Page:United States Statutes at Large Volume 106 Part 5.djvu/333

 PUBLIC LAW 102-550—OCT. 28, 1992 106 STAT. 3971 (1) the requirements applicable to the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation under Federal law and the costs to the enterprises; (2) the cost of capital to the enterprises; (3) housing afTordability and availability and the cost of homeownership; (4) the level of secondary mortgage market competition subsequently available in the private sector; (5) whether increased amounts of capital would be necessary for the enterprises to continue operation; (6) the secondary market for residential loans and the liquidity of such loans; and (7) any other factors that the Comptroller General, the Secretary of Housing and Urban Development, the Secretary of the Treasury, or the Director of the Congressional Budget OfiEice deems appropriate to enable the Congress to evaluate the desirability and feasibility of privatization of the enterprises. (c) INFORMATION. —The Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation shall provide full and prompt access to the Comptroller General, the Secretary of Housing and Urban Development, the Secretary of the Treasury, and the Director of the Congressional Budget Office to any books, records, and other information requested for the purposes of conducting the studies under this section. (d) VIEWS OF THE FNMA AND FHLMC.- - (1) CONSIDERATION IN STUDIES.— In conducting the studies under this section, the Comptroller General, the Secretary of Housing and Urban Development, the Secretary of the Treasury, and the Director of the Congressional Budget OfRce shall each consider the views of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. (2) DIRECT REPORT. —The Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation may each report directly to the Committee on Banking, Finance and Urban Affairs of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate on its own analysis of the desirability and feasibility of repealing the Federal charters of the enterprises, eliminating any Federal sponsorship, and allowing the enterprises to continue to operate as fully private entities. SEC. 1366. TRANSITION. 12 USC 4603. Before the expiration of the period ending 18 months after the appointment of the Director under section 1312, any rules and regulations promulgated before the date of the enactment of this Act by the Secretary pursuant to the Federal National Mortgage Association Charter Act or the Federal Home Loan Mortgage Corporation Act shall remain in effect unless modified, terminated, superseded, or revoked by operation of law or in accordance with law. Such rules and regulations shall terminate, effective upon Termination the expiration of such period.

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