to any new lease beginning within
such 10-year period, provided that the property owner accepts
as rental payment any legal source of income, including--
``(A) a housing voucher under section 8 of the
United States Housing Act of 1937 (42 U.S.C. 1437f) and
any form of Federal, State, or local housing assistance
provided to a person or family or provided to a housing
owner on behalf of a person or family, including--
``(i) rental vouchers;
``(ii) rental assistance;
``(iii) rental subsidies from
nongovernmental organizations; and
``(iv) homeownership subsidies;
``(B) income received as a monthly benefit under
title II of the Social Security Act (42 U.S.C. 401 et
seq.), as a supplemental security income benefit under
title XVI of the Social Security Act (42 U.S.C. 1381 et
seq.), or as a benefit under the Railroad Retirement
Act of 1974 (45 U.S.C. 231 et seq.), including any such
benefit to which the individual is entitled for which
payment is made to a representative payee;
``(C) income received by court order, including
spousal support and child support;
``(D) any payment from a trust, guardian,
conservator, cosigner, or relative; and
``(E) any other lawful source of income or funds,
including savings accounts and investments; and
``(4) demolition, but only if the property is vacant or
uninhabitable and if the demolition is part of a strategy that
incorporates rehabilitation, new construction, or designation
of the land for use as a public amenity.
``(d) Reporting Requirements.--
``(1) In general.--Each purchaser of a property under this
section, other than an owner-occupant, shall, on an annual
basis until the purchaser completes the allowable use of the
property under subsection (c), report to the Secretary--
``(A) the start date and completion date of any
rehabilitation;
``(B) the scope of work for and the total cost of
any rehabilitation;
``(C) the end-use of the property, including sale
to owner-occupant, use in a land trust or other shared
equity program, or affordable rental;
``(D) the demographics of the end-user of the
property, whether an owner-occupant or a tenant,
including race, national origin, sex, ZIP Code, and
census tract, and, if available, disability status and
veteran status; and
``(E) the approximate income of the end-user of the
property expressed as a percentage of the area median
income.
``(2) Availability.--The Secretary shall, on an annual
basis, make the information collected under paragraph (1)
publicly available at no cost to the public in a readily
accessible format on the website of the Department of Housing
and Urban Development.
``(e) Use of Third Party Vendors.--The Secretary may contract with
a third-party vendor to assist in carrying out the provisions of this
section, including to--
``(1) pre-approve nonprofit organizations for participation
in the Claims Without Conveyance of Title First Look program;
``(2) monitor compliance with allowable uses and time
periods designated by the Secretary by regulation; and
``(3) facilitate reporting to the Secretary.
``(f) Access.--The Secretary shall ensure that any eligible buyer
seeking to purchase a property under this section can easily access and
inspect the property prior to making a commitment to purchase the
property.''.
(b) Regulations.--Not later than 18 months after the date of
enactment of this Act, the Secretary of Housing and Urban Development
shall promulgate regulations to carry out the amendments made by this
section.
SEC. 3. SALE OF FANNIE MAE AND FREDDIE MAC NON-PERFORMING LOANS.
The Federal Housing Enterprises Financial Safety and Soundness Act
of 1992 (12 U.S.C. 4501 et seq.) is amended by inserting after section
1328 (12 U.S.C. 4548) the following:
``SEC. 1329. SALE OF NON-PERFORMING LOANS.
``(a) Bulk Auction or Group Sales.--An enterprise may not conduct
bulk auctions or other group sales of single family non-performing
residential loans unless the following requirements are met:
``(1) The enterprise establishes a system that provides
priority to Federal, State, local, or Tribal governments or
nonprofit organizations that have the capacity and experience
required for buying, servicing, and resolving single family
mortgage loans in a manner that promotes affordable housing,
fair housing, affordable homeownership, provision of housing
counseling, or neighborhood stabilization.
``(2) Applicable loss mitigation is exhausted before a loan
may be placed into the bulk auction or group sale.
