Sec. 16. FHA disclosure standards
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Not later than the expiration of the 90-day period beginning on the date of the enactment of this Act, the Secretary of Housing and Urban Development shall review and revise all standards and requirements relating to disclosure of information regarding the mortgage insurance programs and funds, including actuarial studies conducted under section 202(a)(4) of the National Housing Act ( 12 U.S.C. 1708(a)(4) ), quarterly reports under section 202(a)(5) of such Act, and annual audited financial statements under section 538 of such Act ( 12 U.S.C. 1735f–16 ), to ensure that, after the date of the enactment of this Act, such disclosures— provide meaningful financial and other information that is timely, comprehensive, and accurate; do not contain any material misstatements or misrepresentations; make available all relevant information; and prohibit material omissions that make the contents of the disclosure misleading.
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- 12 USC 1735f–16
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