(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.

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Terms Used In Rhode Island General Laws 42-55-22.1

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.

(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.