((a)) ** Annual reports** Not later than 1 year after , and annually thereafter, the Director shall submit a report to Congress on the effectiveness of the provisions of this chapter, including legislative recommendations, if any, for strengthening consumer protections, enhancing examination standards, streamlining communication between all stakeholders involved in residential mortgage loan origination and processing, and establishing performance based bonding requirements for mortgage originators or institutions that employ such brokers.July 30, 20082008-07-30

((b)) ** Legislative recommendations** Not later than 6 months after , the Director shall make recommendations to Congress on legislative reforms to the Real Estate Settlement Procedures Act of 1974 [ et seq.], that the Director deems appropriate to promote more transparent disclosures, allowing consumers to better shop and compare mortgage loan terms and settlement costs.12 U.S.C. 2601July 30, 20082008-07-30