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 developed to provide an abundant source of info about the U.S. mortgage market. It has three primary components:

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 makes it possible for FHFA to fulfill 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 carry out a regular monthly mortgage market research. Specifically, FHFA must, through a survey of the mortgage market, gather information on the qualities of individual mortgages, consisting of those qualified for purchase by and Freddie Mac and those that are not, and consisting of subprime and nontraditional mortgages. In addition, FHFA should gather details on the credit reliability of borrowers, including a determination of whether subprime and nontraditional borrowers would have gotten approved for prime loaning. [4]

For CFPB, the NMDB program supports policymaking and research efforts and assists determine and comprehend emerging mortgage and housing market trends. CFPB utilizes the NMDB, to name a few functions, in assistance of the market monitoring required by the Dodd-Frank Wall Street Reform and Consumer Protection Act, consisting of comprehending how mortgage financial obligation impacts customers and for retrospective rule evaluation needed by the statute.

Safeguards

No details on customer 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 remain in place to guarantee that information in the database is not utilized to identify individual customers or lending institutions and is dealt with in complete accordance with federal privacy laws and the Fair Credit Reporting Act (FCRA).

National Mortgage Database

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

The function of NMDB is to inform and inform FHFA, CFPB and other federal companies about loaning items and mortgage market health. The database is comprehensive, and there are numerous possibilities for how it might be used. Some examples include:

Studying the subprime mortgage crisis: Because the data returns to 1998, the database can be used to examine possible reasons for the current subprime crisis.

Monitoring brand-new and emerging items in the mortgage market: The database permits firms to keep track of volume and performance of products in the mortgage market and aid regulators recognize possible issues or new risks.

Monitoring the relative health of mortgage markets and customers: The database supplies detailed mortgage loan efficiency info consisting of whether payments are made on-time, in addition to info concerning loan adjustments, foreclosures, and bankruptcies. This can help policy makers much better understand how various products are being utilized and how they are performing.

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

Monitoring budget-friendly lending: Since the database is updated quarterly, it offers details on mortgage access and mortgage terms for low-income debtors and communities faster than data required by the Home Mortgage Disclosure Act, or HMDA. Currently, HMDA data does not become offered until the year following origination.

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

Description

The NMDB puts together credit, administrative, maintenance, and residential or commercial property information for a nationally representative 5 percent sample of closed-end first-lien property mortgages in the United States. The database consists of the following details:

- mortgage efficiency from origination to termination;.

- mortgage terms;.

- residential or commercial property worth and attributes;.

- type and function of the mortgage item;.

- sale in the secondary mortgage market; and.

- credit-related info on all mortgage cosigners, consisting of 2nd liens, other previous 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 2nd component of the National Mortgage Database program. The NSMO is performed quarterly and is collectively sponsored by the Federal Housing Finance Agency (FHFA) and the Consumer Financial Protection Bureau (CFPB).

The purpose of the NSMO is to gather voluntary feedback straight from mortgage debtors about their experience acquiring a mortgage. The info will provide researchers, policy makers, and others with data that they can evaluate to inform housing and mortgage-related public law and to comprehend customers' experiences taking out a mortgage. The information will assist shape policies in the future to much better safeguard customers.

If you obtained a mortgage to acquire or refinance either a personal home or a home for somebody else (such as a rental residential or commercial property), we wish to understand more about your experience in acquiring that mortgage. Hearing directly from debtors supplies valuable info about the performance of the mortgage market that will assist us enhance loaning practices and the mortgage procedure for future debtors.

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

If you have any concerns about this study, please do not hesitate to call us at 1-855-531-0724. We eagerly 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 performed yearly 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 directly from mortgage borrowers about their experience with their mortgage and residential or commercial property. ASMB respondents are representative of the overall population of customers with a mortgage loan, including those who just recently took out a loan and those who have actually had their loan for numerous years. The feedback collected by the ASMB consists of information about a variety of subjects connected to keeping a mortgage and residential or commercial property, such as debtors' experiences with handling their mortgage, reacting to financial stress factors, insuring versus threats, seeking help from federally-sponsored programs and other sources, and ending a mortgage loan. The details will offer scientists, policy makers, and others with data that they can analyze to inform housing and mortgage-related public policy and to comprehend consumers' experiences preserving a mortgage. The data will help form policies in the future to much better protect customers.

For Survey Respondents

If you are here, you probably got our letter requesting your aid with a crucial national study of mortgage customers.

If you have or recently had a mortgage on an individual home or a home for somebody else (such as a rental residential or commercial property), we wish to know more about your experiences with your mortgage and with residential or commercial property ownership. Hearing straight from customers provides valuable info about the functioning of the mortgage market that will assist us enhance financing practices and the mortgage process for future debtors.

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

The reactions to this study will stay anonymous. The survey does not ask you for any identifying info, so please do not identify yourself in any way on the envelope or the returned questionnaire. The code numbers on the study exist to aid in the scanning process and to keep track of returned studies.

We considerably appreciate your effort to address the questions and return the survey. We thank you for your aid with this crucial national survey.

For those who have actually been chosen to be a part of the study, it can be finished 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 concerns about this survey, please feel totally free to call us at 855-339-7877. We look forward to speaking with you.

Current Survey Cover Letter

Survey Cover Letter