``(3) Clear, written notice is sent by the enterprise or
servicer through certified and first-class mail to the borrower
and all owners of record, with a copy sent to the enterprise if
sent by the servicer, not less than 90 days before the
inclusion of the loan in any proposed sale--
``(A) stating that the loan will be included in a
bulk auction or group sale of non-performing loans; and
``(B) describing the bulk auction or group sale
process, including--
``(i) the loss mitigation or other
protections available to the borrower and other
owners of record both before and after the
auction or sale;
``(ii) the status of any loss mitigation
actions offered by the mortgagee with respect
to the loan, including decisions on all loss
mitigation reviews, descriptions of any loss
mitigation options offered or denied, and
supporting documentation for the most recent
evaluation; and
``(iii) the obligations of the servicer of
the loan before and after the auction or sale,
including loss mitigation requirements.
``(4) The enterprise requires in the terms of the bulk
auction or group sale that purchasers take loans subject to the
following requirements:
``(A) The purchaser is required to provide loss
mitigation options to all eligible borrowers that offer
terms and protections at least as favorable as those
available under loss mitigation guidelines of the
enterprise, including the absence of fees for loss
mitigation and loan modifications that reduce payments
to an affordable level.
``(B) The purchaser is required to offer a deferral
program that offers terms and protections at least as
favorable as those available under loss mitigation
guidelines of the enterprise, including the absence of
fees, to borrowers who can afford their pre-hardship
mortgage payment.
``(C) The purchaser is required to provide written,
public disclosure of post-sale loss mitigation options
that the purchaser makes available to eligible
borrowers.
``(D) Failure by the purchaser to follow the
established loss mitigation guidelines shall serve as a
defense to a judicial foreclosure and a basis to enjoin
or otherwise stay a non-judicial foreclosure.
``(E) Data reporting as provided under subsection
(c)(1).
``(F) If a property becomes vacant, the purchaser
shall not release the lien until the property is sold
or donated.
``(G) Use of contract for deed, lease to own, or a
land installment contract to sell or otherwise transfer
any property that is secured by a purchased loan shall
be prohibited unless the tenant or purchaser is a
nonprofit organization.
``(H) For all non-performing loans where a home-
retention loss mitigation option is not possible and
the purchaser acquires the property through foreclosure
sale, 75 percent of those properties shall be--
``(i) sold at the current fair market value
to an owner-occupant;
``(ii) sold or donated to a nonprofit or
local government entity that will commit to 1
of the outcomes described in clause (i) or
(iii);
``(iii) for not less than the 10-year
period beginning on the date on which any
entity initially leases the property, and with
respect to any new lease beginning within such
10-year period, leased to a tenant with an
income that is not more than 100 percent of the
area median income at the time the tenant
initially leases the property, with monthly
rents that are not more than 30 percent of the
monthly household income, provided that the
property owner accepts as rental payment any
legal source of income, including--
``(I) a housing voucher under
section 8 of the United States Housing
Act of 1937 (42 U.S.C. 1437f) and any
form of Federal, State, or local
housing assistance provided to a person
or family or provided to a housing
owner on behalf of a person or family,
including--
``(aa) rental vouchers;
``(bb) rental assistance;
``(cc) rental subsidies
from nongovernmental
organizations; and
``(dd) homeownership
subsidies;
``(II) income received as a monthly
benefit under title II of the Social
Security Act (42 U.S.C. 401 et seq.),
as a supplemental security income
benefit under title XVI of the Social
Security Act (42 U.S.C. 1381 et seq.),
or as a benefit under the Railroad
Retirement Act of 1974 (45 U.S.C. 231
et seq.), including any such benefit to
which the individual is entitled for
which payment is made to a
representative payee;
``(III) income received by court
order, including spousal support and
child support;
``(IV) any payment from a trust,
guardian, conservator, cosigner, or
relative; and
``(V) any other lawful source of
income or funds, including savings
accounts and investments; or
``(iv) for any property that is not
habitable, demolished or donated to a land bank
with a cash donation to cover demolition costs.
