In 2013, the Federal Housing Finance Agency and Consumer Financial Protection Bureau are launching a new national mortgage database that will capture detailed data on mortgages in the United States. The data will include each borrower's financial and credit profile, information about the property, the loan's terms, and the loan's payment history. This initiative stems from the alarming lack of data on mortgages and individual borrowers that accompanied the 2008 housing crash.

Some are warning of the database's potential to invade borrowers' privacy, voicing concerns that anyone working at the CFPB could access personal financial information. The CFPB and the FHFA claim they will be “exploring ways to share database information with other federal agencies, academics, and the public,” but that they will take “appropriate precautions” not to compromise any personally identifiable data.

Ballard Spahr Mortgage Banking Practice Leader Richard J. Andreano, Jr., who advises clients on issues of privacy and data security, has doubts about the two agencies' capacity to safeguard private information. “Simple assurances that ‘we’ll take precautions’ frankly are not enough … they owe it to the public to be specific here,” he said.