- Data "spanning the life" of a mortgage loan.
- Specific mortgage products and their terms.
- Properties bought across the U.S.
- Properties refinanced across the U.S.
- A monthly mortgage survey run by the FHFA.
"The database will not contain personally identifiable information and appropriate precautions will be taken by the agencies to ensure that individual consumers cannot be identified through the database or through any datasets that may be made available to researchers or the public."The CFPB says it needs specific credit and payment history data to properly monitor how mortgage products are performing and see whether they're a good deal for consumers. The survey aspect will help regulators understand how consumers make home-buying decisions and what they see as risks associated with buying a home. "To understand what is going on in the mortgage marketplace and develop appropriate consumer protections, we must have the best facts and data," CFPB Director Richard Cordray says. "This database will be a valuable tool for regulators and researchers and we look forward to partnering with FHFA on this important work."