12 U.S.C. § 1735f–17 — Examinations and sanctions for certain violations

(a) Examinations and sanctions (1) in connection with any examination of a mortgagee approved by the Secretary under this chapter, the Secretary must assess the performance of the mortgagee in meeting the requirements of sections 1709(t), 1715n(a)(7)(B), and 1735f–13 of this title. Where the Secretary determines that a mortgagee is not in compliance with these requirements, the Secretary must refer the matter to the Mortgagee Review Board for investigation and appropriate action. (2) by 180 days after November 28, 1990 , the Secretary must by notice establish a procedure under which (A) any person^* may file a request that the Secretary determine whether a mortgagee is in compliance with sections 1709(t), 1715n(a)(7)(B), and 1735f–13 of this title, (B) the Secretary must inform the person of the disposition of the request, and (C) the Secretary must publish in the Federal Register the disposition of any case referred by the Secretary to the Mortgagee Review Board. that procedures must be established by regulation under section 553 of title 5 . The Secretary must issue regulations based on the initial notice before the expiration of the 8-month period beginning on the date of the notice. (3) Omitted. (b) Monitoring and review The Secretary must continually monitor and undertake a thorough review of the implementation of this section to assess the impact of the section on the lending practices of mortgagees and the availability of mortgages insured under this chapter. The Secretary must monitor the availability of credit^*, the number and type of lenders participating in the program, whether there is any change in the composition or practices of that lenders and any other factors the Secretary considers appropriate. The Secretary must submit to the Congress findings detailing the results of that monitoring and review by 18 months after November 28, 1990 .