Page:United States Statutes at Large Volume 103 Part 1.djvu/575

 PUBLIC LAW 101-73—AUG. 9, 1989 103 STAT. 547 SEC. 1220. REPORT ON LOAN DISCRIMINATION. (a) IN GENERAL. —Not later than 60 days after the date of enact- ment of this Act, the Secretary of Housing and Urban Development, the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration Board, and the Director of the Office of Thrift Supervision, shall each transmit to the Congress a report containing— (1) findings, based on a review of currently available loan acceptance and rejection statistics, on the extent of discrimina- tory lending practices by mortgage lenders subject to regulation or supervision by such agency; and (2) recommendations for appropriate measures to assure non- discriminatory lending practices. (h) SCOPE OF HUD REPORT. —The Secretary of Housing and Urban Development may exclude from the report under subsection (a) any data pertaining to mortgage lenders which are approved mortgagees under title II of the National Housing Act if data pertaining to such lenders is or will be included in the other reports under such subsection. SEC. 1221. SEPARABILITY OF PROVISIONS. 12 USC 1811 If any provision of this Act or the application thereof to any person or circumstance is held invalid, the remainder of the Act and the application of the provision to other persons not similarly situated or to other circumstances shall not be affected thereby. TITLE XIII—PARTICIPATION BY STATE HOUSING FINANCE AUTHORITIES AND NONPROFIT ENTITIES SEC. 1301. DEFINITIONS. 12 USC 1441a-l. For purposes of this title: (1) STATE HOUSING FINANCE AUTHORITY. — The term "State housing finance authority" means any public agency, authority, or corporation which— (A) serves as an instrumentality of any State or any political subdivision of any State; and (B) functions as a source of residential mortgage loan financing in that State. (2) NONPROFIT ENTITY.—The term "nonprofit entity" means any not-for-profit corporation chartered under State law that is exempt from Federal taxation under section 501(c) of the In- ternal Revenue Code of 1986 and no part of the net earnings of which inures to the benefit of any member, founder, contribu- tor, or individual (including any nonprofit entity established by the corporation established under title IX of the Housing and Urban Development Act of 1968). (3) MORTGAGE-RELATED ASSETS. —The term "mortgage-related assets" means— (A) residential mortgage loans secured by 1- to 4-family or multifamily dwellings; and (B) real property improved with 1- to 4-family or multi- family residential dwellings.

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