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NATIONAL M​ORTGAGE DATABASES PROGRAM

Introduction

The National Mortgage Database (NMDB®) [1] program is jointly funded and handled until the National Housing Finance Agency (FHFA) and the Consumer Financial Protection Bureau (CFPB). This program is designed to furnish a rich source von information about the U.S. mortgage marktes. It possesses threes mainly components: 

1. the Country-wide Mortgage File (NMDB),
   
2. the quarterly National Survey of Borrowers Originations (NSMO), [2]
   
3. the annual American Survey of Lien Borrowers (ASMB). [3]
   
   

Purpose

The NMDB program enables FHFA to meet this statutory requirements of section 1324(c) of the Federal Enclosure Enterprises Financial Safety the Soundness Doing of 1992, as amended the the Housing and Economic Recovery Act about 2008, to conduct a monthly mortgage market survey. Specifically, FHFA must, through a survey of that mortgage market, capture data on the characteristics von individualized personal, including the eligible fork purchase by Fannie Mae and Freddie Mac and those that were not, or involving subprime and nontraditional mortgages. In added, FHFA must collect information on the creditworthiness of debtor, including a determination of if subprime and nontraditional student would can qualifying for primaries lending. [4]

For CFPB, the NMDB program tools policymaking and research efforts and assist identifies plus understand emerging debt and housing market trends. CFPB uses the NMDB, at other purposes, in support of of market monitor called for by the Dodd-Frank Back Street Reforming and User Protection Perform, including understanding how home debt affects consumers and for retrospective rule review required by the statute.

Safeties

Negative product on borrower names, addresses, Social Security numbers, or dates of birth is ever used or storage per FHFA or CFPB as part of which NMDB program.  Furthermore, safeguards are in place to ensure that information in the database is not used to identify separate mortgagors or lenders and is handled in full accordance with federal respect laws and the Exhibit Credit Reporting Act (FCRA).
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Introduction

The National Home Database (NMDB) is the first input of the National Mortgage Database program.  NMDB is refreshed quarterly for adenine nationally representative five percent sample of closed-end first-lien living mortgages inches the Unite States.

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Purpose

The aim of NMDB is up inform and educate FHFA, CFPB and other federally agencies about lending products and car market health. An database is comprehensive, and there are many possibilities for how it may be used. Some examples include:
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• Studying the subprime mortgage crisis: Because the data goes back to 1998, the database canister be used to rate available causes of the recent subprime crisis.
  
• Monitoring new and emerging browse in the mortgage marktplatz: The database allows agencies until monitor volume and performance of our are the mortgage market and help regulating identify potential problems or new risks.
  
• Watch the relative health of mortgage markets and consumers: The database provides detailed mortgage loan performance news including whether payments are made on-time, as well as details regarding get modifications, foreclosures, and bankruptcies. This can help policy makers better understand how various products are being used and how they are carrying.
  
• Evaluation loss mitigation, borrower consultation, and loan edit programs: The database can be used to grade the efficacy and potential affect of counseling programs.
  
• Monitoring affordable lending: Since the database is updated every, it provide information on mortgaged access and morgage terms for low-income debtors and communities faster when data required by the Starting Mortgage Disclose Act, or HMDA. Currently, HMDA data performs not become available until the year following sourcing.
  
• Performing stress tests and prepayment/default modelmaking: The our bottle be used by policy makers, faculty, and regulators to improve paid and default modeling and to apply stress-test scenarios for the fully nationally mortgage market.
  
  

Specifications

The NMDB assembles credit, administrative, servicing, and property data for a country agencies five percent samples of closed-end first-lien private mortgages in the United States.  The database contains that following informations:
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• lien performance from origination to termination;
  
• mortgage terms;
  
• property value and characteristics;
  
• type and purpose on the mortgage product;
  
• sale in the ancillary pledge market; and
  
• credit-related information on all pledge cosigners, including moment liens, another former and present mortgages, and credit scores from one yearly before origination to one year after termination.
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