Common Ground: The Need for a Universal Mortgage Identifier

22 Pages Posted: 6 Oct 2015

See all articles by Matthew McCormick

Matthew McCormick

Federal Reserve Banks - Federal Reserve Bank of Dallas; Government of the United States of America - Office of Financial Research

Lynn Calahan

Government of the United States of America - Office of Financial Research

Date Written: December 5, 2013

Abstract

The U.S. mortgage finance system is a critical part of our nation’s financial system, representing 70 percent of U.S. household liabilities. It is also highly complex, with many finance channels, participants, and regulators. The data produced by this system reflect that complexity; unfortunately, no single identifier exists to link the major loan‐level mortgage datasets. The establishment of a single, cradle‐to‐grave, universal mortgage identifier that cannot be linked to individuals using publicly‐available data would significantly benefit regulators and researchers by enabling better integration of the fragmented data produced by the U.S. mortgage finance system. Such an identifier could additionally serve as the foundation of a system that could benefit private market participants, as long as such a system protected individual privacy.

Suggested Citation

McCormick, Matthew and Calahan, Lynn, Common Ground: The Need for a Universal Mortgage Identifier (December 5, 2013). Office of Financial Research Working Paper No. 15-12, Available at SSRN: https://ssrn.com/abstract=2648455 or http://dx.doi.org/10.2139/ssrn.2648455

Matthew McCormick (Contact Author)

Federal Reserve Banks - Federal Reserve Bank of Dallas ( email )

2200 North Pearl Street
PO Box 655906
Dallas, TX 75265-5906
United States

Government of the United States of America - Office of Financial Research ( email )

717 14th Street, NW
Washington DC, DC 20005
United States

Lynn Calahan

Government of the United States of America - Office of Financial Research ( email )

717 14th Street, NW
Washington DC, DC 20005
United States

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