106 STAT. 3962 PUBLIC LAW 102-550—OCT. 28, 1992

(A) assist primary lenders to make housing credit avail-
able in areas with concentrations of low-income and minor-
ity families, and

(B) assist insured depository institutions to meet their
obligations under the Community Reinvestment Act of
1977,

which shall include developing appropriate and prudent under-
writing standards, business practices, repurchase requirements,
pricing, fees, and procedures; and

(4) develop the institutional capacity to help finance low-
and moderate-income housing, including housing for first-time
homebuyers.

12 U8G 4566. SEC. 1336. MONITORING AND ENFORCING COMPLIANCE WITH HOUS-
ING GOALS.

(a) IN GENERAL.—

(1) AUTHORITY.—The Secretary shall monitor and enforce
compliance with the housing goals established under sections
1332,1333, and 1334, as provided in this section.

(2) GUIDELINES.—The Secretary shall establish guidelines
to measure the extent of compliance with the housing goals,
which may assign full credit, partial credit, or no credit toward
achievement of the housing goals to different categories of
mortgage purchase activities of the enterprises, based on such
criteria as the Secretary deems appropriate.

(3) EXTENT OF COMPLIANCE.—In determining compliance
with the housing goals established under this subpart, the
Secretary—

(A) shall consider any single mortgage purchased by
an enterprise as contributing to the achievement of each
housing goal for which such mortgage purchase qualifies;
and

(B) may take into consideration the number of housing
units financed by any mortgage on housing purchased by
an enterprise.

(b) NOTICE AND DETERMINATION OF FAILURE To MEET GOALS.—

(1) NOTICE.—If the Secretary determines that an enterprise
has failed, or that there is a substantial probability that an
enterprise will fail, to meet any housing goal established under
section 1332, 1333, or 1334, the Secretary shall provide written
notice to the enterprise of such a determination, the reasons
for such determination, the requirement to submit a housing
plan under subsection (c) of this section, and the information
on which the Secretary based the determination or imposed
such requirement.

(2) RESPONSE PERIOD.—

(A) IN GENERAL.—During the 30-day period beginning
on the date that an enterprise is provided notice under
paragraph (1), the enterprise may submit to the Secretary
any written information that the enterprise considers
appropriate for consideration by the Secretary in determin-
ing whether such failure has occurred or whether the
achievement of such goal was or is feasible.

(B) EXTENDED PERIOD.—The Secretary may extend the
period under subparagraph (A) for good cause for not more
than 30 additional days.