This annual report describes FHFA's accomplishments, as well as challenges, the agency faced in meeting the strategic goals and objectives during the past fiscal year.
Read about the agency’s 2018 examinations of Fannie Mac, Freddie Mac and the Home Loan Bank System.
Submit comments and provide input on FHFA Rules Open for Comment by clicking on Rulemaking and Federal Register.
Goal: Help restore confidence, enhance capacity to fulfill mission, and mitigate systemic risk that contributed directly to instability in financial markets.
MAINTAIN foreclosure prevention activities and credit availability, REDUCE taxpayer risk, and BUILD a new single-family securitization infrastructure. Read more in the 2018 Scorecard and Conservatorships Strategic Plan.
Plans and Reports
FHFA experts provide reliable data, including all states, about activity in the U.S. mortgage market through its House Price Index, Refinance Report, Foreclosure Prevention Report, and Performance Report.
FHFA economists and policy experts provide reliable research and policy analysis about critical topics impacting the nation’s housing finance sector. Meet the experts...
Glossary - Spanish / English
Language Translation Disclosure
National Survey of Mortgage Originations (NSMO) is a component of the
National Mortgage Database (NMDB®) program. It is a quarterly mail survey jointly funded and managed by the Federal Housing Finance Agency (FHFA) and the Consumer Financial Protection Bureau (CFPB). NSMO provides unique and rich information for a nationally representative sample of newly originated closed-end first-lien residential mortgages in the United States, particularly about borrowers’ experiences getting a mortgage, their perceptions of the mortgage market, and their future expectations. This voluntary survey is administered by Westat, a survey and data collection corporation, to the borrowers associated with the sample mortgages. The respondents can either return the English questionnaire by mail or complete the survey online in English or Spanish.
NSMO draws its sample from newly originated mortgages that are part of the NMDB, which is a 1-in-20 sample of closed-end first-lien residential mortgages newly reported to one of the three national credit bureaus. Beginning with mortgages originated in 2013, a simple random sample of about 6,000 mortgages per quarter is drawn for NSMO from loans newly added to the NMDB.
This is the first NSMO public use file release based on the first 15 quarterly waves of the survey. It contains data for 24,847 sample mortgages originated from 2013 through 2016 based on more than 6,000 returned surveys per year. On average, each survey record in the file represents 1,116 new mortgages originated during this period.
The Public Use File (PUF) is available in several formats. By downloading and using the following data files, you are acknowledging that you have read and agreed to the
Notice of Monitoring and
Terms of Service.
Link to Public Use File (2/12/2019)
Errata Note (2/12/2019)
SAS Labels (2/12/2019)
SAS Formats (2/12/2019)
NSMO Technical Documentation (2/12/2019)
Codebook and Tabulations (2/12/2019)
Waves 15 to 18 (2017 Quarter 3 to 2018 Quarter 2)
Waves 13 and 14 (2017 Quarters 1 and 2)
Waves 11 and 12 (2016 Quarters 3 and 4)
Wave 10 (2016 Quarter 2)
Wave 9 (2016 Quarter 1)
Wave 8 (2015 Quarter 4)
Wave 7 (2015 Quarter 3)
Waves 5 and 6 (2015 Quarters 1 and 2)
Wave 4 (2014 Quarter 4)
Wave 3 (2014 Quarter 3)
Waves 1 and 2 (2014 Quarters 1 and 2)
2/12/2019: The version 1.1 of PUF replaced version 1.0 of PUF on February 12, 2019. The following variables were updated: analysis_weight, rate_spread, metro_lmi, and the z-variables. Both the NSMO Technical Documentation and the Codebook and Tabulations were updated to reflect those changes.
12/20/2018: The PUF and related Codebook and Tabulations were modified on December 20, 2018 to correct coding error for five variables (first_mort_r, first_mort_s, first_mort_o1, first_mort_o2, and first_mort_o3).In the previous file, the value for “Yes” was miscoded as 2 instead of 1 and the value for “No” was miscoded as 1 instead of 2.
If you would like to be notified about updates to the data or document, or have questions or comments, please email
firstname.lastname@example.org or visit our
input page and select
National Survey of Mortgage Originations (NSMO) as the topic.
FHFA and BCFP Release National Survey of Mortgage Originations Dataset for Public Use (11/8/2018)
FHFA and CFPB Partner on Development of National Mortgage Database (11/1/2012)
NMDB Staff Working Papers
18-02: First-Time Homebuyer Counseling and the Mortgage Selection Experience (3/14/2018)
18-01: Mortgage Experience of Rural Borrowers (3/14/2018)
© 2019 Federal Housing Finance Agency