``(5) The enterprise maintains vacant and abandoned
property until such time as title is transferred to a nonprofit
organization or the property is sold to a bona fide third-party
purchaser.
``(b) Forbearance.--An enterprise may not sell--
``(1) a single family non-performing residential loan while
the loan is in a forbearance plan;
``(2) a single family non-performing residential loan that
is not more than 90 days removed from the end of a forbearance
plan.
``(c) Data and Reporting.--
``(1) Purchaser reporting.--During the 4-year period
following any auction or sale of single family non-performing
residential loans under subsection (a), the Director shall
require the enterprise to collect from each purchaser of such
loans, including any subsequent purchaser of a loan, quarterly
loan-level data regarding the treatment and outcome of the
loan, including--
``(A) loan characteristics, including loan type,
remaining loan term, loan to value ratio, number of
months in arrears, loss mitigation status, and
foreclosure status at time of sale;
``(B) loss mitigation data, including whether loss
mitigation was provided by the purchaser, debt-to-
income ratio and percent payment reduction for any
modified loans, foreclosures begun or completed, and
performance of modified loans;
``(C) demographic data for each borrower and any
co-borrower, including race, national origin, sex, ZIP
Code, and census tract, and, if available, disability
status and veteran status; and
``(D) other purchaser actions, including charge
offs and resales of loans and dates for such actions.
``(2) Semiannual reports to congress.--The Director shall
submit to Congress, and make publicly available at no cost to
the public in a readily accessible format on the website of the
Agency, semi-annual reports on--
``(A) loans sold in an auction or sale under
subsection (a) by each enterprise, disaggregated by
pool, including--
``(i) the number of loans and types of
loans;
``(ii) mean and median delinquency and loan
to value ratios at the time of the sale;
``(iii) the number and percentage of owner-
occupied properties;
``(iv) the number and percentage of loans
modified prior to auction or sale;
``(v) the number and percentage of loans in
foreclosure proceedings at the time of auction
or sale; and
``(vi) demographic and geographic data,
including property locations by census tract or
larger geographic location if necessary to
protect personally identifiable information;
``(B) the performance of loans after an auction or
sale under subsection (a), disaggregated by loan pool,
including the initial purchaser, current owner, current
servicer, data summarizing any alternatives to
foreclosure offered and enacted, and data summarizing
the data collected under subparagraph (A); and
``(C) the results of a fair lending analysis
conducted based on the data in subparagraphs (A) and
(B) to identify any discriminatory impacts or outcomes
associated with the auctions or sales.
``(d) Penalties for Noncompliance.--The enterprises may--
``(1) forcibly retain loans or properties, without
providing compensation, from purchasers that do not meet the
requirements under subsection (a)(4); and
``(2) enact additional penalties for purchasers described
in paragraph (1) that the Director determines have repeatedly
not complied with the requirements under subsection (a)(5),
including monetary penalties and prohibition from participating
in sales under this section.
``(e) Regulations.--The Director shall issue regulations defining
the terms of permissible auctions or sales in accordance with the
requirements in this section.
``SEC. 1330. SALE OF RE-PERFORMING LOANS.
``(a) Bulk Auction or Group Sales.--An enterprise may not conduct
bulk auctions or other group sales of single family re-performing
residential loans unless the following requirements are met:
``(1) The enterprise establishes a system that provides
priority to Federal, State, local, or Tribal governments or
nonprofit organizations that have the capacity and experience
required for buying, servicing, and resolving single family
mortgage loans in a manner that promotes affordable housing,
fair housing, affordable homeownership, provision of housing
counseling, or neighborhood stabilization.
