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[OT] New RFS Database to be Issued.

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Editing of the RFS microdata base continues as the Census Bureau is preparing the software and programs for generating the multivariate tables that will form the body of the final hardcopy (and Internet) versions of the 2001 Residential Finance Survey report. We had released the data base as early as possible and expected to be uncovering problems as the Census Bureaus reviews draft tables and as users report to us possible problems they have encountered. We have already issued revised version in response to user's concerns. The Census Bureau will continue to respond to user's concerns until the final tables are prepared. At that point, we would expect that almost all errors will have been identified through table review or user input.

Last week, a user alerted us to some unusual values for ORIGAMT1 for multifamily ( MF 5+) properties that were originated in 2000 and 2001. The focus was on MF cases with ORIGAMT1/NUMUNITS over $200,000. There were 22 cases for 2001 originations and 40 cases for 2000 originations. The Census Bureau traced these values back to the original questionnaires or electronic data submissions and found that many of the problems were caused by decimal slides or by spurious leading digits. These cases are now being corrected and a new data file should be posted in the next few days.

As a follow-up to these problems, the Census Bureau is now looking at all MF origiantions with high origination values per units, i.e., ORIGAMT1/NUMUNITS > $200,000. If needed, a new data base will be issued if these values need to be changed. Furthermore, editing will continue as part of the process of generating the final report so it is possible that other versions of the file will be released in the future.