Agency unveils online tool that shows loan performance of residential mortgages at the national and state levels and for the 100 largest metropolitan areas
The Federal Housing Finance Agency (FHFA) updated the National Mortgage Database (NMDB®) Aggregate Statistics series to include new quarterly data on the loan performance of residential mortgages through the second quarter of 2024. The Agency also released a new interactive data visualization dashboard tool that enables users to more easily access the loan performance data.
“The new dashboard makes it easier for the public to quickly access and review mortgage performance statistics at the national and state levels and for the 100 largest metropolitan areas,” said Dr. Anju Vajja, Deputy Director for FHFA’s Division of Research and Statistics. “The NMDB quarterly data releases allow the public to monitor and more closely examine the data to identify emerging mortgage market trends as they develop.”
The NMDB® Residential Mortgage Performance Statistics show the quarterly loan performance of outstanding residential mortgages through the end of the second quarter of 2024.
Highlights include:
- 0.1 percent of all outstanding mortgages were in the process of foreclosure, bankruptcy, or deed-in-lieu at the end of the second quarter of 2024. This level is unchanged from recent quarters and well below the high of 3.5 percent reached in the fourth quarter of 2010 and first quarter of 2011.
- An additional 0.6 percent of all outstanding mortgages were 90 days or more past due but not in a foreclosure, bankruptcy, or deed-in-lieu process. Louisiana (1.3%), Mississippi (1.1%), and the District of Columbia (1.1%) have the highest share of loans 90 days or more past due.
- 0.6 percent of all outstanding loans were in forbearance at the end of the second quarter of 2024. The metropolitan areas with the highest forbearance rates are Dallas-Plano-Irving, TX (5.3%), Louisville-Jefferson County, KY-IN (4.7%), and Houston-The Woodlands-Sugar Land, TX (3.7%).
NMDB Aggregate Statistics include summary statistics from the NMDB data. The NMDB is a database of closed-end first-lien residential mortgages that contains a nationally representative sample of mortgages in the United States. To make NMDB statistics available to the general public, FHFA produces the NMDB Aggregate Statistics. More information about the NMDB Aggregate Statistics is available on the FHFA website: https://www.fhfa.gov/data/national-mortgage-database-aggregate-statistics.
Publication of aggregate statistics from NMDB fulfills the statutory requirements of section 1324(c) of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended by the Housing and Economic Recovery Act of 2008. The statute requires FHFA to conduct a monthly mortgage market survey to collect data on the characteristics of individual mortgages, both Enterprise (mortgages secured by Fannie Mae or Freddie Mac) and non-Enterprise, and to make the data available to the public while protecting the privacy of the borrowers.