Annual Performance Plan 508
Annual Performance Plan 508
Annual Performance Plan 508
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Data Sources, Limitations and Advantages, and Validation<br />
This section is organized by strategic goal, measure and program.<br />
Strategic<br />
Goal<br />
Strategic<br />
Objective<br />
Metric<br />
Strengthen the Nation’s Housing Market to Bolster the Economy and Protect Consumers<br />
Establish a sustainable housing finance system that provides support during market disruptions, with a properly<br />
defined role for the U.S. government.<br />
Overall market share of private capital, GSEs, FHA, and VA<br />
• Description: This measure will track the share of the mortgage market for private lenders, governmentsponsored<br />
entities (Fannie Mae and Freddie Mac), and FHA in order to observe FHA’s role in the housing<br />
market and the balance of the housing market<br />
• Data source: FHA Single Family Data Warehouse, Corelogic TrueStandings; Mortgage Bankers Association<br />
of America<br />
• Unit of measurement: Share of market<br />
• Dimension: Percent<br />
• Calculation method: Share of specified mortgage market over share of entire market<br />
• Frequency: (of reporting): Quarterly<br />
• Direction: Downwards<br />
• Data quality (limitations/advantages of the data): We are relying upon CoreLogic TrueStandings loan<br />
servicing data for shares by funding source, and MBa for total market origination volumes. CoreLogic<br />
coverage of the market has slipped in recent years because subscribing lenders have been selling major<br />
servicing portfolios to non-subscribing lenders. CoreLogic is actively recruiting these new non-bank<br />
lenders and re-populating its database for 2012 and 2013. The MBa volumes are estimates and subject to<br />
error as shares of originations coming through different funding channels changes in real time from what<br />
is assumed in the MBa algorithms. Over the last two years, this has led to large revisions in market-size<br />
estimates with the release of the annual HMDA LAR data (in September).<br />
• Measurement Validation, verification, and improvement of measure: Inside Mortgage Finance publishes<br />
its own estimates of agency versus nonagency lending, and we can use that as a reasonability check on<br />
our estimates.<br />
Sequence: 1<br />
148 Section Three: Additional Information
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