CFPB & FHFA news release releases publicly available loan origination data collected through the National Survey of Mortgage Originations | Consumer Protection Agency

Washington, DC – The Consumer Financial Protection Bureau (CFPB) and the Federal Housing Finance Agency (FHFA) today released updated data for public use collected from the National Survey of Mortgage Originations (NSMO). The database also provides updated mortgage and credit information for a national sample of borrowers from 2013 to 2020.

Highlights from the updated data are:

  • The COVID-19 pandemic revealed the experience of mortgage lenders in 2020. The highest percentage of borrowers reported that the lack of online mortgage documents was important to them in in 2020 (48 percent) than in 2019 (42 percent). More borrowers reported that the closing of mortgages did not happen as scheduled in 2020 (21 percent) than in 2019 (17 percent).
  • Foreign borrowers, especially those who refinanced a loan, responded to the low interest rates in 2020. The group of borrowers who confirmed their familiarity with the available interest rates increased from 55 percent in 2019 to 69 percent in 2020. They received the lowest interest rate for which they could qualify increased from 67 percent in 2019 to 75 percent in 2020.
  • Borrowers who refinanced in 2020 were richer than those who refinanced in 2019:
    • A higher share reported their household income was $175,000 or higher in 2020 (29 percent) than in 2019 (20 percent).
    • Similarly, a higher share indicated that they owned stocks, bonds, or mutual funds in 2020 (53 percent) than in 2019 (43 percentage).
    • Accordingly, 76 percent of borrowers who refinanced were not worried about qualifying for a mortgage in 2020, up from 66 percent in 2019.

“This year’s research clearly shows the impact of the pandemic and low interest rates on the mortgage market in 2020,” said Mark McArdle, CFPB Assistant Director for Mortgage Markets. “As in previous years, these data can help us better understand policies, identify specific problems as well as opportunities for industries to better serve consumers.”

“The data released today provides a clear picture of how borrowers feel about the mortgage process during the 2020 COVID pandemic,” said Saty Patrabansh, FHFA Associate. Director for the Office of Records and Records. “These data should help researchers and policymakers understand the full experience of mortgage borrowers and identify what challenges may still exist in mortgage lending.”

The NSMO is part of the National mortgage database (NMDB®), the first collection of detailed mortgage data designed to support policy and research efforts and help regulators better understand mortgage and housing trends.

Since 2014, the FHFA and the CFPB have provided this survey quarterly to borrowers who have recently received a mortgage. These surveys gather feedback on borrowers’ experiences with the mortgage process, their perceptions of the mortgage market, and their future expectations. The responses to these surveys are made public each year.

The NMDB is designed to fulfill the requirements of the Housing and Economic Recovery Act (HERA) and the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). HERA mandated that FHFA conduct a monthly mortgage survey of all residential mortgages, including those that are not eligible for purchase by Fannie Mae and Freddie Mac. The Dodd-Frank Act directed the CFPB to monitor the primary mortgage market, in part through the use of survey data.

Access to the NSMO User Guide File .

For answers to questions about the Federal Housing Finance Agency, please contact Adam Russell at

For answers to questions about the Federal Housing Finance Agency, please contact Adam Russell at


The Consumer Financial Protection Bureau is a 21st century agency that implements and enforces federal financial laws and ensures that markets for financial products are fair, transparent, and competitive. For more information, visit

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