,,ii #aaith ,,congress #b;d ,session ,s4 #cgec ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,january #cj1 #bjbf,mr4 ,reed 7for himself1 ,ms4 ,smith1 ,mr4 ,wyden1 ,mr4 ,schumer1 and ,mr4 ,merkley7 introduced the following bill2 which was read twice and referred to the ,committee on ,banking1 ,housing1 and ,urban ,affairs ,a ,,bill ,to provide requirements for the bulk auction or group sale of certain non-performing loans1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,preserving ,homes and ,communities ,act of #bjbf4 #b4 ,sale of ,,fha non-performing single family mortgage loans 7a7 ,in general ,title ,,ii of the ,national ,housing ,act 7#ab ,u4,s4,c4 #agjg et seq47 is amended by adding at the end the following3 #bei4 ,sale of non-performing single family mortgage loans 7a7 ,single family sales ,the ,secretary may conduct sales of #a or more single family non-performing residential mortgage loans insured under this title only if the following requirements are met3 7#a7 ,the ,secretary determines that no other reasonable measures other than a sale are available to restore the ,fund to1 or keep the ,fund above1 the minimum capital requirements under section #bje7;f77#d74 7#b7 ,the ,secretary establishes a system that provides priority to ,federal1 ,state1 local1 or ,tribal governments or nonprofit organizations that have the capacity and experience required for buying1 servicing1 and resolving single family mortgage loans in a manner that promotes affordable housing1 fair housing1 affordable homeownership1 housing counseling1 or neighborhood stabilization4 7#c7 ,applicable loss mitigation required under section #bcj is exhausted before any loan is placed into the loan sale4 7#d7 ,clear1 written notice is sent by certified and first-class mail by the servicer to the borrower of the loan1 all owners of record1 and any applicable estate of the borrower with a copy sent to the ,secretary1 not less than #ij days before the inclusion of the loan in any single family sale-- 7,a7 stating that the loan will be included in a single family sale of non-performing loans2 and 7,b7 describing the sale process1 including-- 7i7 the loss mitigation or other protections available to the borrower and other owners of record both before and after the sale2 7ii7 the status of any loss mitigation actions offered by the mortgagee with respect to the loan1 including decisions on all loss mitigation reviews1 descriptions of any loss mitigation options offered or denied1 and supporting documentation for the most recent evaluation2 and 7iii7 the obligations of the servicer of the loan before and after the sale1 including loss mitigation requirements4 7#e7 ,purchasers take loans subject to the following requirements3 7,a7 ,the provision of loss mitigation options to all eligible borrowers that offer terms and protections at least as favorable as those available under loss mitigation guidelines of the ,federal ,housing ,administration1 including the absence of fees for loss mitigation and loan modifications that reduce payments to an affordable level4 7,b7 ,the provision of a deferral program that offers terms and protections at least as favorable as those provided by a partial claim available under loss mitigation guidelines of the ,federal ,housing ,administration1 including the absence of fees1 to borrowers who can afford their pre-hardship mortgage payment4 7,c7 ,written1 public disclosure of post-sale loss mitigation options4 7,d7 ,failure by the purchaser to follow the established loss mitigation guidelines shall serve as a defense to a judicial foreclosure and a basis to enjoin or otherwise stay a non-judicial foreclosure4 7,e7 ,data reporting as provided under subsection 7d77#a74 7,f7 ,maintenance of vacant and abandoned property1 including the payment of local property taxes1 until such time as title is transferred to a nonprofit organization or the property is sold to a bona fide third-party purchaser4 7,g7 ,where a property becomes vacant1 the purchaser shall not release the lien until the property is sold or donated4 7,h7 ,use of contract for deed1 lease to own1 or a land installment contract to sell or otherwise transfer any property that is secured by a purchased loan shall be prohibited unless the tenant or purchaser is a nonprofit organization4 7,i7 ,for all non-performing loans where a home retention loss mitigation option is not possible and the purchaser acquires the property through foreclosure sale1 #ge percent of those properties shall be-- 7i7 sold at