In order to provide mortgage information to policymakers and regulators, the Consumer Financial Protection Bureau and Federal Housing Finance Agency recently announced they have partnered to create the National Mortgage Database.
The database will provide policymakers with information to help support their research efforts and give regulators a better understanding of mortgage and housing trends.
"This partnership between FHFA and CFPB will create a unique resource that benefits the government and public as we seek to answer important questions about how the housing finance market is evolving and changing," said FHFA acting director Edward DeMarco.
Richard Cordray, CFPB director, said that the information in the National Mortgage Database will help people better understand the mortgage market, while aiding the development of adequate consumer protections.
Information available in the database will span from mortgage origination through servicing. Specifically, it will include the borrower's financial and credit profile, the mortgage product and terms, the property purchased or refinanced and the payment history of the loan. This data will be updated each month and will span from 1998 and onward.
