12 USC § 5116 - Study and reports on defaults and foreclosures

---
identifier: "/us/usc/t12/s5116"
source: "usc"
legal_status: "official_prima_facie"
title: "12 USC § 5116 - Study and reports on defaults and foreclosures"
title_number: 12
title_name: "BANKS AND BANKING"
section_number: "5116"
section_name: "Study and reports on defaults and foreclosures"
chapter_number: 51
chapter_name: "SECURE AND FAIR ENFORCEMENT FOR MORTGAGE LICENSING"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Pub. L. 110–289, div. A, title V, § 1517, July 30, 2008, 122 Stat. 2824; Pub. L. 111–203, title X, § 1100(3), July 21, 2010, 124 Stat. 2106.)"
---


# § 5116. Study and reports on defaults and foreclosures

**(a)** **Study required** The Director shall conduct an extensive study of the root causes of default and foreclosure of home loans, using as much empirical data as is available.

**(b)** **Preliminary report to Congress** July 30, 2008

Not later than 6 months after , the Director shall submit to Congress a preliminary report regarding the study required by this section.

**(c)** **Final report to Congress** July 30, 2008

Not later than 12 months after , the Director shall submit to Congress a final report regarding the results of the study required by this section, which shall include any recommended legislation relating to the study, and recommendations for best practices and for a process to provide targeted assistance to populations with the highest risk of potential default or foreclosure.

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**Source Credit**: (Pub. L. 110–289, div. A, title V, § 1517, July 30, 2008, 122 Stat. 2824; Pub. L. 111–203, title X, § 1100(3), July 21, 2010, 124 Stat. 2106.)

## Editorial Notes

### Amendments

2010— substituted “Director” for “Secretary” wherever appearing.

## Statutory Notes and Related Subsidiaries

### Effective Date of 2010 Amendment

Amendment by  effective on the designated transfer date, see , set out as a note under , Government Organization and Employees.