Data detailing mortgage borrowers’ experiences released

Nov. 8, 2018 -- The BCFP and the Federal Housing Finance Agency (FHFA) Thursday released a new loan-level dataset that provides insights into borrowers’ experiences in getting residential mortgages. The dataset, designed for public use, was collected through the National Survey of Mortgage Originations (NSMO), a component of the National Mortgage Database (NMDB), the first comprehensive repository of detailed mortgage loan information. The survey was conducted jointly by the two agencies; FHFA oversees Fannie Mae, Freddie Mac and the Federal Home Loan Banks.

The database, designed to support policymaking and research efforts and to help regulators better understand emerging mortgage and housing market trends, was launched in 2012 to fulfill requirements of the Housing and Economic Recovery Act (HERA) and the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank). HERA mandated that FHFA conduct a monthly mortgage survey of all residential mortgages, including those not eligible for purchase by Fannie Mae and Freddie Mac. Dodd-Frank mandated that the BCFP monitor the primary mortgage market, in part through the use of the survey data.

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Bureau of Consumer Financial Protection and Federal Housing Finance Agency Release National Survey of Mortgage Originations Dataset for Public Use