CFPB launches mortgage delinquency tracker

by Francis Monfort01 Nov 2017
The Consumer Financial Protection Bureau (CFPB) has launched the Mortgage Performance Trends, an online tool that tracks delinquency rates nationwide.

Aside from national data, the tracker also provides data on mortgage delinquency rates for 50 states and the District of Columbia at the county and metro-area level featured through interactive charts and graphs.

The tool looks at two general categories of mortgage delinquency rates. The first is comprised of those who are 30 to 89 days behind on their mortgage payments, while the second category looks at serious delinquencies, which are those more than 90 days overdue.

"Measuring the number of consumers who have fallen behind on their mortgage payments is a telling barometer of the health of mortgage markets locally and nationally," said CFPB Director Richard Cordray. "This rich information source identifies mortgage delinquency rates down to the county and metro-area level, making it a useful public tool."

The CFPB said the data used in the tool comes from the National Mortgage Database. The database was launched in 2012 by the CFPB and the Federal Housing Finance Agency (FHFA) to support policymaking and research and help regulators better understand emerging mortgage and housing market trends.

Information included in the database span the life of a mortgage loan from origination through servicing. The sample is nationally representative of all outstanding, closed-end, first-lien mortgages for one-to-four family residences.

CFPB said the tracking tool has certain mechanisms in place to protect personal identity. All records from the National Mortgage Database are stripped of certain information before they are received by the CFPB of the FHFA. These data include names, addresses, and Social Security numbers.


Related stories:
Mortgage delinquency rate dips in July
Home-related loan delinquencies return to normal levels