FHFA and CFPB Issue Mortgage Originations Dataset

Nov 08, 2018

The Federal Housing Finance Agency (FHFA) and the Consumer Financial Protection Bureau (CFPB) released new loan-level dataset collected through the National Survey of Mortgage Originations (NSMO) that is designed to offer that insight on borrowers’ experiences when applying for a residential mortgage.

The NSMO is a component of the National Mortgage Database that was launched by the two regulators in 2012. In every quarter since 2014, the FHFA and the CFPB sent surveys to borrowers who had recently obtained mortgages to gather feedback on their experiences during the process of getting a mortgage, their perception of the mortgage market, and their future expectations. The new dataset is the first public release of the results of this feedback.

“The NSMO data should be very helpful to policymakers, the mortgage industry and researchers in understanding consumer behavior and borrowers’ experiences obtaining a mortgage,” said FHFA Deputy Director Sandra Thompson. “The goal of the survey is to obtain information to help improve lending practices and the mortgage process for future borrowers.”

"These data will allow greater transparency, accountability, and effectiveness around borrowers’ mortgage experiences. This is yet another example of greater cooperation within the federal family on behalf of smarter policy for the American people,” said CFPB Acting Director Mick Mulvaney.

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Nov 08, 2018

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