---
kind: "section"
citation: "12 U.S.C. § 5116"
title: "12"
title_heading: "Banks and Banking"
number: "5116"
heading: "Study and reports on defaults and foreclosures"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/5116"
units:
  - "Chapter 51 — Secure and Fair Enforcement for Mortgage Licensing"
---

# §5116. Study and reports on defaults and foreclosures

- (a) **Study required—** The [Director](/usc/12/5102.md?p=10) 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—** Not later than 6 months after July 30, 2008, the [Director](/usc/12/5102.md?p=10) shall submit to Congress a preliminary report regarding the study required by this section.
- (c) **Final report to Congress—** Not later than 12 months after July 30, 2008, the [Director](/usc/12/5102.md?p=10) 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.

## 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.)

## Notes

### Editorial Notes

### Amendments

2010—Pub. L. 111–203 substituted “Director” for “Secretary” wherever appearing.

### Statutory Notes and Related Subsidiaries

### Effective Date of 2010 Amendment

Amendment 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.