FHFA, Bureau Release National Survey of Mortgage Originations Dataset for Public Use

The Federal Housing Finance Agency and the Bureau of Consumer Financial Protection released for public use a new loan-level dataset collected through the National Survey of Mortgage Originations designed to provide insights into borrowers’ experiences in getting a residential mortgage.

The NSMO is a component of the National Mortgage Database, a repository of detailed mortgage loan information designed to support policymaking and research efforts and to help regulators better understand emerging mortgage and housing market trends. The NMDB was launched by FHFA and the Bureau in 2012.

In each quarter since 2014, FHFA and the Bureau sent surveys to borrowers who had recently obtained mortgages to gather feedback on their experiences during the process of getting a mortgage, their perception of the mortgage market, and their future expectations. FHFA and the Bureau have been compiling the NSMO survey data and this dataset is the first public release.

“The NSMO data should be very helpful to policymakers, the mortgage industry and researchers in understanding consumer behavior and borrowers’ experiences obtaining a mortgage,” said FHFA Deputy Director Sandra Thompson. “The goal of the survey is to obtain information to help improve lending practices and the mortgage process for future borrowers.”

“These data will allow greater transparency, accountability, and effectiveness around borrowers’ mortgage experiences,” said BCFP Acting Director Mick Mulvaney.

A link to the survey can be accessed at https://www.fhfa.gov/nsmodata.