The Federal Housing Finance Agency (FHFA) and the Consumer Financial Protection Bureau (CFPB) have agreed to collaborate to create a National Mortgage Database to chart housing market trends and support policy making and research efforts. The database is also intended to fulfill a requirement under the Housing and Economic Recovery Act of 2008 for the FHFA to conduct a monthly mortgage market survey.
The mortgage database, which will date back to 1998, will be updated on a monthly basis and will include information such as the borrower’s financial and credit profile; the mortgage product and terms; the property purchased or refinanced; and the ongoing payment history of the loan. The database will create data sets on mortgages by matching informational files, such as property valuation models, to a nationwide sampling of credit bureau files on borrowers’ mortgages and payment histories.
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