National Mortgage Database Program

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National Mortgage Database Program

The National Mortgage Database (NMDB ®) [1] program is collectively funded and handled by the Federal Housing Finance Agency (FHFA) and the Consumer Financial Protection Bureau (CFPB). This program is developed to offer a rich source of info about the U.S. mortgage market. It has 3 main 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 fulfill the statutory requirements of section 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 month-to-month mortgage market study. Specifically, FHFA must, through a survey of the mortgage market, gather information on the characteristics of private mortgages, including 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 gather information on the credit reliability of debtors, consisting of a determination of whether subprime and nontraditional borrowers would have received prime loaning. [4]

For CFPB, the NMDB program supports policymaking and research study efforts and assists recognize and understand emerging mortgage and housing market patterns. CFPB utilizes the NMDB, to name a few functions, in support of the market monitoring required by the Dodd-Frank Wall Street Reform and Consumer Protection Act, consisting of comprehending how mortgage financial obligation affects customers and for retrospective guideline evaluation needed by the statute.

Safeguards

No info on customer names, addresses, Social Security numbers, or dates of birth is ever utilized or saved by FHFA or CFPB as part of the NMDB program. Furthermore, safeguards are in place to make sure that information in the database is not utilized to identify individual debtors or lenders and is dealt with in full accordance with federal personal 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 upgraded quarterly for a nationally representative 5 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 agencies about loaning items and mortgage market health. The database is detailed, 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 reasons for the current subprime crisis.

Monitoring new and emerging products in the mortgage market: The database enables companies to monitor volume and efficiency of products in the mortgage market and aid regulators recognize possible problems or brand-new threats.

Monitoring the relative health of mortgage markets and consumers: The database offers detailed mortgage loan performance information consisting of whether payments are made on-time, along with information concerning loan modifications, foreclosures, and insolvencies. This can help policy makers better comprehend how different items are being utilized and how they are carrying out.

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

Monitoring cost effective financing: Since the database is updated quarterly, it provides details on mortgage access and mortgage terms for low-income borrowers and neighborhoods faster than data needed by the Home Mortgage Disclosure Act, or HMDA. Currently, HMDA data does not become readily available up until the year following origination.

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

Description

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

- mortgage performance from origination to termination;.

- mortgage terms;.

- residential or commercial property worth and qualities;.

- type and purpose of the mortgage product;.

- sale in the secondary mortgage market; and.

- credit-related details on all mortgage cosigners, consisting of second liens, other past and present mortgages, and credit ratings 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 collectively sponsored by the Federal Housing Finance Agency (FHFA) and the Consumer Financial Protection Bureau (CFPB).

The purpose of the NSMO is to collect voluntary feedback directly from mortgage customers about their experience acquiring a mortgage. The details will offer scientists, policy makers, and others with data that they can examine to notify housing and mortgage-related public law and to understand customers' experiences taking out a mortgage. The data will assist form policies in the future to much better secure customers.

If you got a mortgage to buy or refinance either a personal home or a home for someone else (such as a rental residential or commercial property), we want to know more about your experience in getting that mortgage. Hearing directly from customers supplies valuable details about the performance of the mortgage market that will assist us enhance lending practices and the mortgage procedure for future borrowers.

For those who have actually 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 concerns about this survey, 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 third element of the National Mortgage Database program. The ASMB is performed each year 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 gather voluntary feedback straight from mortgage borrowers about their experience with their mortgage and residential or commercial property. ASMB respondents are representative of the total population of debtors with a mortgage loan, consisting of those who just recently took out a loan and those who have had their loan for multiple years. The feedback collected by the ASMB consists of details about a series of subjects related to keeping a mortgage and residential or commercial property, such as borrowers' experiences with handling their mortgage, reacting to monetary stress factors, guaranteeing against risks, seeking assistance from federally-sponsored programs and other sources, and terminating a mortgage loan. The information will supply scientists, policy makers, and others with information that they can analyze to notify housing and mortgage-related public law and to understand consumers' experiences keeping a mortgage. The data will assist shape policies in the future to much better secure customers.

For Survey Respondents

If you are here, you probably got our letter asking for your assist with a crucial nationwide study of mortgage borrowers.

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 know more about your experiences with your mortgage and with residential or commercial property ownership. Hearing straight from borrowers offers valuable info about the performance of the mortgage market that will help us enhance loaning practices and the mortgage procedure for future customers.

This study is jointly sponsored by the Federal Housing Finance Agency and the Consumer Financial Protection Bureau (CFPB), two Federal agencies that are interacting to enhance the security and openness of the loaning process for all customers.

The reactions to this survey will stay confidential. The survey does not ask you for any recognizing info, so please do not determine yourself in any way on the envelope or the returned survey. The code numbers on the survey are there to help in the scanning process and to keep track of returned studies.

We greatly value your effort to answer the concerns and return the questionnaire. We thank you for your help with this important national survey.

For those who have actually been selected to be a part of the survey, it can be completed 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 concerns about this survey, please do not hesitate to call us at 855-339-7877. We look forward to hearing from you.

Current Survey Cover Letter

Survey Cover Letter