MANAGEMENT ENHANCEMENT GOALS.

SEC. 301. MANAGEMENT ENHANCEMENT GOALS. Section 21A of the Federal Home Loan Bank Act (12 U.S.C. 1441a) is amended by adding at the end the following new subsection: “(r) Management Enhancement Goals.— “(1) Action to achieve specific goals.— The Corporation, upon the enactment of this subsection, shall take action to assure achievement of the management goals specified in this paragraph, as follows: “(A) Managing conservatorships.— The Corporation shall standardize procedures with respect to its (i) auditing of conservatorships, (ii) ensuring and monitoring of compliance with Corporation policies and procedures by conservatorship managing agents, and (iii) ensuring and monitoring of conservatorship managing agent performance. These procedures shall be developed and implemented not later than September 30, 1991. “(B) Pace of resolutions.— The Corporation shall take all reasonable and necessary steps to reduce the length of time institutions remain in conservatorship, with the goal that no institution shall be in conservatorship for more than 9 months. “(C) Information resources management program.— The Corporation shall develop and incorporate within its strategic plan for information resources management, (i) a translation of program goals into the communication and computer hardware and software, and staff needed to accomplish such goals, (ii) a systems architecture to ensure that all systems will work together, and (iii) an identification of Corporation information and systems needs at all operational levels. “(D) Securities portfolio management system.— The Corporation shall develop within its information architecture framework, a centralized system for the management 105 STAT. 64of its portfolio of securities. This system shall be developed and implemented not later than September 30, 1991. “(E) Tracking reo assets.— The Corporation shall develop, within its information architecture, an effective system to track and inventory real-estate-owned assets. This system shall be developed and implemented not later than September 30, 1991. “(F) Asset valuation.— The Corporation shall develop a process for the quarterly valuation or updating of valuations of the assets it holds in its capacity as receiver (or as a result of such capacity). Such process shall incorporate, to the extent practical, Corporation disposition experience. In addition, the necessary information systems shall be developed to track and manage these valuations. “(G) Standardization of due diligence and market format.— The Corporation shall develop a program for performing due diligence on one- to four-family mortgages and for marketing such loans on a pooled basis. “(H) Contracting.— The Corporation, in order to identify the need for any changes in its contracting process which would enhance the independence, integrity, consistency and effectiveness of that process, shall consult on a regular basis with other agencies and organizations that have large scale contracting and procurement systems, and shall review on a regular basis its organizational structure and relationships. The Corporation shall develop and have in widespread use the following: “(i) A manual setting forth comprehensive policies and procedures. “(ii) A revised and expanded directive that clearly and definitively describes the roles and responsibilities of all those involved in the contracting process. “(iii) A revised and expanded directive that sets forth in detail the standard procedures to be followed in evaluating contractor proposals. “(iv) A set of standardized solicitation and contract documents for use by all Corporation officers. “(v) A series of standardized contracting training modules for use by Corporation personnel and private contractors. “(2) The Corporation shall, not later than September 30, 1991, file with the Committee on Banking, Housing, and Urban Affairs of the Senate, and the Committee on Banking, Finance and Urban Affairs of the House of Representatives, a report on the progress being made toward full compliance by the agency with this subsection, as well as a timetable for completing those items not yet completed.”.