the current fair market value to an owner occupant2 7ii7 sold or donated to a non-profit or local government entity that will commit to #a of the outcomes described in clause 7i7 or 7iii72 7iii7 for not less than the #aj-year period beginning on the date on which any entity initially leases the property1 and with respect to any new lease beginning within such #aj-year period1 leased to a tenant with income that is not more than #ajj percent of the area median income at the time the tenant initially leases the property1 with monthly rents that are not more than #cj percent of the monthly household income1 provided that the property owner accepts as rental payment any legal source of income1 including-- 7,i7 a housing voucher under section #h of the ,united ,states ,housing ,act of #aicg 7#db ,u4,s4,c4 #adcg;f7 and any form of ,federal1 ,state1 or local housing assistance provided to a person or family or provided to a housing owner on behalf of a person or family1 including-- 7aa7 rental vouchers2 7bb7 rental assistance2 7cc7 rental subsidies from nongovernmental organizations2 and 7dd7 homeownership subsidies2 7,,ii7 income received as a monthly benefit under title ,,ii of the ,social ,security ,act 7#db ,u4,s4,c4 #dja et seq471 as a supplemental security income benefit under title ,,xvi of the ,social ,security ,act 7#db ,u4,s4,c4 #acha et seq471 or as a benefit under the ,railroad ,retirement ,act of #aigd 7#de ,u4,s4,c4 #bca et seq471 including any such benefit to which the individual is entitled for which payment is made to a representative payee2 7,,iii7 income received by court order1 including spousal support and child support2 7,,iv7 any payment from a trust1 guardian1 conservator1 cosigner1 or relative2 and 7,v7 any other lawful source of income or funds1 including savings accounts and investments2 or 7iv7 for any property that is not habitable1 demolished or donated to a land bank with a cash donation to cover demolition costs4 7b7 ,direct loan sales ,the ,secretary may permit direct loan sales of single family non-performing residential loans insured under this title only if-- 7#a7 the loans are sold to municipalities1 land banks1 or nonprofit organizations that work in affordable housing1 housing counseling1 or neighborhood stabilization2 7#b7 the purchaser complies with the requirements under paragraph 7#e7 of subsection 7a72 and 7#c7 the pricing reasonably reflects the costs of complying with the requirements under paragraphs 7#c7 through 7#e7 of subsection 7a74 7c7 ,forbearance ,the ,secretary may not sell-- 7#a7 a single family non-performing residential loan insured under this ,title while the loan is in a forbearance plan4 7#b7 a single family non-performing residential loan insured under this title that is not more than #ij days from the end of a forbearance plan4 7d7 ,data and reporting 7#a7 ,purchaser reporting ,during the #d-year period following any single family sale of non-performing residential single family mortgage loans under subsection 7a7 or 7b71 the ,secretary shall require each purchaser of such a loan1 including any subsequent purchaser of the loan1 to provide to the ,secretary quarterly loan-level data regarding the treatment and outcome of the loan1 including-- 7,a7 loan characteristics1 including loan type1 remaining loan term1 loan to value ratio1 number of months in arrears1 loss mitigation status1 and foreclosure status at time of sale2 7,b7 loss mitigation data1 including whether loss mitigation was provided by the purchaser1 debt-to-income ratio and percent payment reduction for any modified loans1 foreclosures begun or completed1 and performance of modified loans2 7,c7 demographic data for the borrower and any co-borrower1 including race1 national origin1 sex1 ,,zip ,code1 and census tract1 and1 if available1 disability status and veteran status2 and 7,d7 other purchaser actions1 including charge offs and resales of loans and dates for such actions4 7#b7 ,semiannual reports to ,congress ,the ,secretary shall submit to ,congress1 and make publicly available at no cost to the public in a format that is readily accessible on the website of the ,department of ,housing and ,urban ,development1 semi-annual reports to ,congress on-- 7,a7 loans sold in a single family sale under subsection 7a71 disaggregated by pool1 including-- 7i7 the number of loans and types of loans2 7ii7 mean and median delinquency and loan to value ratios at the time of the sale2 7iii7 the number and percentage of owner-occupied properties2 7iv7 