WHAT IS THE Mortgage Bankers Association's National Delinquency Survey or NDS

The Mortgage Bankers Association’s National Delinquency Survey is a voluntary survey of over 120 mortgage lenders that asks about mortgage delinquencies.

BREAKING DOWN Mortgage Bankers Association's National Delinquency Survey or NDS

The Mortgage Bankers Association’s National Delinquency Survey is a seasonally adjusted report. The Mortgage Bankers Association surveys mortgage lenders, including mortgage banks, commercial banks, thrifts, savings and loan associations, subservicers, credit unions and life insurance companies, in order to measure the overall non-payment of mortgage loans. The Mortgage Bankers Association’s National Delinquency Survey collects data from the Census Bureau and other industry data. The quarterly reports produced from this survey include residential mortgage delinquency and foreclosure rates at the national, regional and state levels.

In the publication, the Mortgage Bankers Association provides data on delinquency and foreclosure measures, fixed and adjustable rate products, and further loan types, including prime, subprime, Veteran Affairs loans and Federal Housing Administration loans. Concerning foreclosures, the publication categorizes its information into new foreclosures, foreclosure inventory, total delinquencies, delinquency by past due category, and seriously delinquent loans. The total number of loans serviced each quarter is also included in the data collected.

The Mortgage Bankers Association and What It Does

A national member-based nonprofit organization based in Washington D.C., the Mortgage Bankers Association advocates for the real estate finance industry. The organization works with local and state mortgage bankers associations around the country and holds conferences for members, offering professional development and networking opportunities.

After the 2007-2008 Mortgage Crisis, mortgage lenders as a whole came under intense scrutiny. As a result of the recession and subprime mortgage crisis, the government passed new stricter regulations for the real estate financing industry, such as the Mortgage Reform and Anti-Predatory Lending Act, as well as the Truth in Lending Act. The Mortgage Bankers Association has since worked to combat the negative sentiment around the real estate financing industry, launching multiple PR and advocacy campaigns. The campaigns target potential homebuyers and professionals within the real estate finance industry, conveying the message that the mortgage industry is more transparent and safe for investors than it was before.

It is important to note that mortgage bankers differ from mortgage brokers, with which they are often confused. The Mortgage Bankers Association represents only mortgage bankers. A mortgage banker is an institution or individual who closes and funds mortgage loans in their own name. The company, individual or institution that originates mortgages is the mortgage banker. Mortgage bankers are distinct from mortgage brokers, who facilitate a mortgage transaction between a mortgage banker and a borrower for a fee. Where the Mortgage Bankers Association represents mortgage bankers, the National Association of Mortgage Brokers (NAMB) represents mortgage brokers.