National Mortgage Database Program

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National Mortgage Database Program

The National Mortgage Database (NMDB ®) [1] program is jointly moneyed and managed by the Federal Housing Finance Agency (FHFA) and the Consumer Financial Protection Bureau (CFPB). This program is created to offer an abundant source of info about the U.S. mortgage market. It has 3 primary parts:

1. the National Mortgage Database (NMDB),.

2. the quarterly National Survey of Mortgage Originations (NSMO), [2]
3. the annual American Survey of Mortgage Borrowers (ASMB). [3]

Purpose

The NMDB program enables FHFA to meet the statutory requirements of area 1324( c) of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended by the Housing and Economic Recovery Act of 2008, to perform a monthly mortgage market survey. Specifically, FHFA must, through a survey of the mortgage market, collect data on the characteristics of private mortgages, consisting of those qualified for purchase by Fannie Mae and Freddie Mac and those that are not, and consisting of subprime and nontraditional mortgages. In addition, FHFA should collect info on the creditworthiness of borrowers, including a determination of whether subprime and nontraditional borrowers would have gotten approved for prime financing. [4]

For CFPB, the NMDB program supports policymaking and research efforts and assists determine and understand emerging mortgage and housing market trends. CFPB utilizes the NMDB, among other functions, in assistance of the market tracking required by the Dodd-Frank Wall Street Reform and Consumer Protection Act, including understanding how mortgage debt affects customers and for retrospective guideline evaluation needed by the statute.

Safeguards

No information on borrower names, addresses, Social Security numbers, or dates of birth is ever used or saved by FHFA or CFPB as part of the NMDB program. Furthermore, safeguards are in place to guarantee that info in the database is not utilized to determine private borrowers or loan providers and is managed in full accordance with federal privacy laws and the Fair Credit Reporting Act (FCRA).

National Mortgage Database

The National Mortgage Database (NMDB) is the first part of the National Mortgage Database program. NMDB is updated quarterly for a nationally representative five percent sample of closed-end first-lien property mortgages in the United States.

The function of NMDB is to inform and educate FHFA, CFPB and other federal companies about loaning products and mortgage market health. The database is extensive, and there are many possibilities for how it might be utilized. Some examples consist of:

Studying the subprime mortgage crisis: Because the information goes back to 1998, the database can be utilized to evaluate possible causes of the current subprime crisis.

Monitoring brand-new and emerging items in the mortgage market: The database permits firms to keep an eye on volume and efficiency of items in the mortgage market and help regulators determine potential problems or brand-new threats.

Monitoring the relative health of mortgage markets and customers: The database supplies detailed mortgage loan performance details including whether payments are made on-time, along with info concerning loan adjustments, foreclosures, and bankruptcies. This can assist policy makers much better understand how numerous products are being utilized and how they are performing.

Evaluating loss mitigation, debtor therapy, and loan adjustment programs: The database can be used to examine the efficacy and prospective impact of counseling programs.

Monitoring economical lending: Since the database is upgraded quarterly, it provides information on mortgage access and mortgage terms for low-income customers and neighborhoods faster than information needed by the Home Mortgage Disclosure Act, or HMDA. Currently, HMDA data does not become offered up until the year following origination.

Performing stress tests and prepayment/default modeling: The database can be utilized by policy makers, scientists, and regulators to improve prepayment and default modeling and to execute stress-test circumstances for the entire national mortgage market.

Description

The NMDB puts together credit, administrative, maintenance, and residential or commercial property data for a nationally representative five percent sample of closed-end first-lien property mortgages in the United States. The database includes the following info:

- mortgage efficiency from origination to termination;.

- mortgage terms;.

- residential or commercial property value and qualities;.

- type and purpose of the mortgage product;.

- sale in the secondary mortgage market; and.

- credit-related info on all mortgage cosigners, consisting of second liens, other past and present mortgages, and credit report from one year before origination to one year after termination.

Related Documents

Notice of Revision to an Existing System of Records: National Mortgage Database Project (12/28/2016)

Revised System of Records-National Mortgage Database Project (8/28/2015)

FHFA Update About the National Mortgage Database (8/1/2014)

System of Records: National Mortgage Database Project (4/16/2014)

Privacy Impact Assessment (11/6/2013)

Notice of Proposed Establishment of New System of Records (12/10/2012)

Privacy Impact Assessment (9/17/2012)

National Survey of Mortgage Originations

The National Survey of Mortgage Originations (NSMO) is the second element of the National Mortgage Database program. The NSMO is conducted quarterly and is collectively sponsored by the Federal Housing Finance Agency (FHFA) and the Consumer Financial Protection Bureau (CFPB).

