ML-Implode News - FHFA, CFPB to Cooperate on National Mortgage Database

Two federal agencies announced on Thursday that they are working together to create the first comprehensive repository of detailed mortgage loan information.Â Once in place, the Federal Housing Finance Agency (FHFA) and the new Consumer Financial Protection Bureau (CFPB) will use the National Mortgage Database to support their policymaking and research efforts and to gain a better understanding of emerging mortgage and housing trends.
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The database will be built by matching a nationwide sampling of credit bureau files on borrower's mortgages and payment histories with informational files such as the Home Mortgage Disclosure Act (HMDA) database, property valuation models, and other data files to create a comprehensive picture for each mortgage. Work has begun on the project which is expected to be completed next year. FHFA and CFPB said they are committed to exploring ways to share the database with other agencies, academics, and the public once it is complete.

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FHFA, CFPB to Cooperate on National Mortgage Database