Fabio
76b8ec33a7
Ingested titles 12–51 and 54 from OLRC USLM XML @119-100 (the whole Code now, uniform edition; Title 53 is reserved/empty). LegalText 11,221 -> 59,740; repo total 105,704 records. Deterministic (byte-identical rerun, verified on Title 42's 8,356 sections); make check green. make legal-us-code default now covers every title. Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
50 lines
2.8 KiB
Markdown
50 lines
2.8 KiB
Markdown
---
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type: "LegalText"
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title: "12 U.S.C. § 5115"
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description: "Reports and recommendations to Congress"
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jurisdiction: "us"
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corpus: "united_states_code"
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kind: "code_section"
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title_number: 12
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title_name: "BANKS AND BANKING"
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chapter_number: "51"
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chapter_name: "SECURE AND FAIR ENFORCEMENT FOR MORTGAGE LICENSING"
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section: "5115"
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citation: "12 U.S.C. § 5115"
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status: "current"
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release_point: "119-100"
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release_date: "2026-06-26"
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source: "official"
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source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
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source_identifier: "/us/usc/t12/s5115"
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source_file: "data/legal/raw/us/code/title-12/usc12.xml"
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source_hash: "2ba3c58031f42564c8654c284e5e0b445669e32f9cab2a7670f9aa25c2e148ac"
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raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
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text_hash: "0138115b6879bf05b8c530dd540f26b83595adfe7e72cb269162906fc55a5c2f"
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retrieved_at: "2026-07-04"
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confidence: "official"
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tags: ["legal", "us-code"]
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---
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# 12 U.S.C. § 5115 - Reports and recommendations to Congress
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## Text
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(a) Annual reports Not later than 1 year after July 30, 2008, and annually thereafter, the Director shall submit a report to Congress on the effectiveness of the provisions of this chapter, including legislative recommendations, if any, for strengthening consumer protections, enhancing examination standards, streamlining communication between all stakeholders involved in residential mortgage loan origination and processing, and establishing performance based bonding requirements for mortgage originators or institutions that employ such brokers.
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(b) Legislative recommendations Not later than 6 months after July 30, 2008, the Director shall make recommendations to Congress on legislative reforms to the Real Estate Settlement Procedures Act of 1974 [12 U.S.C. 2601 et seq.], that the Director deems appropriate to promote more transparent disclosures, allowing consumers to better shop and compare mortgage loan terms and settlement costs.
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(Pub. L. 110–289, div. A, title V, § 1516, July 30, 2008, 122 Stat. 2824; Pub. L. 111–203, title X, § 1100(3), July 21, 2010, 124 Stat. 2106.)
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## Notes
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Editorial Notes
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References in TextThe Real Estate Settlement Procedures Act of 1974, referred to in subsec. (b), is Pub. L. 93–533, Dec. 22, 1974, 88 Stat. 1724, which is classified principally to chapter 27 (§ 2601 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 2601 of this title and Tables.
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Amendments2010—Pub. L. 111–203 substituted “Director” for “Secretary” wherever appearing.
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Statutory Notes and Related Subsidiaries
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Effective Date of 2010 AmendmentAmendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.
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