PUBLIC LAW 102-550—OCT. 28, 1992 106 STAT. 3957 of the Federal National Mortgage Association Charter Act or the Federal Home Loan Mortgage Corporation Act. (b) FACTORS TO BE APPLIED.— In establishing the goal under this section, the Secretary shall consider— (1) national housing: needs; (2) economic, housing, and demographic conditions; (3) the performance and effort of the enterprises toward achieving the low- and moderate-income housing goal in previous years; (4) the size of the conventional mortgage market serving low- and moderate-income families relative to the size of the overall conventional mortgage market; (5) the ability of the enterprises to lead the industry in making mortgage credit available for low- and moderate-income families; and (6) the need to maintain the sound financial condition of the enterprises. (c) USE OF BORROWER AJW TENANT INCOME.— (1) IN GENERAL.—The Secretary shall monitor the performance of each enterprise; in carrying out this section and shall evaluate such performance (for purposes of section 1336) based on— (A) in the case of an owner-occupied dwelling, the mortgagor's income at the time of origination of the mortgage; or (B) in the case of a rental dwelling— (i) the income of the prospective or actual tenants of the property, where such data are available; or (ii) the rent levels affordable to low- and moderateincome families, where the data referred to in clause (i) are not available. (2) AFFORDABlLlTf.— For the purpose of paragraph (IXBXii), a rent level shall be considered affordable if it does not exceed 30 percent of the maximum income level of the income categories referred to in tiiis section, with appropriate a4justments for unit size as measured by the number of bedrooms. (d) TRANSITION.— (1) INTERIM TARGEI\—Notwithstanding any other provision of thds section, during the 2-year period l^ginning on January 1, 1993, the annual target under this section for low- and moderate-income mortgage purchases for each enterprise shall be 30 percent of the total number of dwelling units financed by mortgage purchases of the enterprise. (2) INTERIM GOAL.— During such 2-year period, the Secretary shall establish a separate anniuu goal for each enterprise, the achievement of which shall require— (A) an enterprise that is not meeting the target under paragraph (1) uiK)n January 1, 1993, to improve its performance relative to such target annually and, to the maximum extent feasible, to meet such target at the conclusion of such 2-year period; and • •', (B) an enterprise that is meeting the target under paragraph (1) upon January 1, 1993, to improve its performance relative to the target. (3) IMPLEMENTATION. —The Secretary shall establish any requirements necessary to implement Uie transition provisions
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