the number and percentage of loans modified prior to the sale2 7v7 the number and percentage of loans in foreclosure proceedings at the time of the sale2 and 7vi7 demographic and geographic data1 including property locations by census tract or larger geographic location if necessary to protect personally identifiable information2 7,b7 the performance of loans after a single family sale under subsection 7a71 disaggregated by loan pool1 including the initial purchaser1 current owner1 current servicer1 data summarizing any alternatives to foreclosure offered and enacted1 and data summarizing the data collected under paragraph 7#a72 7,c7 the results of a fair lending analysis conducted based on the data in paragraph 7#a7 to identify any discriminatory impacts or outcomes associated with the sales2 and 7,d7 claims paid through the ,claims ,without ,conveyance of ,title program under section #bjd7;a77#a77;,c71 including the number of third party sales by ,,zip ,code1 whether purchasers are owner-occupants1 nonprofit organizations1 government entities1 or investors1 and the source of funds or financing used by purchasers4 7e7 ,penalties for noncompliance ,the ,secretary may-- 7#a7 forcibly retain loans or properties1 without providing compensation1 from purchasers that do not meet the requirements under subsection 7a77#e72 and 7#b7 enact additional penalties for purchasers described in paragraph 7#a7 that the ,secretary determines have repeatedly not complied with the requirements under subsection 7a77#e71 including monetary penalties and prohibition from participating in single family sales under this section4 7f7 ,regulations ,the ,secretary shall issue regulations related to single family sales in accordance with the requirements in this section4 #bfj4 ,claims without conveyance of title first look program 7a7 ,claims without conveyance of title first look program ,with respect to a third party sale of properties foreclosed upon and put up for sale in accordance with section #bjd7;a77#a77;,c71 the ,secretary shall maintain an exclusive right for eligible buyers to purchase these properties at a price at or below the fair market value of the property 7with appropriate adjustments7 for a specified period of time at the start of post-foreclosure sale efforts4 7b7 ,eligible buyers ,the right to purchase a property under subsection 7a7 shall be offered to-- 7#a7 homebuyers who will occupy the property as a principal residence2 7#b7 nonprofit organizations that-- 7,a7 commit in advance to rehabilitate the property and dispose of the property for an allowable use and within a time period to be designated by the ,secretary by regulation2 7,b7 are pre-approved for participation by the ,secretary or a designee thereof to ensure that the organization-- 7i7 maintains active tax-exempt status under section #eja7;c77#c7 of the ,internal ,revenue ,code2 7ii7 has a primary mission related to-- 7,i7 affordable housing2 or 7,,ii7 community revitalization through housing-related activities2 and 7iii7 has demonstrated not less than #b years of direct experience with real estate project development as an organizational entity2 and 7#c7 ,federal1 ,state1 local1 or ,tribal government agencies or instrumentalities that meet the requirements of subparagraph 7,a7 and clauses 7ii7 and 7iii7 of subparagraph 7,b7 of paragraph 7#b74 7c7 ,allowable uses ,an allowable use described in this subsection shall include-- 7#a7 renovation and sale1 or1 if the property already meets the minimum property standards set by the ,assistant ,secretary for ,housing and ,federal ,housing ,commissioner1 sale without renovation1 to an owner-occupant with an income that is not more than #abj percent of the area median income2 7#b7 renovation and creation of affordable homeownership or1 if the property already meets the minimum property standards set by the ,assistant ,secretary for ,housing and ,federal ,housing ,commissioner1 creation of affordable homeownership without renovation1 by a community land trust or shared equity homeownership program2 7#c7 renovation and rental to tenants with an income that is not more than #ajj percent of the area median income at the time the tenant initially leases the property1 with monthly rents that are not more than #cj percent of the monthly household income1 for not less than the #aj-year period beginning on the date on which any entity initially leases the property1 and with respect to any new lease beginning within such #aj-year period1 provided that the property owner