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National Survey of Mortgage Originations

 

The National Survey of Mortgage Originations 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 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).

If you have been asked to complete the survey, please visit our Homeowner/Homebuyer National Survey of Mortgage Originations page.

The purpose of the NSMO is to collect voluntary feedback directly from borrowers about their mortgage experiences. 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 taking out and having a mortgage. 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 exp​ects 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.

National Mortgage Database Technical Report 2.1 (updated 12/22/2016) provides background details on how the NSMO was developed. 

National Mortgage Database Technical Report 3.1 (updated 3/21/2017) provides information about the first set of responses to the NSMO and pertains to borrowers who obtained a mortgage in 2013.

National Mortgage Database Technical Report 4.0 (3/21/2017) provides information about the responses to the NSMO and pertains to borrowers who obtained a mortgage in 2014.

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

Thumbnail image of Survey Letter

English & Spanish versions of the Survey Cover Letter

National Survey of Mortgage Orginiations Questionnaire Thumbnail

Spanish Survey Thumbnail 

Survey - English

Survey - Spanish

 

Related Documents


NMDB 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.​​​​​​​​​​​​​​​​


© 2017 Federal Housing Finance Agency