At the beginning of the month, Freddie Mac started releasing loan level data on newly issued pools. Analysts said that the additional information is welcome but will not have as much impact as the enhanced pool level data Freddie Mac released in mid-2003. The loan level data disclosed includes credit score, original loan amount, loan age and loan purpose, among other information. For the entire list of new disclosures, refer to ASR 09/26/05.
Art Frank, head of mortgage research at Nomura Securities, said that to determine the value of the new data, they had looked at some of the firm's own mortgage pools. "Though it is of some value for new pools to have loan level information, it's not of enormous significance," Frank said. For instance, Frank said that having loan level data could show that high LTV investor loans have more call protection compared to low LTV investor loans. He added that since this type of data is currently available in non-agencies, they had an idea of what the application and relevance would be in agency land.