accepts as rental payment any legal source of income1 including-- 7,a7 a housing voucher under section #h of the ,united ,states ,housing ,act of #aicg 7#db ,u4,s4,c4 #adcg;f7 and any form of ,federal1 ,state1 or local housing assistance provided to a person or family or provided to a housing owner on behalf of a person or family1 including-- 7i7 rental vouchers2 7ii7 rental assistance2 7iii7 rental subsidies from nongovernmental organizations2 and 7iv7 homeownership subsidies2 7,b7 income received as a monthly benefit under title ,,ii of the ,social ,security ,act 7#db ,u4,s4,c4 #dja et seq471 as a supplemental security income benefit under title ,,xvi of the ,social ,security ,act 7#db ,u4,s4,c4 #acha et seq471 or as a benefit under the ,railroad ,retirement ,act of #aigd 7#de ,u4,s4,c4 #bca et seq471 including any such benefit to which the individual is entitled for which payment is made to a representative payee2 7,c7 income received by court order1 including spousal support and child support2 7,d7 any payment from a trust1 guardian1 conservator1 cosigner1 or relative2 and 7,e7 any other lawful source of income or funds1 including savings accounts and investments2 and 7#d7 demolition1 but only if the property is vacant or uninhabitable and if the demolition is part of a strategy that incorporates rehabilitation1 new construction1 or designation of the land for use as a public amenity4 7d7 ,reporting requirements 7#a7 ,in general ,each purchaser of a property under this section1 other than an owner-occupant1 shall1 on an annual basis until the purchaser completes the allowable use of the property under subsection 7c71 report to the ,secretary-- 7,a7 the start date and completion date of any rehabilitation2 7,b7 the scope of work for and the total cost of any rehabilitation2 7,c7 the end-use of the property1 including sale to owner-occupant1 use in a land trust or other shared equity program1 or affordable rental2 7,d7 the demographics of the end-user of the property1 whether an owner-occupant or a tenant1 including race1 national origin1 sex1 ,,zip ,code1 and census tract1 and1 if available1 disability status and veteran status2 and 7,e7 the approximate income of the end-user of the property expressed as a percentage of the area median income4 7#b7 ,availability ,the ,secretary shall1 on an annual basis1 make the information collected under paragraph 7#a7 publicly available at no cost to the public in a readily accessible format on the website of the ,department of ,housing and ,urban ,development4 7e7 ,use of third party vendors ,the ,secretary may contract with a third-party vendor to assist in carrying out the provisions of this section1 including to-- 7#a7 pre-approve nonprofit organizations for participation in the ,claims ,without ,conveyance of ,title ,first ,look program2 7#b7 monitor compliance with allowable uses and time periods designated by the ,secretary by regulation2 and 7#c7 facilitate reporting to the ,secretary4 7f7 ,access ,the ,secretary shall ensure that any eligible buyer seeking to purchase a property under this section can easily access and inspect the property prior to making a commitment to purchase the property4 4 7b7 ,regulations ,not later than #ah months after the date of enactment of this ,act1 the ,secretary of ,housing and ,urban ,development shall promulgate regulations to carry out the amendments made by this section4 #c4 ,sale of ,fannie ,mae and ,freddie ,mac non-performing loans ,the ,federal ,housing ,enterprises ,financial ,safety and ,soundness ,act of #aiib 7#ab ,u4,s4,c4 #deja et seq47 is amended by inserting after section #acbh 7#ab ,u4,s4,c4 #dedh7 the following3 #acbi4 ,sale of non-performing loans 7a7 ,bulk auction or group sales ,an enterprise may not conduct bulk auctions or other group sales of single family non-performing residential loans unless the following requirements are met3 7#a7 ,the enterprise establishes a system that provides priority to ,federal1 ,state1 local1 or ,tribal governments or nonprofit organizations that have the capacity and experience required for buying1 servicing1 and resolving single family mortgage loans in a manner that promotes affordable housing1 fair housing1 affordable homeownership1 provision of housing counseling1 or neighborhood stabilization4 7#b7 ,applicable loss mitigation is exhausted before a loan may be placed into the bulk auction or group sale4 7#c7 ,clear1 written notice is sent by the enterprise or servicer through certified and first-class mail to the