AMENDMENTS TO THE HOME MORTGAGE DISCLOSURE ACT OF 1975.

SEC. 1094. AMENDMENTS TO THE HOME MORTGAGE DISCLOSURE ACT OF 1975. The Home Mortgage Disclosure Act of 1975 (12 U.S.C. 2801 et seq.) is amended—(1) by striking “Board” each place that term appears, other than in sections 303, 304(h), 305(b) (as amended by this section), and 307(a) (as amended by this section) and inserting “Bureau”.(2) in section 303 (12 U.S.C. 2802)—(A) by redesignating paragraphs (1) through (6) as paragraphs (2) through (7), respectively; and(B) by inserting before paragraph (2) the following:“(1) the term ‘Bureau’ means the Bureau of Consumer Financial Protection;”;(3) in section 304 (12 U.S.C. 2803)—(A) in subsection (b)—(i) in paragraph (4), by inserting “age,” before “and gender”;(ii) in paragraph (3), by striking “and” at the end;(iii) in paragraph (4), by striking the period at the end and inserting a semicolon; and(iv) by adding at the end the following:“(5) the number and dollar amount of mortgage loans grouped according to measurements of—“(A) the total points and fees payable at origination in connection with the mortgage as determined by the Bureau, taking into account 15 U.S.C. 1602(aa)(4);“(B) the difference between the annual percentage rate associated with the loan and a benchmark rate or rates for all loans;“(C) the term in months of any prepayment penalty or other fee or charge payable on repayment of some portion of principal or the entire principal in advance of scheduled payments; and“(D) such other information as the Bureau may require; and“(6) the number and dollar amount of mortgage loans and completed applications grouped according to measurements of—“(A) the value of the real property pledged or proposed to be pledged as collateral;“(B) the actual or proposed term in months of any introductory period after which the rate of interest may change;“(C) the presence of contractual terms or proposed contractual terms that would allow the mortgagor or applicant to make payments other than fully amortizing payments during any portion of the loan term;124 STAT. 2098“(D) the actual or proposed term in months of the mortgage loan;“(E) the channel through which application was made, including retail, broker, and other relevant categories;“(F) as the Bureau may determine to be appropriate, a unique identifier that identifies the loan originator as set forth in section 1503 of the S.A.F.E. Mortgage Licensing Act of 2008;“(G) as the Bureau may determine to be appropriate, a universal loan identifier;“(H) as the Bureau may determine to be appropriate, the parcel number that corresponds to the real property pledged or proposed to be pledged as collateral;“(I) the credit score of mortgage applicants and mortgagors, in such form as the Bureau may prescribe; and“(J) such other information as the Bureau may require.”;(B) by striking subsection (h) and inserting the following:“(h) Submission to Agencies.—“(1) In general.—The data required to be disclosed under subsection (b) shall be submitted to the Bureau or to the appropriate agency for the institution reporting under this title, in accordance with rules prescribed by the Bureau. Notwithstanding the requirement of subsection (a)(2)(A) for disclosure by census tract, the Bureau, in consultation with other appropriate agencies described in paragraph (2) and, after notice and comment, shall develop regulations that—“(A) prescribe the format for such disclosures, the method for submission of the data to the appropriate agency, and the procedures for disclosing the information to the public;“(B) require the collection of data required to be disclosed under subsection (b) with respect to loans sold by each institution reporting under this title;“(C) require disclosure of the class of the purchaser of such loans;“(D) permit any reporting institution to submit in writing to the Bureau or to the appropriate agency such additional data or explanations as it deems relevant to the decision to originate or purchase mortgage loans; and“(E) modify or require modification of itemized information, for the purpose of protecting the privacy interests of the mortgage applicants or mortgagors, that is or will be available to the public.“(2) Other appropriate agencies.—The appropriate agencies described in this paragraph are—“(A) the appropriate Federal banking agencies, as defined in section 3(q) of the Federal Deposit Insurance Act (12 U.S.C. 1813(q)), with respect to the entities that are subject to the jurisdiction of each such agency, respectively;“(B) the Federal Deposit Insurance Corporation for banks insured by the Federal Deposit Insurance Corporation (other than members of the Federal Reserve System), mutual savings banks, insured State branches of foreign banks, and any other depository institution described in 124 STAT. 2099 section 303(2)(A) which is not otherwise referred to in this paragraph;“(C) the National Credit Union Administration Board with respect to credit unions; and“(D) the Secretary of Housing and Urban Development with respect to other lending institutions not regulated by the agencies referred to in subparagraph (A) or (B).“(3) Rules for modifications under paragraph (1).—“(A) Application.—A modification under paragraph (1)(E) shall apply to information concerning—“(i) credit score data described in subsection (b)(6)(I), in a manner that is consistent with the purpose described in paragraph (1)(E); and“(ii) age or any other category of data described in paragraph (5) or (6) of subsection (b), as the Bureau determines to be necessary to satisfy the purpose described in paragraph (1)(E), and in a manner consistent with that purpose.“(B) Standards.—The Bureau shall prescribe standards for any modification under paragraph (1)(E) to effectuate the purposes of this title, in light of the privacy interests of mortgage applicants or mortgagors. Where necessary to protect the privacy interests of mortgage applicants or mortgagors, the Bureau shall provide for the disclosure of information described in subparagraph (A) in aggregate or other reasonably modified form, in order to effectuate the purposes of this title.”;(C) in subsection (i), by striking “subsection (b)(4)” and inserting “subsections (b)(4), (b)(5), and (b)(6)”;(D) in subsection (j)—(i) by striking paragraph (3) and inserting the following:“(3) Change of form not required.