STUDY AND REPORT ON DEFAULT RISK EVALUATION.

SEC. 1602. STUDY AND REPORT ON DEFAULT RISK EVALUATION.(a) Study.—The Director shall conduct a study of ways to improve the overall default risk evaluation used with respect to residential mortgage loans. Particular attention shall be paid to the development and utilization of processes and technologies that provide a means to standardize the measurement of risk.(b) Report.—The Director shall submit a report on the study conducted under this section to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives, not later than 1 year after the date of enactment of this Act.