borrower and all owners of record1 with a copy sent to the enterprise if sent by the servicer1 not less than #ij days before the inclusion of the loan in any proposed sale-- 7,a7 stating that the loan will be included in a bulk auction or group sale of non-performing loans2 and 7,b7 describing the bulk auction or group sale process1 including-- 7i7 the loss mitigation or other protections available to the borrower and other owners of record both before and after the auction or sale2 7ii7 the status of any loss mitigation actions offered by the mortgagee with respect to the loan1 including decisions on all loss mitigation reviews1 descriptions of any loss mitigation options offered or denied1 and supporting documentation for the most recent evaluation2 and 7iii7 the obligations of the servicer of the loan before and after the auction or sale1 including loss mitigation requirements4 7#d7 ,the enterprise requires in the terms of the bulk auction or group sale that purchasers take loans subject to the following requirements3 7,a7 ,the purchaser is required to provide loss mitigation options to all eligible borrowers that offer terms and protections at least as favorable as those available under loss mitigation guidelines of the enterprise1 including the absence of fees for loss mitigation and loan modifications that reduce payments to an affordable level4 7,b7 ,the purchaser is required to offer a deferral program that offers terms and protections at least as favorable as those available under loss mitigation guidelines of the enterprise1 including the absence of fees1 to borrowers who can afford their pre-hardship mortgage payment4 7,c7 ,the purchaser is required to provide written1 public disclosure of post-sale loss mitigation options that the purchaser makes available to eligible borrowers4 7,d7 ,failure by the purchaser to follow the established loss mitigation guidelines shall serve as a defense to a judicial foreclosure and a basis to enjoin or otherwise stay a non-judicial foreclosure4 7,e7 ,data reporting as provided under subsection 7c77#a74 7,f7 ,if a property becomes vacant1 the purchaser shall not release the lien until the property is sold or donated4 7,g7 ,use of contract for deed1 lease to own1 or a land installment contract to sell or otherwise transfer any property that is secured by a purchased loan shall be prohibited unless the tenant or purchaser is a nonprofit organization4 7,h7 ,for all non-performing loans where a home-retention loss mitigation option is not possible and the purchaser acquires the property through foreclosure sale1 #ge percent of those properties shall be-- 7i7 sold at the current fair market value to an owner-occupant2 7ii7 sold or donated to a nonprofit or local government entity that will commit to #a of the outcomes described in clause 7i7 or 7iii72 7iii7 for not less than the #aj-year period beginning on the date on which any entity initially leases the property1 and with respect to any new lease beginning within such #aj-year period1 leased to a tenant with an income that is not more than #ajj percent of the area median income at the time the tenant initially leases the property1 with monthly rents that are not more than #cj percent of the monthly household income1 provided that the property owner accepts as rental payment any legal source of income1 including-- 7,i7 a housing voucher under section #h of the ,united ,states ,housing ,act of #aicg 7#db ,u4,s4,c4 #adcg;f7 and any form of ,federal1 ,state1 or local housing assistance provided to a person or family or provided to a housing owner on behalf of a person or family1 including-- 7aa7 rental vouchers2 7bb7 rental assistance2 7cc7 rental subsidies from nongovernmental organizations2 and 7dd7 homeownership subsidies2 7,,ii7 income received as a monthly benefit under title ,,ii of the ,social ,security ,act 7#db ,u4,s4,c4 #dja et seq471 as a supplemental security income benefit under title ,,xvi of the ,social ,security ,act 7#db ,u4,s4,c4 #acha et seq471 or as a benefit under the ,railroad ,retirement ,act of #aigd 7#de ,u4,s4,c4 #bca et seq471 including any such benefit to which the individual is entitled for which payment is made to a representative payee2 7,,iii7 income received by court order1 including spousal support and child support2 7,,iv7 any payment from a trust1 guardian1 conservator1 cosigner1 or relative2 and 7,v7 any other lawful source of income or funds1 including savings accounts and investments2 or 7iv7 for any property that is not habitable1 