RSSThe Consumer Financial Protection Bureau and Federal Housing Finance Agency recently published mortgage loan data through the National Survey of Mortgage Originations. The data included updated mortgage performance and credit information for mortgage borrowers from 2013-21.
Seventy percent were “very satisfied” with their property appraisal while 23 percent were “somewhat satisfied,” according to the July 1 press release. Only six percent “were not at all satisfied,” according to the report. Half of respondents were unwilling to move from their primary residence, while another 20 percent were unsure about moving. Another 25 percent “were willing and able to move,” according to the report, while 5 percent “were willing but unable to move.”
Since 2014, the FHFA and CFPB have sent quarterly surveys to borrowers who recently secured mortgages to gauge their experiences during the mortgage process, perceptions of the mortgage market and future expectations. The press release included results from three survey questions first asked of mortgage buyers in 2021.
The survey is a part of the National Mortgage Database, the first repository of detailed mortgage loan data intended to support policymaking and research to assist regulators in better understanding emerging mortgage and housing market trends.
FHFA Associate Director Saty Patrabansh said the survey “provides a unique view of mortgage borrowers, helping illustrate underlying trends that can identify emerging issues in mortgage lending. The data released today will provide insights into consumer behavior and borrowers’ experiences, leading to better analysis of how mortgage processes could be improved for future borrowers.”
