Real Estate
Join Tom Kelly every Sunday at 9am on KIRO Radio to talk Puget Sound real estate.Conversation starters
Most popular
Bonneville Seattle is raising funds for the construction of a second Fisher House at Joint Base Lewis-McChord in Tacoma and we need your help.Agencies partner on national mortgage database
November 5, 2012 @ 7:30 am
The Federal Housing Finance Agency (FHFA) and Consumer Financial Protection Bureau (CFPB) announced that they are partnering to create a National Mortgage Database, which will be filled with detailed mortgage loan information.
The database will include information that spans the life of a mortgage, including its origination and servicing, as well as information on the borrower's financial and credit profile, the loan terms, the property purchased or refinanced, and payment history of the loan.
The database will not have personally identifiable information in it, so individuals will not be able to be identified by anyone accessing it.
The purpose behind the database is for policymaking and research efforts to better outline emerging mortgage and housing market trends, according to the agencies.
"In order to understand what is going on in the mortgage marketplace and develop appropriate consumer protections, we must have the best facts and data," says CFPB Director Richard Cordray. "This database will be a valuable tool for regulators and researchers, and we look forward to partnering with FHFA on this important work."
Bonneville Media encourages site users to express their opinions by posting comments. Our goal is to maintain a civil dialogue in which readers feel comfortable. At times, the comments can descend to personal attacks. Please do not engage in such behavior. We encourage your thoughtful comments which: have a positive and constructive tone, are on topic, are respectful toward others and their opinions. Bonneville reserves the right to remove comments which do not conform to these criteria.