12 U.S.C. § 2801 — Congressional findings and declaration of

Page 1462 TITLE 12—BANKS AND BANKING §§ 2709, 2710 this title shall not exceed $500,000,000. Any amounts so appropriated shall remain available until expended.’’ 1976—Subsec. (b). Pub. L. 94–375 substituted ‘‘Sep- tember 30, 1977’’ for ‘‘June 30, 1976’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2010 AMENDMENT Amendment by Pub. L. 111–203 effective on the date on which final regulations implementing that amend- ment take effect, or on the date that is 18 months after the designated transfer date if such regulations have not been issued by that date, see section 1400(c) of Pub. L. 111–203, set out as a note under section 1601 of Title 15, Commerce and Trade. §§ 2709, 2710. Repealed. Pub. L. 111–203, title XIV, § 1496(b)(7), July 21, 2010, 124 Stat. 2209 Section 2709, Pub. L. 94–50, title I, § 110, July 2, 1975, 89 Stat. 253; Pub. L. 94–375, § 13(b), Aug. 3, 1976, 90 Stat. 1075; Pub. L. 98–479, title II, § 204(m)(2), Oct. 17, 1984, 98 Stat. 2234; Pub. L. 111–203, title III, § 361, July 21, 2010, 124 Stat. 1549, related to waiver and relaxation by insti- tutions and approved mortgagees of limitations with respect to mortgage delinquencies; notification to Fed- eral supervisory agency prior to foreclosure pro- ceedings. Section 2710, Pub. L. 94–50, title I, § 111, July 2, 1975, 89 Stat. 253; Pub. L. 94–375, § 13(c), Aug. 3, 1976, 90 Stat. 1075, related to reports to Congress; time; contents. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF REPEAL Repeal effective on the date on which final regula- tions implementing such repeal take effect, or on the date that is 18 months after the designated transfer date if such regulations have not been issued by that date, see section 1400(c) of Pub. L. 111–203, set out as an Effective Date of 2010 Amendment note under section 1601 of Title 15, Commerce and Trade. § 2711. Nonapplicability of other laws Notwithstanding any provision of law which limits the nature, amount, term, form, or rate of interest, or the nature, amount, or form of se- curity of loans or advances of credit, loans, or advances of credit may be made in accordance with the provisions of this chapter without re- gard to such provision of law. (Pub. L. 94–50, title I, § 110, formerly § 112, July 2, 1975, 89 Stat. 254; renumbered § 110, Pub. L. 111–203, title XIV, § 1496(b)(8), July 21, 2010, 124 Stat. 2209.) Editorial Notes PRIOR PROVISIONS A prior section 110 of Pub. L. 94–50, which related to waiver and relaxation by institutions and approved mortgagees of limitations with respect to mortgage de- linquencies; notification to Federal supervisory agency prior to foreclosure proceedings, was classified to sec- tion 2709 of this title prior to repeal by Pub. L. 111–203, title XIV, § 1496(b)(7), July 21, 2010, 124 Stat. 2209. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2010 AMENDMENT Amendment of section by renumbering section 112 of Pub. L. 94–50 as section 110 of Pub. L. 94–50 effective on the date on which final regulations implementing such amendment take effect, or on the date that is 18 months after the designated transfer date if such regu- lations have not been issued by that date, see section 1400(c) of Pub. L. 111–203, set out as a note under section 1601 of Title 15, Commerce and Trade. § 2712. Repealed. Pub. L. 111–203, title XIV, § 1496(b)(7), July 21, 2010, 124 Stat. 2209 Section, Pub. L. 94–50, title I, § 113, July 2, 1975, 89 Stat. 254, related to Federal Deposit Insurance Corpora- tion advances to insured banks. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF REPEAL Repeal effective on the date on which final regula- tions implementing such repeal take effect, or on the date that is 18 months after the designated transfer date if such regulations have not been issued by that date, see section 1400(c) of Pub. L. 111–203, set out as an Effective Date of 2010 Amendment note under section 1601 of Title 15, Commerce and Trade. CHAPTER 29—HOME MORTGAGE DISCLOSURE Sec. 2801. Congressional findings and declaration of pur- pose. 2802. Definitions. 2803. Maintenance of records and public disclosure. 2804. Enforcement. 2805. Relation to State laws. 2806. Compliance improvement methods. 2807. Report. 2808. Effective date. 2809. Compilation of aggregate data. 2810. Disclosure by Secretary; commencement, scope, etc. 2811. Repealed. § 2801. Congressional findings and declaration of purpose (a) Findings of Congress The Congress finds that some depository insti- tutions have sometimes contributed to the de- cline of certain geographic areas by their failure pursuant to their chartering responsibilities to provide adequate home financing to qualified applicants on reasonable terms and conditions. (b) Purpose of chapter The purpose of this chapter is to provide the citizens and public officials of the United States with sufficient information to enable them to determine whether depository institutions are filling their obligations to serve the housing needs of the communities and neighborhoods in which they are located and to assist public offi- cials in their determination of the distribution of public sector investments in a manner de- signed to improve the private investment envi- ronment. (c) Construction of chapter Nothing in this chapter is intended to, nor shall it be construed to, encourage unsound lending practices or the allocation of credit. (Pub. L. 94–200, title III, § 302, Dec. 31, 1975, 89 Stat. 1125.) Statutory Notes and Related Subsidiaries SHORT TITLE Pub. L. 94–200, title III, § 301, Dec. 31, 1975, 89 Stat. 1125, provided that: ‘‘This title [this chapter] may be cited as the ‘Home Mortgage Disclosure Act of 1975’.’’ Page 1463 TITLE 12—BANKS AND BANKING § 2803 1 So in original. Probably should be ‘‘paragraph (5)’’. § 2802. Definitions For purposes of this chapter— (1) the term ‘‘Bureau’’ means the Bureau of Consumer Financial Protection; (2) the term ‘‘mortgage loan’’ means a loan which is secured by residential real property or a home improvement loan; (3) the term ‘‘depository institution’’— (A) means— (i) any bank (as defined in section 1813(a)(1) of this title); (ii) any savings association (as defined in section 1813(b)(1) of this title); and (iii) any credit union, which makes federally related mortgage loans as determined by the Board; and (B) includes any other lending institution (as defined in paragraph (4) 1) other than any institution described in subparagraph (A); (4) the term ‘‘completed application’’ means an application in which the creditor has re- ceived the information that is regularly ob- tained in evaluating applications for the amount and type of credit requested; (5) the term ‘‘other lending institutions’’ means any person engaged for profit in the business of mortgage lending; (6) the term ‘‘Board’’ means the Board of Governors of the Federal Reserve System; and (7) the term ‘‘Secretary’’ means the Sec- retary of Housing and Urban Development. (Pub. L. 94–200, title III, § 303, Dec. 31, 1975, 89 Stat. 1125; Pub. L. 100–242, title V, § 565(a)(1), Feb. 5, 1988, 101 Stat. 1945; Pub. L. 101–73, title XII, § 1211(d), (e), Aug. 9, 1989, 103 Stat. 525; Pub. L. 111–203, title X, § 1094(2), July 21, 2010, 124 Stat. 2097.) Editorial Notes AMENDMENTS 2010—Pub. L. 111–203 added par. (1) and redesignated former pars. (1) to (6) as (2) to (7), respectively. 1989—Par. (2). Pub. L. 101–73, § 1211(d), amended par. (2) generally. Prior to amendment, par. (2) read as fol- lows: ‘‘the term ‘depository institution’ means any commercial bank, savings bank, savings and loan asso- ciation, building and loan association, homestead asso- ciation (including cooperative banks) or credit union which makes federally related mortgage loans as deter- mined by the Board, mortgage banking subsidiary of a bank holding company or savings and loan holding company, or savings and loan service corporation that originates or purchases mortgage loans;’’. Pars. (3) to (6). Pub. L. 101–73, § 1211(e), added pars. (3) and (4) and redesignated former pars. (3) and (4) as (5) and (6), respectively. 1988—Par. (2). Pub. L. 100–242 struck out ‘‘or’’ before ‘‘homestead association’’ and inserted before semicolon at end ‘‘, mortgage banking subsidiary of a bank hold- ing company or savings and loan holding company, or savings and loan service corporation that originates or purchases mortgage loans’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2010 AMENDMENT Amendment by Pub. L. 111–203 effective on the des- ignated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees. EFFECTIVE DATE OF 1989 AMENDMENT Pub. L. 101–73, title XII, § 1211(k), Aug. 9, 1989, 103 Stat. 526, provided that: ‘‘The amendments made by this section [amending this section and sections 2803, 2804, 2807, and 2810 of this title] shall apply to each cal- endar year beginning after December 31, 1989.’’ EFFECTIVE DATE OF 1988 AMENDMENT Pub. L. 100–242, title V, § 565(a)(4), Feb. 5, 1988, 101 Stat. 1945, as amended by Pub. L. 100–628, title X, § 1087(a), Nov. 7, 1988, 102 Stat. 3280, provided that: ‘‘The amendments made by this subsection [amending sec- tions 2802, 2803, and 2810 of this title] shall be applicable to the portion of calendar year 1988 that begins August 19, 1988, and to each calendar year beginning after De- cember 31, 1988.’’ § 2803. Maintenance of records and public disclo- sure (a) Duty of depository institutions; nature and content of information (1) Each depository institution which has a home office or branch office located within a primary metropolitan statistical area, metro- politan statistical area, or consolidated metro- politan statistical area that is not comprised of designated primary metropolitan statistical areas, as defined by the Department of Com- merce shall compile and make available, in ac- cordance with regulations of the Bureau, to the public for inspection and copying at the home office, and at least one branch office within each primary metropolitan statistical area, metro- politan statistical area, or consolidated metro- politan statistical area that is not comprised of designated primary metropolitan statistical areas in which the depository institution has an office the number and total dollar amount of mortgage loans which were (A) originated (or for which the institution received completed appli- cations), or (B) purchased by that institution during each fiscal year (beginning with the last full fiscal year of that institution which imme- diately preceded the effective date of this chap- ter). (2) The information required to be maintained and made available under paragraph (1) shall also be itemized in order to clearly and con- spicuously disclose the following: (A) The number and dollar amount for each item referred to in paragraph (1), by census tracts for mortgage loans secured by property located within any county with a population of more than 30,000, within that primary met- ropolitan statistical area, metropolitan statis- tical area, or consolidated metropolitan sta- tistical area that is not comprised of des- ignated primary metropolitan statistical areas, otherwise, by county, for mortgage loans secured by property located within any other county within that primary metropoli- tan statistical area, metropolitan statistical area, or consolidated metropolitan statistical area that is not comprised of designated pri- mary metropolitan statistical areas. (B) The number and dollar amount for each item referred to in paragraph (1) for all such mortgage loans which are secured by property located outside that primary metropolitan statistical area, metropolitan statistical area, or consolidated metropolitan statistical area