MBA: Jumbo loans drive mortgage credit availability

mortgage credit availability maintained its slight upward trajectory in July, increasing .5% from 115.8 in June to 116.4 in July, according to the Mortgage Credit Availability Index, a report from the.

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Lending standards tightened in February, especially for conforming and super-conforming (jumbo) loans. The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) declined by 1.2 percent in February. The composite index fell to 180.7 from 182.9 in January while some components retreated to multi-month lows.

Conforming home loan vs a jumbo home loan The report showed that the availability of jumbo mortgage credit increased for the sixth straight month, rising to its highest level since 2011.. MBA: Jumbo loans drive mortgage credit.

Mortgage credit availability. increase, MBA writes, was a rise in the number of jumbo adjustable rate mortgage (ARM) programs. Many investors added new jumbo hybrid ARM products including 5/1, 7/1,

Access to jumbo mortgage loans rebounded from a loss in February to drive the Mortgage Bankers Association’s (MBA’s) Mortgage credit availability index (mcai) higher in.

The Mortgage Credit Availability Index (MCAI) decreased 0.8 percent to 182.1 in September, as shown in a recent report by the Mortgage Bankers Association (MBA). The index-which collates data.

Mortgage credit availability maintained its slight upward trajectory in July as a boost in the number of jumbo adjustable rate mortgage programs pushed the index higher.

Within the conventional category, credit for jumbo loans increased by 0.6% while credit for conforming loans fell by 0.1%. "Overall credit availability increased only slightly in June over May’s levels," says Joel Kan, associate vice president of economic and industry forecasting for the MBA, in a release.

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These metrics and underwriting criteria for over 95 lenders/investors are combined by MBA using data made available via the AllRegs Market Clarity product and a proprietary formula derived by MBA to calculate the MCAI, a summary measure which indicates the availability of mortgage credit at a point in time.