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National Mortgage Database Program

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National Mortgage Database Program

The National Mortgage Database (NMDB ®) [1] program is jointly funded and managed by the Federal Housing Finance Agency (FHFA) and the Consumer Financial Protection Bureau (CFPB). This program is designed to offer a rich source of details about the U.S. mortgage market. It has three main components:

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 modified by the Housing and Economic Recovery Act of 2008, to carry out a monthly mortgage market research. Specifically, FHFA must, through a study of the mortgage market, collect information on the attributes of private mortgages, including those eligible for purchase by Fannie Mae and Freddie Mac and those that are not, and including subprime and nontraditional mortgages. In addition, FHFA needs to collect info on the creditworthiness of debtors, consisting of a decision of whether subprime and nontraditional borrowers would have qualified for prime financing. [4]

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

Safeguards

No information 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 remain in place to make sure that info in the database is not utilized to determine individual customers 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 very first part of the National Mortgage Database program. NMDB is upgraded quarterly for a nationally representative five percent sample of closed-end first-lien residential mortgages in the United States.

The purpose of NMDB is to notify and educate FHFA, CFPB and other federal companies about lending products and mortgage market health. The database is comprehensive, and there are many possibilities for how it may be utilized. Some examples consist of:

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

Monitoring new and emerging items in the mortgage market: The database enables companies to keep track of volume and efficiency of items in the mortgage market and help regulators recognize possible issues or new risks.

Monitoring the relative health of mortgage markets and consumers: The database supplies in-depth mortgage loan efficiency details consisting of whether payments are made on-time, as well as details concerning loan modifications, foreclosures, and personal bankruptcies. This can assist policy makers better understand how numerous items are being utilized and how they are carrying out.

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

Monitoring budget-friendly lending: Since the database is updated quarterly, it offers info 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 information does not appear till the year following origination.

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

Description

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

– mortgage performance from origination to termination;.

– mortgage terms;.

– residential or commercial property value and attributes;.

– type and purpose of the mortgage product;.

– sale in the secondary mortgage market; and.

– credit-related information on all mortgage cosigners, including second liens, other previous and present mortgages, and credit rating 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 collect voluntary feedback straight from mortgage borrowers about their experience obtaining a mortgage. The details will supply researchers, policy makers, and others with information that they can examine to inform housing and mortgage-related public law and to understand consumers’ experiences securing a mortgage. The data will assist shape policies in the future to better protect consumers.

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 would like to understand more about your experience in acquiring that mortgage. Hearing straight from debtors offers valuable details about the functioning of the mortgage market that will help us improve lending practices and the mortgage procedure for future customers.

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

If you have any concerns about this study, please feel totally free to call us at 1-855-531-0724. We look forward to 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 conducted yearly and is collectively 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 customers about their experience with their mortgage and residential or commercial property. ASMB participants are representative of the general population of borrowers with a mortgage loan, including those who just recently secured a loan and those who have actually had their loan for numerous years. The feedback gathered by the ASMB consists of information about a variety of topics associated with keeping a mortgage and residential or commercial property, such as borrowers’ experiences with managing their mortgage, responding to monetary stressors, guaranteeing against risks, looking for help from federally-sponsored programs and other sources, and ending a mortgage loan. The information will offer researchers, policy makers, and others with information that they can evaluate to notify housing and mortgage-related public policy and to understand customers’ experiences keeping a mortgage. The information will help shape policies in the future to much better safeguard customers.

For Survey Respondents

If you are here, you most likely got our letter asking for your assist with an important nationwide study of .

If you have or recently had a mortgage on a personal home or a home for someone else (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 straight from debtors provides valuable information about the performance of the mortgage market that will assist us improve loaning practices and the mortgage procedure for future debtors.

This survey is jointly sponsored by the Federal Housing Finance Agency and the Consumer Financial Protection Bureau (CFPB), 2 Federal firms that are working together to enhance the safety and openness of the lending procedure for all consumers.

The reactions to this study will stay confidential. The survey does not ask you for any recognizing details, so please do not identify yourself in any way on the envelope or the returned questionnaire. The code numbers on the study are there to aid in the scanning procedure and to keep an eye on returned studies.

We considerably appreciate your effort to answer the concerns and return the survey. We thank you for your aid with this essential national survey.

For those who have been picked 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 sent by mail to you.

If you have any concerns about this study, please feel complimentary to call us at 855-339-7877. We look forward to speaking with you.

Current Survey Cover Letter

Survey Cover Letter

Related Documents

30-Day Notice of Submission of Information Collection American Survey of Mortgage Borrowers (ASMB) for OMB Approval (5/19/2022)

60-Day Notice of Submission of Information Collection American Survey of Mortgage Borrowers for Approval from OMB (12/18/2021)

30-Day Notice of Submission of American Survey of Mortgage Borrowers (ASMB) Emergency Information Collection – Correction (8/7/2020)

30-Day Notice of Submission of American Survey of Mortgage Borrowers (ASMB) Emergency Information Collection (7/31/2020)

30-Day Notice of Submission of American Survey of Mortgage Borrowers (ASMB) Information Collection (3/24/2016)

60-Day Notice of Submission of National Survey of Existing Mortgage Borrowers (NSEMB) Information Collection (11/10/2015)

[1] NMDB ® and FHFA ® are federally signed up hallmarks of the Federal Housing Finance Agency (FHFA Marks) and go through all relevant laws governing the usage of trademarks. FHFA Marks might be used for academic, informative, non-promotional and non-commercial functions. FHFA requires all 3rd parties describing FHFA Marks to do so in a manner that does not imply a relationship with the Federal Housing Finance Agency. Material in which FHFA Marks appear must acknowledge that the hallmarks are federally signed up trademarks of the Federal Housing Finance Agency.

[2] The National Survey of Mortgage Originations was originally called the National Survey of Mortgage Borrowers. The name of the survey was altered to avoid confusion with the American Survey of Mortgage Borrowers, effective May 9, 2016.

[3] The American Survey of Mortgage Borrowers was originally called the National Survey of Existing Mortgage Borrowers. The name of the survey was changed to prevent confusion with the National Survey of Mortgage Originations, effective March 24, 2016.

[4] FHFA translates the NMDB program as an entire, including the NSMO, as the „study“ needed by the Safety and Soundness Act. The statutory requirement is for a regular monthly study. Core inputs to the NMDB, such as a regular refresh of credit-bureau information, occur monthly, though the NSMO is carried out quarterly.