Mortgage Credit Availability Rises Slightly in December – NMP Skip to main content

Mortgage Credit Availability Rises Slightly in December

NationalMortgageProfessional.com
Jan 08, 2014

Mortgage credit availability increased slightly in December according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) which analyzes data from the AllRegs Market Clarity product. The MCAI increased 0.6 percent from 110.2 in November to 110.9 in December. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of a loosening of credit. The index was benchmarked to 100 in March 2012. If it had been tracked in 2007, it would have been at a level of roughly 800, indicating the credit was much more available at that time. Credit availability was little changed over the past month. Investors continue to fine-tune credit score and LTV eligibility matrices. Many investors appear to have already made changes in prior months with respect to the new CFPB mortgage regulations.
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