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124 STAT. 2172 PUBLIC LAW 111–203—JULY 21, 2010

(5) by inserting after paragraph (2) the following new para-
graphs:
‘‘(3) REQUIREMENT UNDER HUD PROGRAMS.—Any homeown-
ership counseling or rental housing counseling (as such terms
are defined in subsection (g)(1)) required under, or provided
in connection with, any program administered by the Depart-
ment of Housing and Urban Development shall be provided
only by organizations or counselors certified by the Secretary
under this subsection as competent to provide such counseling.
‘‘(4) OUTREACH.—The Secretary shall take such actions as
the Secretary considers appropriate to ensure that individuals
and organizations providing homeownership or rental housing
counseling are aware of the certification requirements and
standards of this subsection and of the training and certification
programs under subsection (f).’’.

SEC. 1446. STUDY OF DEFAULTS AND FORECLOSURES.
The Secretary of Housing and Urban Development shall conduct
an extensive study of the root causes of default and foreclosure
of home loans, using as much empirical data as are available.
The study shall also examine the role of escrow accounts in helping
prime and nonprime borrowers to avoid defaults and foreclosures,
and the role of computer registries of mortgages, including those
Deadlines. used for trading mortgage loans. Not later than 12 months after
Reports. the date of the enactment of this Act, the Secretary shall submit
to the Congress a preliminary report regarding the study. Not
later than 24 months after such date of enactment, the Secretary
shall submit a final report regarding the results of the study,
which shall include any recommended legislation relating to the
study, and recommendations for best practices and for a process
to identify populations that need counseling the most.

12 USC 1701p–2. SEC. 1447. DEFAULT AND FORECLOSURE DATABASE.
Public (a) ESTABLISHMENT.—The Secretary of Housing and Urban
information. Development and the Director of the Bureau, in consultation with
the Federal agencies responsible for regulation of banking and
financial institutions involved in residential mortgage lending and
servicing, shall establish and maintain a database of information
on foreclosures and defaults on mortgage loans for one- to four-
unit residential properties and shall make such information publicly
available, subject to subsection (e).
(b) CENSUS TRACT DATA.—Information in the database may
be collected, aggregated, and made available on a census tract
basis.
(c) REQUIREMENTS.—Information collected and made available
through the database shall include—
(1) the number and percentage of such mortgage loans
that are delinquent by more than 30 days;
(2) the number and percentage of such mortgage loans
that are delinquent by more than 90 days;
(3) the number and percentage of such properties that
are real estate-owned;
(4) number and percentage of such mortgage loans that
are in the foreclosure process;
(5) the number and percentage of such mortgage loans

LAWS that have an outstanding principal obligation amount that is greater than the value of the property for which the loan was made; andPUBLIC with on anorris VerDate Nov 24 2008 18:46 Sep 08, 2010 Jkt 089139 PO 00203 Frm 00798 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL203.111 PUBL203