No information on borrower names, addresses, Social Security numbers, or dates of birth is ever used or stored by FHFA or CFPB as part of the NMDB program. CFPB uses the NMDB, among other purposes, in support of the market 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 review required by the statute. In addition, FHFA must collect information on the creditworthiness of borrowers, including a determination of whether subprime and nontraditional borrowers would have qualified for prime lending.įor CFPB, the NMDB program supports policymaking and research efforts and helps identify and understand emerging mortgage and housing market trends. Specifically, FHFA must, through a survey of the mortgage market, collect data on the characteristics of individual mortgages, including those eligible for purchase by Fannie Mae and Freddie Mac and those that are not, and including subprime and nontraditional mortgages. The NMDB program enables FHFA to meet the statutory requirements of section 1324(c) of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended by the Housing and Economic Recovery Act of 2008, to conduct a monthly mortgage market survey. National Survey of Mortgage Originations (NSMO),Īmerican Survey of Mortgage Borrowers (ASMB). This program is designed to provide a rich source of information about the U.S. Program is jointly funded and managed by the Federal Housing Finance Agency (FHFA) and theĬonsumer Financial Protection Bureau (CFPB).
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