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American Survey of Mortgage Borrowers

 

The American Survey of Mortgage Borrowers is in support of the National Mortgage Database project which is a multi-year project being jointly undertaken by the Federal Housing Finance Agency (FHFA) and the Consumer Financial Protection Bureau (CFPB).  The project is designed to provide a rich source of information about the U.S. mortgage market based on a five percent sample of residential mortgages.  It has three primary components: (1) the National Mortgage Database (NMDB), (2) the quarterly National Survey of Mortgage Originations (NSMO) [1] and (3) the American Survey of Mortgage Borrowers (ASMB).

The purpose of the ASMB is to collect voluntary feedback directly from borrowers about their mortgage experience, including their experience with maintaining a mortgage under financial stress, their experience in seeking financial assistance, their success in accessing federally-sponsored programs designed to assist them and, where applicable, any challenges they may have had in terminating a mortgage loan. The information will provide researchers, policy makers and others with data that they can analyze regarding important housing and mortgage-related public policy and to understand consumers' experiences maintaining a mortgage under financial stress. The data will help shape policies in the future to better protect consumers.

This survey is being conducted by the Federal Housing Finance Agency and the Consumer Financial Protection Bureau.

The NMDB project will enable 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.  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, and information on the creditworthiness of borrowers, including a determination of whether subprime and nontraditional borrowers would have qualified for prime lending. [2]

For CFPB, the NMDB project will support policymaking and research efforts and help identify and understand emerging mortgage and housing market trends.  The CFPB expects to use 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.

For information about completing the survey please call 855-339-7877.  

Thumbnail image of Survey Letter

English & Spanish versions of the Survey Cover Letter

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Spanish Survey Thumbnail 

Survey - English

Survey - Spanish

 

Related Documents


NMBD Technical Report 4.0 (3/21/2017)

NMDB Technical Report 3.1 (updated 3/21/2017)​

NMDB Technical Report 2.1 (updated 12/22/2016)

NMDB Technical Report 1.1 (updated 12/22/2016)

NSMO Notice of Submission of National Survey of Mortgage Originations (NSMO) Information Collection (9/13/2016)

NSMB Notice of Submission of Information Collection (7/1/2015)​

NSMB Proposed Collection/Comment Request (4/25/2013)



[1] The National Survey of Mortgage Originations was originally called the National Survey of Mortgage Borrowers.  The name of the survey was changed to avoid confusion with the American Survey of Mortgage Borrowers, effective May 9, 2016.​

[2]  FHFA interprets the NMDB project as a whole, including the NSMO, as the “survey” required by the Safety and Soundness Act.  The statutory requirement is for a monthly survey.  Other core inputs to the NMDB, such as a regular refresh of credit-bureau data, occur monthly, but not the NSMO.​​​​​​​​​​​​​​​​

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