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 designed to provide an abundant source of info about the U.S. mortgage market. It has 3 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 allows FHFA to meet the statutory requirements of section 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 perform a month-to-month mortgage market research. Specifically, FHFA must, through a survey of the mortgage market, collect data on the qualities of specific mortgages, consisting of those qualified for purchase by Fannie Mae and Freddie Mac and those that are not, and including subprime and nontraditional mortgages. In addition, FHFA must gather information on the credit reliability of customers, consisting of a decision of whether subprime and nontraditional customers would have certified for prime lending. [4]

For CFPB, the NMDB program supports policymaking and research efforts and assists recognize and comprehend emerging mortgage and housing market patterns. CFPB utilizes the NMDB, among other functions, in support of the market tracking called for by the Dodd-Frank Wall Street Reform and Consumer Protection Act, including comprehending how mortgage financial obligation impacts customers and for retrospective guideline review needed by the statute.


Safeguards


No info on debtor names, addresses, Social Security numbers, or dates of birth is ever used or stored by FHFA or CFPB as part of the NMDB program. Furthermore, safeguards remain in location to guarantee that information in the database is not used to determine specific debtors or loan providers and is handled 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 updated quarterly for a nationally representative five percent sample of closed-end first-lien domestic mortgages in the United States.


The purpose of NMDB is to inform and educate FHFA, CFPB and other federal agencies about loaning items and mortgage market health. The database is extensive, and there are numerous 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 utilized to evaluate possible reasons for the recent subprime crisis.

Monitoring new and emerging products in the mortgage market: The database permits companies to keep track of volume and efficiency of items in the mortgage market and assistance regulators determine prospective problems or new dangers.

Monitoring the relative health of mortgage markets and customers: The database supplies comprehensive mortgage loan efficiency details consisting of whether payments are made on-time, as well as info relating to loan modifications, foreclosures, and bankruptcies. This can help policy makers much better understand how different products are being used and how they are performing.

Evaluating loss mitigation, customer counseling, and loan modification programs: The database can be utilized to evaluate the efficacy and possible effect of therapy programs.

Monitoring budget friendly lending: Since the database is upgraded quarterly, it provides details on mortgage access and mortgage terms for low-income borrowers and communities faster than information required by the Home Mortgage Disclosure Act, or HMDA. Currently, HMDA data does not end up being available until the year following origination.

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


Description


The NMDB assembles credit, administrative, servicing, 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 consists of the following info:


- mortgage performance from origination to termination;.

- mortgage terms;.

- residential or commercial property value and characteristics;.

- type and function of the mortgage product;.

- sale in the secondary mortgage market; and.

- credit-related info on all mortgage cosigners, consisting of second liens, other previous and present mortgages, and credit scores 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 jointly 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 borrowers about their experience getting a mortgage. The information 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 getting a mortgage. The information will assist form policies in the future to much better safeguard customers.


If you got a mortgage to buy or re-finance either an individual home or a home for somebody else (such as a rental residential or commercial property), we want to understand more about your experience in obtaining that mortgage. Hearing straight from borrowers supplies important details about the performance of the mortgage market that will help us improve lending practices and the mortgage procedure for future customers.


For those who have actually been picked to be a part of the survey, it can be finished online. Go to www.NSMOsurvey.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 survey, please feel complimentary 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 part 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 function of the ASMB is to gather voluntary feedback straight from mortgage debtors about their experience with their mortgage and residential or commercial property. ASMB respondents are representative of the general population of debtors with a mortgage loan, including those who just recently got a loan and those who have actually had their loan for multiple years. The feedback collected by the ASMB includes details about a variety of subjects related to maintaining a mortgage and residential or commercial property, such as debtors' experiences with handling their mortgage, reacting to financial stress factors, insuring versus dangers, seeking help from federally-sponsored programs and other sources, and terminating a mortgage loan. The info will supply scientists, policy makers, and others with information that they can examine to inform housing and mortgage-related public policy and to comprehend consumers' experiences keeping a mortgage. The information will assist shape policies in the future to better safeguard consumers.


For Survey Respondents


If you are here, you probably got our letter asking for your aid with an essential nationwide study of mortgage debtors.


If you have or just recently had a mortgage on an individual home or a home for another person (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 directly from borrowers provides valuable info about the functioning of the mortgage market that will assist us enhance financing practices and the mortgage procedure for future borrowers.


This study is collectively sponsored by the Federal Housing Finance Agency and the Consumer Financial Protection Bureau (CFPB), two Federal firms that are interacting to enhance the safety and transparency of the loaning procedure for all customers.


The responses to this survey will remain anonymous. The survey does not ask you for any recognizing details, so please do not determine yourself in any method on the envelope or the returned survey. The code numbers on the study exist to assist in the scanning procedure and to keep an eye on returned studies.


We significantly value your effort to answer the questions and return the questionnaire. We thank you for your assist with this essential national survey.


For those who have been chosen to be a part of the survey, it can be finished online. Go to www.ASMBsurvey.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 do not hesitate to call us at 855-339-7877. We eagerly anticipate 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 using trademarks. FHFA Marks may be used for educational, informative, non-promotional and non-commercial purposes. FHFA needs all 3rd celebrations describing FHFA Marks to do so in a way that does not indicate a relationship with the Federal Housing Finance Agency. Material in which FHFA Marks appear need to acknowledge that the hallmarks are federally registered 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 study was changed to prevent confusion with the National Survey of Mortgage Originations, effective March 24, 2016.


[4] FHFA interprets the NMDB program as an entire, consisting of the NSMO, as the "survey" needed by the Safety and Soundness Act. The statutory requirement is for a month-to-month study. Core inputs to the NMDB, such as a regular refresh of credit-bureau data, take place monthly, though the NSMO is conducted quarterly.