—A depository institution meets the disclosure requirement of paragraph (1) if the institution provides the information required under such paragraph in such formats as the Bureau may require”; and(ii) in paragraph (2)(A), by striking “in the format in which such information is maintained by the institution” and inserting “in such formats as the Bureau may require”;(E) in subsection (m), by striking paragraph (2) and inserting the following:“(2) Form of information.—In complying with paragraph (1), a depository institution shall provide the person requesting the information with a copy of the information requested in such formats as the Bureau may require.”; and(F) by adding at the end the following:“(n) Timing of Certain Disclosures.—The data required to be disclosed under subsection (b) shall be submitted to the Bureau or to the appropriate agency for any institution reporting under this title, in accordance with regulations prescribed by the Bureau. Institutions shall not be required to report new data under paragraph (5) or (6) of subsection (b) before the first January 1 that occurs after the end of the 9-month period beginning on the date on which regulations are issued by the Bureau in final form with respect to such disclosures.”;(4) in section 305 (12 U.S.C. 2804)—124 STAT. 2100(A) by striking subsection (b) and inserting the following:“(b) Powers of Certain Other Agencies.—“(1) In general.—Subject to subtitle B of the Consumer Financial Protection Act of 2010, compliance with the requirements of this title shall be enforced—“(A) under section 8 of the Federal Deposit Insurance Act, the appropriate Federal banking agency, as defined in section 3(q) of the Federal Deposit Insurance Act (12 U.S.C. 1813(q)), with respect to—“(i) any national bank or Federal savings association, and any Federal branch or Federal agency of a foreign bank;“(ii) any member bank of the Federal Reserve System (other than a national bank), branch or agency of a foreign bank (other than a Federal branch, Federal agency, and insured State branch of a foreign bank), commercial lending company owned or controlled by a foreign bank, and any organization operating under section 25 or 25A of the Federal Reserve Act; and“(iii) any bank or State savings association insured by the Federal Deposit Insurance Corporation (other than a member of the Federal Reserve System), any mutual savings bank as, defined in section 3(f) of the Federal Deposit Insurance Act (12 U.S.C. 1813(f)), any insured State branch of a foreign bank, and any other depository institution not referred to in this paragraph or subparagraph (B) or (C);“(B) under subtitle E of the Consumer Financial Protection Act of 2010, by the Bureau, with respect to any person subject to this subtitle;“(C) under the Federal Credit Union Act, by the Administrator of the National Credit Union Administration with respect to any insured credit union; and“(D) with respect to other lending institutions, by the Secretary of Housing and Urban Development.“(2) Incorporated definitions.—The terms used in paragraph (1) that are not defined in this title or otherwise defined in section 3(s) of the Federal Deposit Insurance Act (12 U.S.C. 1813(s)) shall have the same meanings as in section 1(b) of the International Banking Act of 1978 (12 U.S.C. 3101).”; and(B) by adding at the end the following:“(d) Overall Enforcement Authority of the Bureau of Consumer Financial Protection.—Subject to subtitle B of the Consumer Financial Protection Act of 2010, enforcement of the requirements imposed under this title is committed to each of the agencies under subsection (b). To facilitate research, examinations, and enforcement, all data collected pursuant to section 304 shall be available to the entities listed under subsection (b). The Bureau may exercise its authorities under the Consumer Financial Protection Act of 2010 to exercise principal authority to examine and enforce compliance by any person with the requirements of this title.”;(5) in section 306 (12 U.S.C. 2805(b)), by striking subsection (b) and inserting the following:“(b) Exemption Authority.—The Bureau may, by regulation, exempt from the requirements of this title any State-chartered 124 STAT. 2101 depository institution within any State or subdivision thereof, if the agency determines that, under the law of such State or subdivision, that institution is subject to requirements that are substantially similar to those imposed under this title, and that such law contains adequate provisions for enforcement. Notwithstanding any other provision of this subsection, compliance with the requirements imposed under this subsection shall be enforced by the Office of the Comptroller of the Currency under section 8 of the Federal Deposit Insurance Act, in the case of national banks and Federal savings associations, the deposits of which are insured by the Federal Deposit Insurance Corporation.”; and(6) by striking section 307 (12 U.S.C. 2806) and inserting the following:“SEC. 307. COMPLIANCE IMPROVEMENT METHODS.“(a) In General.—“(1) Consultation required.—The Director of the Bureau of Consumer Financial Protection, with the assistance of the Secretary, the Director of the Bureau of the Census, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and such other persons as the Bureau deems appropriate, shall develop or assist in the improvement of, methods of matching addresses and census tracts to facilitate compliance by depository institutions in as economical a manner as possible with the requirements of this title.“(2) Authorization of appropriations.—There are authorized to be appropriated, such sums as may be necessary to carry out this subsection.“(3) Contracting authority.—The Director of the Bureau of Consumer Financial Protection is authorized to utilize, contract with, act through, or compensate any person or agency in order to carry out this subsection.“(b) Recommendations to Congress.—The Director of the Bureau of Consumer Financial Protection shall recommend to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives, such additional legislation as the Director of the Bureau of Consumer Financial Protection deems appropriate to carry out the purpose of this title.” .