demolished or donated to a land bank with a cash donation to cover demolition costs4 7#e7 ,the enterprise maintains vacant and abandoned property until such time as title is transferred to a nonprofit organization or the property is sold to a bona fide third-party purchaser4 7b7 ,forbearance ,an enterprise may not sell-- 7#a7 a single family non-performing residential loan while the loan is in a forbearance plan2 7#b7 a single family non-performing residential loan that is not more than #ij days removed from the end of a forbearance plan4 7c7 ,data and reporting 7#a7 ,purchaser reporting ,during the #d-year period following any auction or sale of single family non-performing residential loans under subsection 7a71 the ,director shall require the enterprise to collect from each purchaser of such loans1 including any subsequent purchaser of a loan1 quarterly loan-level data regarding the treatment and outcome of the loan1 including-- 7,a7 loan characteristics1 including loan type1 remaining loan term1 loan to value ratio1 number of months in arrears1 loss mitigation status1 and foreclosure status at time of sale2 7,b7 loss mitigation data1 including whether loss mitigation was provided by the purchaser1 debt-to-income ratio and percent payment reduction for any modified loans1 foreclosures begun or completed1 and performance of modified loans2 7,c7 demographic data for each borrower and any co-borrower1 including race1 national origin1 sex1 ,,zip ,code1 and census tract1 and1 if available1 disability status and veteran status2 and 7,d7 other purchaser actions1 including charge offs and resales of loans and dates for such actions4 7#b7 ,semiannual reports to ,congress ,the ,director shall submit to ,congress1 and make publicly available at no cost to the public in a readily accessible format on the website of the ,agency1 semi-annual reports on-- 7,a7 loans sold in an auction or sale under subsection 7a7 by each enterprise1 disaggregated by pool1 including-- 7i7 the number of loans and types of loans2 7ii7 mean and median delinquency and loan to value ratios at the time of the sale2 7iii7 the number and percentage of owner-occupied properties2 7iv7 the number and percentage of loans modified prior to auction or sale2 7v7 the number and percentage of loans in foreclosure proceedings at the time of auction or sale2 and 7vi7 demographic and geographic data1 including property locations by census tract or larger geographic location if necessary to protect personally identifiable information2 7,b7 the performance of loans after an auction or sale under subsection 7a71 disaggregated by loan pool1 including the initial purchaser1 current owner1 current servicer1 data summarizing any alternatives to foreclosure offered and enacted1 and data summarizing the data collected under subparagraph 7,a72 and 7,c7 the results of a fair lending analysis conducted based on the data in subparagraphs 7,a7 and 7,b7 to identify any discriminatory impacts or outcomes associated with the auctions or sales4 7d7 ,penalties for noncompliance ,the enterprises may-- 7#a7 forcibly retain loans or properties1 without providing compensation1 from purchasers that do not meet the requirements under subsection 7a77#d72 and 7#b7 enact additional penalties for purchasers described in paragraph 7#a7 that the ,director determines have repeatedly not complied with the requirements under subsection 7a77#e71 including monetary penalties and prohibition from participating in sales under this section4 7e7 ,regulations ,the ,director shall issue regulations defining the terms of permissible auctions or sales in accordance with the requirements in this section4 #accj4 ,sale of re-performing loans 7a7 ,bulk auction or group sales ,an enterprise may not conduct bulk auctions or other group sales of single family re-performing residential loans unless the following requirements are met3 7#a7 ,the enterprise establishes a system that provides priority to ,federal1 ,state1 local1 or ,tribal governments or nonprofit organizations that have the capacity and experience required for buying1 servicing1 and resolving single family mortgage loans in a manner that promotes affordable housing1 fair housing1 affordable homeownership1 provision of housing counseling1 or neighborhood stabilization4 7#b7 ,clear1 written notice is sent by the enterprise or servicer through certified and first-class mail to the borrower and all owners of record1 with a copy sent to the enterprise if sent by the servicer1 not less than #ij