This report is an update to CFPB’s May 2020 report and December 2020 blog regarding the effects of COVID-19 on credit applications (or credit inquiries). It examines the different paths of recovery for types of credit applications.
Research and reports
We study how consumers interact with financial products and services to help identify potential problems in the marketplace and achieve better outcomes for all. Review our reports and analyses to help inform your decisions, policies, and practices. And, see reports that we periodically prepare about the CFPB.
Data point: Mortgage trends
This Bureau Data Point article describes 2019 mortgage market activity and trends using data reported under the Home Mortgage Disclosure Act (HMDA).
A new analysis investigating how characteristics of mortgages, borrowers, and lenders vary across AAPI subgroups, based on the 2020 Home Mortgage Disclosure Act (HMDA) data.
This report explores the trends of commercial credit reporting on consumer credit.
A brief overview of the general lending patterns of HMDA reporters with the closed-end origination volumes around the new HMDA reporting threshold set by the 2020 HMDA Rule.
This report analyzes manufactured home loans, using two new fields in the Home Mortgage Disclosure Act (HMDA) data to understand the manufactured housing finance market and compare chattel loans and mortgages.
A new analysis in our Making Ends Meet survey series looks at how consumers use payday, auto title, and pawn loans.
This third COVID-19 Special Issue Brief describes the characteristics of mortgage borrowers, including demographics, during the COVID-19 pandemic. The report focuses on borrowers with loans that are in forbearance or delinquent as reported through March 2021.
This report provides a foundational set of benchmarks of the financial well-being of Hispanics ages 18 and older in the United States in 2018, as measured by the CFPB Financial Well-Being Scale, that practitioners and researchers can use in their work.
A new analysis examines the early impact of COVID-19 on consumers’ finances, finding that, in general, they were more able to stay on top of finances in June 2020 than June 2019.
This report summarizes some of the relevant data and research on the impact of the pandemic on the rental and mortgage market, and particularly its impact on low income and minority households. 11 million renter and homeowner households were significantly overdue on their regular housing payments as of December 2020, placing them at heightened risk of losing their homes to foreclosure or eviction over the coming months. Black and Hispanic households were more than twice as likely to report being behind on their payments than white households.
The Office of Research released a research brief summarizing the results of an online experiment exploring how the amount of available savings may influence decisions about using savings to pay down credit card debt.
The 2020 Financial Literacy Annual Report of the Consumer Financial Protection Bureau details the Bureau’s financial literacy activities and strategy to improve the financial literacy of consumers. Overall, this report describes the Bureau’s efforts in a broad range of financial literacy areas relevant to consumers’ financial lives.
This report explores the prevalence of actual payment information in consumer credit reporting.
Debt and delinquency after military service: A study of the credit records of young veterans in the first year after separation
This report is a follow-on study to our Financially Fit research report. Rather than focus on the credit histories of young servicemembers, this study takes a closer look at the credit records of young veterans in the first year after separation from the military.
2020 Bureau of Consumer Financial Protection (CFPB/BCFP) report on college credit card agreements.
Children’s Savings Account (CSA) programs provide children and families with long-term savings or investment accounts and incentives to save for postsecondary education.
This Data Point provides new information about the types of changes that occur during the mortgage origination process.
Integrated Mortgage Disclosures Under the Real Estate Settlement Procedures Act (Regulation X) and the Truth in Lending Act (Regulation Z) Rule Assessment
This report describes the TRID Rule, the market, and the Bureau’s findings on the Rule’s effectiveness in meeting factors outlined in Dodd-Frank.
The Office of Research released a research brief that explores consumers’ perceived financial preparedness, saving habits, and financial security.
This second COVID-19 Special Issue Brief describes trends in delinquency rates, payment assistance, credit access, and account balance measures with a focus on the period since the start of the COVID-19 pandemic.
An updated review of the new and revised data points in HMDA: Further observations using the 2019 HMDA data
The goal of this article is to help the public become more familiar with the new and revised data points in the 2019 HMDA data and to provide some initial observations about the nation’s mortgage market in 2019 using those new and revised data points. As in last year’s article, the focus of this article is on cross-sectional analyses, i.e. using the data contained in one year’s loan application registrar (LAR) to explore various patterns and relationships between different data fields to provide some initial observations.
The Office of Research released a report that synthesizes the rigorous research of programs and strategies aiming to help consumers achieve greater liquid savings.
This report uses a representative sample of young servicemembers’ credit reports to show how their credit histories evolve from the time they turn 18 until their mid-twenties. It also compares servicemembers to a cohort of same-age civilians.
This report summarizes the initial results from the Making Ends Meet survey, a nationally representative survey of adults with a credit record developed by the CFPB’s Office of Research.
Quarterly consumer credit trends reports focus on a specific consumer financial product or issue using a longitudinal, nationally representative sample of de-identified credit records maintained by a nationwide consumer reporting agency.