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 2017 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.
HARP - the Home Affordable Refinance Program was created by FHFA specifically to help homeowners current on their mortgage payments, but underwater on their mortgages.
FHFA economists and policy experts provide reliable research and policy analysis about critical topics impacting the nation’s housing finance sector.
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Glossary - Spanish / English
Language Translation Disclosure
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)  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. 
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.
National Mortgage Database Technical Report 2.3 (updated 4/18/2018) 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.
National Mortgage Database Technical Report 5.0 (11/17/2017) provides information about the responses to the NSMO and pertains to borrowers who obtained a mortgage in 2015.
National Mortgage Database Technical Report 6.0 (4/18/2018) provides information about the responses to the NSMO and pertains to borrowers who obtained a mortgage in 2016.
NMDB Staff Working Paper 18-01: Mortgage Experiences of Rural Borrowers in the United States: Insights from the National Survey of Mortgage Originations (3/14/2018) Using data from the National Survey of Mortgage Originations (NSMO), this paper constrasts the characteristics, experiences, and loan terms of mortgage borrowers in completely rural counties to those borrowers in metropolitan and other non-metropolitan areas.
NMDB Staff Working Paper 18-02: First-Time Homebuyer Counseling and the Mortgage Selection Experience in the United States: Evidence from the National Survey of Mortgage Originations (3/14/2018) Using data from the National Survey of Mortgage Originations (NSMO), this paper contributes to the literature on homebuyer education and counseling (HEC) by providing evidence on the benefits of HEC to mortgage borrowers in aspects other than mortgage performance, and evaluating HEC in general, not just one specific program.
For information about completing the survey please call 855-339-7877.
English & Spanish versions of the Survey Cover Letter
Survey - English
Survey - Spanish
NMDB® Technical Report 6.0 (4/18/2018)
NMDB® Technical Report 5.0 (11/17/2017)
NMDB® Technical Report 4.0 (3/21/2017)
NMDB® Technical Report 3.1 (updated 3/21/2017)
NMDB® Technical Report 2.3 (updated
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)
 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.
 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.
© 2018 Federal Housing Finance Agency