days before the inclusion of the loan in any proposed sale-- 7,a7 stating that the loan will be included in a bulk auction or group sale of re-performing loans2 and 7,b7 describing the bulk auction or group sale process1 including-- 7i7 the loss mitigation or other protections available to the borrower and other owners of record both before and after the auction or sale2 and 7ii7 the obligations of the servicer of the loan before and after the auction or sale1 including loss mitigation requirements4 7#c7 ,the enterprise requires in the terms of the bulk auction or group sale that purchasers take loans subject to the following requirements3 7,a7 ,the purchaser is required to offer targeted payment relief options to borrowers that become more than #fj days delinquent on their mortgage after their loan is sold that includes deferral of principal and term extension options that reduce payments to an affordable level4 7,b7 ,the purchaser is required to offer a deferral program to borrowers that become more than #fj days delinquent on their mortgage after their loan is sold that offers terms and protections at least as favorable as those available under loss mitigation guidelines of the enterprise1 including the absence of fees1 to borrowers who can afford their pre-hardship mortgage payment4 7,c7 ,failure by the purchaser to follow the established loss mitigation guidelines shall serve as a defense to a judicial foreclosure and a basis to enjoin or otherwise stay a non-judicial foreclosure4 7,d7 ,data reporting as provided under subsection 7b77#a74 7,e7 ,if a property becomes vacant1 the purchaser shall not release the lien until the property is sold or donated4 7,f7 ,use of contract for deed1 lease to own1 or a land installment contract to sell or otherwise transfer any property that is secured by a purchased loan shall be prohibited unless the tenant or purchaser is a nonprofit organization4 7b7 ,data and reporting 7#a7 ,purchaser reporting ,during the #d-year period following any auction or sale of single family re-performing residential mortgage loans under subsection 7a71 the ,director shall require the enterprise to collect from each purchaser of such loans1 including any subsequent purchaser of a loan1 quarterly loan-level data regarding the treatment and outcome of the loan1 including-- 7,a7 loan characteristics1 including loan type1 remaining loan term1 loan to value ratio1 number of months in arrears1 and loan status2 7,b7 loss mitigation data1 including whether loss mitigation was provided by the purchaser1 debt-to-income ratio and percent payment reduction for any modified loans1 and performance of modified loans2 7,c7 demographic data for each borrower and any co-borrower1 including race1 national origin1 sex1 ,,zip ,code1 and census tract1 and1 if available1 disability status and veteran status2 and 7,d7 other purchaser actions1 including charge offs and resales of loans and dates for such actions4 7#b7 ,semiannual reports to congress ,the ,director shall submit to ,congress1 and make publicly available at no cost to the public in a readily accessible format on the website of the ,agency1 semi-annual reports on-- 7,a7 loans sold in an auction or sale under subsection 7a7 by each enterprise1 disaggregated by pool1 including-- 7i7 the number of loans and types of loans2 7ii7 mean and median delinquency and loan to value ratios at the time of the sale2 7iii7 the number and percentage of loans modified prior to auction or sale2 and 7iv7 demographic and geographic data1 including property locations by census tract or larger geographic location if necessary to protect personally identifiable information4 7,b7 the performance of loans after an auction or sale under subsection 7a71 disaggregated by loan pool1 including the initial purchaser1 current owner1 current servicer1 data summarizing any alternatives to foreclosure offered and enacted1 and data summarizing the data collected under subparagraph 7,a72 and 7,c7 the results of a fair lending analysis conducted based on the data in subparagraphs 7,a7 and 7,b7 to identify any discriminatory impacts or outcomes associated with the auctions or sales4 7c7 ,penalties for noncompliance ,the enterprises may forcibly retain loans or properties1 without providing compensation1 from purchasers that do not meet the requirements under subsection 7a77#c74 7d7 ,regulations ,the ,director shall issue regulations defining the terms of permissible auctions or sales in accordance with the requirements in this section4 4