Page:United States Statutes at Large Volume 106 Part 5.djvu/324

 106 STAT. 3962 PUBLIC LAW 102-550—OCT. 28, 1992 (A) assist primary lenders to make housing credit available in areas with concentrations of low-income and minority families, and (B) assist insured depository institutions to meet their obligations under the Community Reinvestment Act of 1977, which shall include developing appropriate and prudent underwriting standards, business practices, repurchase requirements, pricing, fees, and procedures; and (4) develop the institutional capacity to help finance lowand moderate-income housing, including housing for first-time homebuyers. 12 USC 4566. SEC. 1336. MONITORING AND ENFORCING COMPLIANCE WITH HOUS- ING GOALS. (a) IN GENERAL.— (1) AUTHORITY.— The Secretary shall monitor and enforce compliance with the housing goals established under sections 1332, 1333, and 1334, as provided in this section. (2) GUIDELINES.—The Secretary shall establish guidelines to measure the extent of compliance with the housing goals, which may assign full credit, partial credit, or no credit toward achievement of the housing goals to different categories of mortgage purchase activities of the enterprises, based on such criteria as the Secretary deems appropriate. (3) EXTENT OF COMPLIANCE. — In determining compliance with the housing goals established under this subpart, the Secretary— (A) shall consider any single mortgage purchased by an enterprise as contributing to the achievement of each housing goal for which such mortgage purchase qualifies; and (B) may take into consideration the number of housing units financed by any mortgage on housing purchased by an enterprise. (b) NOTICE AND DETERMINATION OF FAILURE TO MEET GOALS.— (1) NOTICE.— If the Secretary determines that an enterprise has failed, or that there is a substantial probability that an enterprise will fsdl, to meet any housing goal established under section 1332, 1333, or 1334, the Secretary shall provide written notice to the enterprise of such a determination, the reasons for such determination, the requirement to submit a housing plan under subsection (c) of this section, and the information on which the Secretary based the determination or imposed such requirement. (2) RESPONSE PERIOD.— (A) IN GENERAL.— During the 30-day period beginning on the date that an enterprise is provided notice under paragraph (1), the enterprise may submit to the Secretary any written information that the enterprise considers appropriate for consideration by the Secretary in determining whether such failure has occurred or whether the achievement of such goal was or is feasible. (B) EXTENDED PERIOD.— The Secretary may extend the period under subparagraph (A) for good cause for not more than 30 additional days.

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