Industry News

Mortgage Credit Availability Declines

Phil Hall
Sep 12, 2019
The Fannie Mae Home Purchase Sentiment Index (HPSI) declined for the second consecutive month

The level of mortgage credit availability was on the decline last month, according to new data from the Mortgage Bankers Association (MBA).
 
The trade group’s Mortgage Credit Availability Index (MCAI) dropped by 3.9 percent to 181.7 in August. The Conventional MCAI decreased 3.6 percent, and its component indices also fell: the Jumbo MCAI was 3.2 percent lower and the Conforming MCAI was 4.3 percent lower. The Government MCAI took a 4.1 percent slide.
 
“Credit supply declined across the board in August, even as mortgage rates fell and application activity picked up, particularly for refinances,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting. “Last month’s decrease was the largest since December 2018, and also the first tightening we have seen for conventional loans all year. We anticipate some weakening of the job market in the year ahead as economic growth cools. It’s possible some lenders may be tightening credit in expectation of a slowdown.”
The level of mortgage credit availability was on the decline last month, according to new data from the Mortgage Bankers Association (MBA)
 
Link copied
Published
Sep 12, 2019
Get the NMP Daily
Courts
Triumph In Texas: Combatting 'Pay-to-Pay' Fees

Bailey Glasser secures class action victory against fees for paying mortgages by phone.

Bailey & Glasser LLP, representing a group of consumers who were unfairly charged fees solely for making phone payments on their mortgages, achieved a substantial summary judgment triumph in a class action case in a federal district court in Houston, Texas. The legal ac...

Continue reading
Industry News
Fannie Mae Introduces Spanish-Language Homebuyer Education Program

The new platform, HomeView en Español, aims to bridge language barriers hindering Hispanic-Americans from purchasing homes..

Fannie Mae has unveiled HomeView en Español, a digital platform tailored to provide Spanish-speaking consumers with accessible information on financial literacy and homeownership. The platform, available 24/7, allows users to either independently navigate the content or seek...

Continue reading
Renew your NMLS License — for free.

Enjoy access to a free NMLS renewal class when you attend an in-person event.

Find an event
More from
Industry News
Fannie Mae Introduces Spanish-Language Homebuyer Education Program

The new platform, HomeView en Español, aims to bridge language barriers hindering Hispanic-Americans from purchasing homes..

Industry News
Sep 29, 2023
Layoffs At Better.com

After a rocky market debut, Better.com has laid off staff.

Industry News
Sep 25, 2023
CFPB Issues Guidance On AI In Credit Underwriting

Creditors must provide specific and accurate reasons for credit denials, even with complex AI models.

Industry News
Sep 19, 2023
Intercontinental Exchange Completes Black Knight Acquisition; Births Dark Matter Technologies Under Constellation Software

Rich Gagliano takes the helm at Dark Matter Technologies, poised to lead the future of Empower LOS with a 1,300-strong team, blending startup agility with decades of industry experience.

Industry News
Sep 18, 2023
FHFA Invites Public Engagement On Modernized Credit Score Transition

Stakeholder forums and listening sessions planned to ensure seamless rollout; extended timeline for bi-merge credit report requirement in play.

Industry News
Sep 11, 2023
Desperation Drives Difficulty in Closing Mortgages in California

Analysis reveals California among top 20 toughest states for mortgage closures.

Industry News
Sep 11, 2023