Data Components for Retail Mortgages
Despite the varied and sometimes bespoke nature of some mortgage products, we found that mortgage transaction data and the respective reporting requirements aligned around three main components:
- 1.The Loan
- 2.The Borrower
- 3.The Collateral
Based on these components, as well as taking into consideration the type of data that is needed for both authorities for supervisory purposes, a minimum common set of requirements was developed for the collection of data for retail mortgages. Legislative or regulatory requirements that were jurisdiction-specific were excluded for this exercise.