Online database lets users view mortgage data


The Consumer Financial Protection Bureau recently launched an online database application that lets people track trends in local mortgage markets.

The app uses information made public under the Home Mortgage Disclosure Act and stored in an online database. Users can view statistics for mortgage applications filed from 2010 to 2012, including information regarding where the documents originated from and the purposes and types of loans requested. Interactive features include the ability to view data points through charts and graphs. The public can use the online database software to track national trends or narrow their focus to specific metropolitan areas.

Online database highlights local markets

“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,” CFPB director Richard Cordray said in a press 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.”

A mapping tool lets people see where mortgage applications are up, while an interactive graph breaks down the number of home loans by location and purpose to show where new loans are being issued and how many mortgages in an area are being refinanced. Loan rates through the Federal Housing Administration and the Department of Veterans Affairs also can be charted through the online database.

Mortgage lending rose about 38 percent last year as more people sought to refinance their loans under more favorable term.