Title 42
State Affairs and Government

Chapter 55
Rhode Island Housing and Mortgage Finance Corporation

R.I. Gen. Laws § 42-55-22.1

§ 42-55-22.1. Mortgage disclosure reports.

(a) Subject to the requirements of § 9-1-28.1, the corporation shall compile a report and deliver it on or before the close of calendar year 1986 to the governor, general treasurer, and general assembly containing the following information:

(1) The number and total dollar amount of loans the corporation has made or participated in pursuant to § 42-55-6(1), (2), (3), and (7) and § 42-55-7(3) during each calendar year from 1974 to 1985, inclusive, in each census tract in the state;

(2) The name of each mortgage lender, the number and total dollar amount of loans made to each mortgage lender by the corporation, pursuant to § 42-55-7(2) during each calendar year from 1974 to 1985, inclusive, in each census tract in the state. Notwithstanding the provisions of chapter 37 of title 34, the number, total dollar amount, and seller or assignor of loans the corporation has purchased or taken assignment of broken down by the race of the borrower, pursuant to § 42-55-7, during the calendar year in each census tract in the state;

(3) The number, total dollar amount, and seller or assignor of loans the corporation has purchased or taken assignment of pursuant to § 42-55-7(1) during each calendar year from 1974 to 1985, inclusive, in each census tract in the state;

(4) The number and total dollar amount of federally insured mortgages the corporation has bought or sold pursuant to § 42-55-7(3) during each calendar year from 1974 to 1985, inclusive, in each census tract in the state; and

(5) The number of mortgage loans, the average sale price of homes purchased, the average size of mortgage loans made by the corporation for the purchase of homes, the average household income of borrowers, the average loan to value ratio, and the total number of new and existing homes, respectively, purchased with loans made by the corporation, without revealing the name, address, or income of individual borrowers during each fiscal year from 1977 to 1985, inclusive, in each census tract in the state.

(b) Subject to the requirements of § 9-1-28.1, the corporation shall compile a report and deliver it on or before the close of calendar year 1986 and every calendar year thereafter to the governor, general treasurer, and general assembly containing the following information:

(1) The number and total dollar amount of loans the corporation has made or participated in pursuant to § 42-55-6(1), (2), (3), and (7) and § 42-55-7(3) during the calendar year in each census tract in the state;

(2) The name of each mortgage lender, the number, and total dollar amount of loans made to each mortgage lender by the corporation, pursuant to § 42-55-7(2) during the calendar year in each census tract in the state;

(3) The number, total dollar amount, and seller or assignor of loans the corporation has purchased or taken assignment of pursuant to § 42-55-7(1) during the calendar year in each census tract in the state;

(4) The number and total dollar amount of federally insured mortgages the corporation has bought or sold pursuant to § 42-55-7(3) during the calendar year in each census tract in the state;

(5) The number of mortgage loans, the average sale price of homes purchased, the average size of mortgage loans made by the corporation for the purchase of homes, the average household income of borrowers, the average loan to value ratio, and the total number of new and existing homes, respectively, purchased with loans made by the corporation, without revealing the name, address, or income of individual borrowers during the calendar year in each census tract in the state;

(6) The aggregate number and average dollar value of all loans according to the age of the eldest applicant, in each of the following categories: 18-24; 25-34; 35-44; 45-54; 55-59; 60-64; 65-74; and 75 and older; and

(7) The aggregate number and average dollar value of all loans by each of the state representative districts, as the districts from time to time exist.

(c) The corporation shall make available to the public for inspection and copying at the corporation’s office all reports compiled by the corporation pursuant to this section.

History of Section.
P.L. 1985, ch. 103, § 1; P.L. 1992, ch. 442, § 1; P.L. 2000, ch. 512, § 1.