``(2) Clear, written notice is sent by the enterprise or
servicer through certified and first-class mail to the borrower
and all owners of record, with a copy sent to the enterprise if
sent by the servicer, not less than 90 days before the
inclusion of the loan in any proposed sale--
``(A) stating that the loan will be included in a
bulk auction or group sale of re-performing loans; and
``(B) describing the bulk auction or group sale
process, including--
``(i) the loss mitigation or other
protections available to the borrower and other
owners of record both before and after the
auction or sale; and
``(ii) the obligations of the servicer of
the loan before and after the auction or sale,
including loss mitigation requirements.
``(3) The enterprise requires in the terms of the bulk
auction or group sale that purchasers take loans subject to the
following requirements:
``(A) The purchaser is required to offer targeted
payment relief options to borrowers that become more
than 60 days delinquent on their mortgage after their
loan is sold that includes deferral of principal and
term extension options that reduce payments to an
affordable level.
``(B) The purchaser is required to offer a deferral
program to borrowers that become more than 60 days
delinquent on their mortgage after their loan is sold
that offers terms and protections at least as favorable
as those available under loss mitigation guidelines of
the enterprise, including the absence of fees, to
borrowers who can afford their pre-hardship mortgage
payment.
``(C) Failure by the purchaser to follow the
established loss mitigation guidelines shall serve as a
defense to a judicial foreclosure and a basis to enjoin
or otherwise stay a non-judicial foreclosure.
``(D) Data reporting as provided under subsection
(b)(1).
``(E) If a property becomes vacant, the purchaser
shall not release the lien until the property is sold
or donated.
``(F) Use of contract for deed, lease to own, or a
land installment contract to sell or otherwise transfer
any property that is secured by a purchased loan shall
be prohibited unless the tenant or purchaser is a
nonprofit organization.
``(b) Data and Reporting.--
``(1) Purchaser reporting.--During the 4-year period
following any auction or sale of single family re-performing
residential mortgage loans under subsection (a), the Director
shall require the enterprise to collect from each purchaser of
such loans, including any subsequent purchaser of a loan,
quarterly loan-level data regarding the treatment and outcome
of the loan, including--
``(A) loan characteristics, including loan type,
remaining loan term, loan to value ratio, number of
months in arrears, and loan status;
``(B) loss mitigation data, including whether loss
mitigation was provided by the purchaser, debt-to-
income ratio and percent payment reduction for any
modified loans, and performance of modified loans;
``(C) demographic data for each borrower and any
co-borrower, including race, national origin, sex, ZIP
Code, and census tract, and, if available, disability
status and veteran status; and
``(D) other purchaser actions, including charge
offs and resales of loans and dates for such actions.
``(2) Semiannual reports to congress.--The Director shall
submit to Congress, and make publicly available at no cost to
the public in a readily accessible format on the website of the
Agency, semi-annual reports on--
``(A) loans sold in an auction or sale under
subsection (a) by each enterprise, disaggregated by
pool, including--
``(i) the number of loans and types of
loans;
``(ii) mean and median delinquency and loan
to value ratios at the time of the sale;
``(iii) the number and percentage of loans
modified prior to auction or sale; and
``(iv) demographic and geographic data,
including property locations by census tract or
larger geographic location if necessary to
protect personally identifiable information.
``(B) the performance of loans after an auction or
sale under subsection (a), disaggregated by loan pool,
including the initial purchaser, current owner, current
servicer, data summarizing any alternatives to
foreclosure offered and enacted, and data summarizing
the data collected under subparagraph (A); and
``(C) the results of a fair lending analysis
conducted based on the data in subparagraphs (A) and
(B) to identify any discriminatory impacts or outcomes
associated with the auctions or sales.
``(c) Penalties for Noncompliance.--The enterprises may forcibly
retain loans or properties, without providing compensation, from
purchasers that do not meet the requirements under subsection (a)(3).
``(d) Regulations.--The Director shall issue regulations defining
the terms of permissible auctions or sales in accordance with the
requirements in this section.''.
<all>
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S420)
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