The Consumer Financial Protection Bureau on Wednesday launched an online tool to provide consumers with easy access to public mortgage information collected under the Home Mortgage Disclosure Act.
Related: FFIEC Posts HMDA Data
The information provided by the CFPB allows consumers to view 2012, 2011 and 2010 metropolitan statistical area and county data that includes mortgage applications and originations, purchase and refinance loans, and loans insured or guaranteed by government programs offered by the Federal Housing Administration, the Department of Veterans Affairs and others.
“Just as the real estate motto ‘location, location, location’ was true before the recent financial crisis, it was true for the crisis. Every community was affected differently,” said CFPB Director Richard Cordray in a release.
“Our tool puts valuable information into the hands of the public in an accessible way, so they can understand what is happening in their local mortgage markets,” Cordray said.
“A more transparent mortgage market will lead to a better marketplace and better outcomes for consumers,” he said.
The CFPB does not include information on individual lenders on its site, instead referring consumers to the Federal Financial Institutions Examination Council’s website for additional statistics.