The function of the NSMO is to gather voluntary feedback directly from mortgage borrowers about their experience acquiring a mortgage. The info will supply researchers, policy makers, and others with information that they can analyze to notify housing and mortgage-related public law and to understand consumers' experiences getting a mortgage. The data will help shape policies in the future to much better secure consumers.

If you obtained a mortgage to buy or refinance either an individual home or a home for somebody else (such as a rental residential or commercial property), we would like to know more about your experience in obtaining that mortgage. Hearing straight from borrowers offers important details about the functioning of the mortgage market that will assist us enhance lending practices and the mortgage process for future borrowers.

For those who have actually been picked to be a part of the survey, it can be completed online. Go to www.NSMOsurvey.com and enter your personal PIN number that was consisted of in the letter mailed to you.

If you have any questions about this survey, please do not hesitate to call us at 1-855-531-0724. We eagerly anticipate speaking with you.

Current Survey Cover Letter and Questionnaire

Survey Questionnaire

60-Day Notice of Submission of National Survey of Mortgage Originations (NSMO) Information Collection (12/6/2022)

30-Day Notice of Submission of National Survey of Mortgage Originations (NSMO) Information Collection (4/3/2020)

60-Day Notice of Submission of National Survey of Mortgage Originations (NSMO) Information Collection (12/10/2019)

30-Day Notice of Submission of National Survey of Mortgage Originations (NSMO) Information Collection (9/13/2016)

60-Day Notice of Submission of National Survey of Mortgage Originations (NSMO) Information Collection (12/28/2016)

Proposed Collection; Comment Request: National Survey of Mortgage Borrowers (30-Day Notice) (7/1/2013)

Proposed Collection; Comment Request: National Survey of Mortgage Borrowers (60-Day Notice) (4/25/2013)

American Survey of Mortgage Borrowers

Introduction

The American Survey of Mortgage Borrowers (ASMB) is the third element of the National Mortgage Database program. The ASMB is carried out every year and is collectively sponsored by the Federal Housing Finance Agency and the Consumer Financial Protection Bureau (CFPB).

Purpose

The function of the ASMB is to gather voluntary feedback straight from mortgage borrowers about their experience with their mortgage and residential or commercial property. ASMB participants are representative of the total population of borrowers with a mortgage loan, consisting of those who recently got a loan and those who have had their loan for multiple years. The feedback collected by the ASMB consists of information about a variety of topics related to keeping a mortgage and residential or commercial property, such as customers' experiences with handling their mortgage, reacting to financial stress factors, guaranteeing versus threats, looking for help from federally-sponsored programs and other sources, and terminating a mortgage loan. The info will supply researchers, policy makers, and others with data that they can examine to inform housing and mortgage-related public policy and to understand consumers' experiences keeping a mortgage. The information will help form policies in the future to much better protect consumers.

For Survey Respondents

If you are here, you most likely got our letter requesting your aid with an essential national study of mortgage borrowers.

If you have or just recently had a mortgage on a personal home or a home for another person (such as a rental residential or commercial property), we want to understand more about your experiences with your mortgage and with residential or commercial property ownership. Hearing directly from borrowers supplies valuable information about the performance of the mortgage market that will assist us improve loaning practices and the mortgage procedure for future customers.

This study is collectively sponsored by the Federal Housing Finance Agency and the Consumer Financial Protection Bureau (CFPB), 2 Federal companies that are interacting to improve the safety and transparency of the financing process for all customers.

The reactions to this survey will remain confidential. The questionnaire does not ask you for any determining information, so please do not recognize yourself in any method on the envelope or the returned survey. The code numbers on the survey are there to aid in the scanning process and to keep an eye on returned studies.

We greatly value your effort to respond to the concerns and return the questionnaire. We thank you for your aid with this essential national survey.

For those who have been picked to be a part of the survey, it can be finished online. Go to www.ASMBsurvey.com and enter your individual PIN number that was included in the letter mailed to you.

If you have any questions about this study, please do not hesitate to call us at 855-339-7877. We eagerly anticipate hearing from you.

Current Survey Cover Letter

Survey Cover Letter