[Congressional Record Volume 172, Number 42 (Thursday, March 5, 2026)]
[Senate]
[Pages S899-S902]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
SA 4364. Mr. REED submitted an amendment intended to be proposed by
him to the bill H.R. 6644, a bill to increase the supply of housing in
America, and for other purposes; which was ordered to lie on the table;
as follows:
At the appropriate place, insert the following:
SEC. ___. PRESERVING HOMES AND COMMUNITIES.
(a) Sale of FHA Non-performing Single Family Mortgage
Loans.--
(1) 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:
[[Page S900]]
``(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;
[[Page S901]]
``(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.''.
(2) 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 subsection.
(b) 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.
[[Page S902]]
``(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.''.
______