National Mortgage Database Program

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National Mortgage Database Program

The National Mortgage Database (NMDB ®) [1] program is collectively funded and managed by the Federal Housing Finance Agency (FHFA) and the Consumer Financial Protection Bureau (CFPB). This program is developed to offer a rich source of details 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 yearly American Survey of Mortgage Borrowers (ASMB). [3]

Purpose

The NMDB program allows FHFA to meet the statutory requirements of section 1324( c) of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as changed by the Housing and Economic Recovery Act of 2008, to conduct a regular monthly mortgage market research. Specifically, FHFA must, through a study of the mortgage market, collect data on the characteristics of specific mortgages, consisting of those eligible for purchase by Fannie Mae and Freddie Mac and those that are not, and consisting of subprime and nontraditional mortgages. In addition, FHFA needs to collect details on the creditworthiness of borrowers, including a decision of whether subprime and nontraditional debtors would have qualified for prime financing. [4]

For CFPB, the NMDB program supports policymaking and research study efforts and helps determine and understand emerging mortgage and housing market patterns. CFPB utilizes the NMDB, to name a few purposes, in assistance of the marketplace tracking required by the Dodd-Frank Wall Street Reform and Consumer Protection Act, including comprehending how mortgage debt affects consumers and for retrospective rule evaluation needed by the statute.

Safeguards

No info on debtor names, addresses, Social Security numbers, or dates of birth is ever utilized or stored by FHFA or CFPB as part of the NMDB program. Furthermore, safeguards are in place to guarantee that info in the database is not used to recognize individual debtors or lenders and is managed completely accordance with federal personal privacy laws and the Fair Credit Reporting Act (FCRA).

National Mortgage Database

The National Mortgage Database (NMDB) is the first element of the National Mortgage Database program. NMDB is upgraded quarterly for a nationally representative 5 percent sample of closed-end first-lien property mortgages in the United States.

The purpose of NMDB is to inform and educate FHFA, CFPB and other federal agencies about loaning products and mortgage market health. The database is comprehensive, and there are lots of possibilities for how it may be used. Some examples include:

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

Monitoring new and emerging products in the mortgage market: The database allows firms to monitor volume and efficiency of items in the mortgage market and aid regulators identify prospective issues or brand-new threats.

Monitoring the relative health of mortgage markets and consumers: The database provides detailed mortgage loan efficiency information consisting of whether payments are made on-time, in addition to info concerning loan modifications, foreclosures, and bankruptcies. This can assist policy makers much better understand how different products are being used and how they are carrying out.

Evaluating loss mitigation, customer counseling, and loan adjustment programs: The database can be utilized to evaluate the effectiveness and potential effect of therapy programs.

Monitoring cost effective lending: Since the database is upgraded quarterly, it supplies information on mortgage gain access to and mortgage terms for low-income borrowers and neighborhoods faster than information required by the Home Mortgage Disclosure Act, or HMDA. Currently, HMDA information does not appear until the year following origination.

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

Description

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

- mortgage performance from origination to termination;.

- mortgage terms;.

- residential or commercial property value and attributes;.

- type and function of the mortgage product;.

- sale in the secondary mortgage market; and.

- credit-related information on all mortgage cosigners, consisting of 2nd liens, other previous and present mortgages, and credit history 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 part of the National Mortgage Database program. The NSMO is carried out quarterly and is jointly 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 getting a mortgage. The information will provide researchers, policy makers, and others with data that they can examine to inform housing and mortgage-related public policy and to understand consumers' experiences taking out a mortgage. The data will help shape policies in the future to better protect customers.

If you got 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 wish to know more about your experience in obtaining that mortgage. Hearing straight from customers supplies important information about the functioning of the mortgage market that will help us improve loaning practices and the mortgage process for future debtors.

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

If you have any questions about this survey, please feel free to call us at 1-855-531-0724. We anticipate hearing from 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 3rd component of the National Mortgage Database program. The ASMB is carried out annually and is jointly sponsored by the Federal Housing Finance Agency and the Consumer Financial Protection Bureau (CFPB).

Purpose

The purpose of the ASMB is to collect voluntary feedback straight from mortgage debtors about their experience with their mortgage and residential or commercial property. ASMB participants are representative of the total population of customers with a mortgage loan, consisting of those who just recently got a loan and those who have had their loan for numerous years. The feedback gathered by the ASMB includes details about a variety of subjects related to keeping a mortgage and residential or commercial property, such as debtors' experiences with handling their mortgage, reacting to financial stressors, insuring against threats, seeking help from federally-sponsored programs and other sources, and ending a mortgage loan. The details will supply scientists, policy makers, and others with information that they can examine to inform housing and mortgage-related public policy and to understand customers' experiences preserving a mortgage. The information will help shape policies in the future to much better secure consumers.

For Survey Respondents

If you are here, you most likely got our letter requesting your aid with an important nationwide study of mortgage debtors.

If you have or just recently had a mortgage on a personal home or a home for somebody else (such as a rental residential or commercial property), we would like to understand more about your experiences with your mortgage and with residential or commercial property ownership. Hearing straight from customers offers important info about the functioning of the mortgage market that will help us enhance loaning practices and the mortgage procedure for future customers.

This survey is jointly sponsored by the Federal Housing Finance Agency and the Consumer Financial Protection Bureau (CFPB), 2 Federal companies that are working together to improve the security and transparency of the loaning process for all consumers.

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

We considerably appreciate your effort to answer the concerns and return the questionnaire. We thank you for your assist with this crucial nationwide study.

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

If you have any questions about this study, please feel free to call us at 855-339-7877. We anticipate hearing from you.

Current Survey Cover Letter

Survey Cover Letter