Survey results show mortgage borrowers’ views of appraisals, willingness to move, disability accommodations

Details on appraisals, willingness to move, and disability accommodations are covered in updated loan-level data released Monday by two federal agencies collected through the National Survey of Mortgage Originations (NSMO).

The data also provide, according to the Consumer Financial Protection Bureau (CFPB) and the Federal Housing Finance Agency (FHFA), updated mortgage performance and credit information for a nationally representative sample of mortgage borrowers from 2013 to 2021, the agencies said.

The NMSO found, the agencies said:

  • Seventy percent of respondents reported being very satisfied with their property appraisal, 23% reported being somewhat satisfied, and 6% were not at all satisfied.
  • Fifty percent of respondents reported being unwilling to move, 20% were unsure about moving, 25% were willing and able to move, and 5% were willing but unable to move.
  • Eight percent of borrower respondents selected “accommodations for people with disabilities” as an important factor in their choice for a mortgage lender/borrower.

The NMSO collected data through quarterly surveys to borrowers who recently obtained mortgages, an effort the agencies have undertaken for the last 10 years. The surveys, the agencies said, gather feedback on borrowers’ experiences during the mortgage process, their perceptions of the mortgage market, and their future expectations. Monday’s release adds one additional year of new mortgage data through 2021, the agencies said.

CFPB and FHFA Release Updated Data from the National Survey of Mortgage Originations for Public Use

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