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Monday, April 21, 2014

FHFA to Expand National Mortgage Database

The Federal Housing Finance Agency is seeking to expand the national mortgage database it created with the CFPB in 2012.

Starting May 27, the FHFA said, it would begin collecting additional, more specific information on borrowers and loans, including demographic and personal contact information for borrowers and their households, loan-level data on mortgage performance and other credit accounts held by the borrowers. The FHFA also said it would include characteristics of transactions, mortgage products and properties.

“In most cases, records will not contain personal identifiers,” the FHFA said in a Federal Register filing, noting that the agency will only use personal identifiers to match individual records with other datasets.

The agency will accept comments on the proposal through May 16. ABA will examine the proposal closely for possible effects on bank reporting requirements and privacy concerns for bank customers.

Read the proposal.

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