Mortgage Credit Accessibility Increases in December

Mortgage credit became a little more accessible in December, according to the monthly ""Mortgage Credit Availability Index"":http://www.mba.org/ResearchandForecasts/MCAI.htm from the ""Mortgage Bankers Association (MBA)."":http://mbaa.org/default.htm

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The index score for December is 110.9 compared to the index benchmark of 100 based on March 2012 levels. Credit availability for 2007 would have earned a score of 800 on the scale.

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Relying on data from ""AllRegs,"":http://www.allregs.com/ an industry information provider, the Mortgage Credit Availability Index relies on data regarding credit scores, loan types, loan-to-value ratios, and other underwriting standards at 85 lender and investor companies to determine credit availability across the nation.

The index debuted in June of last year and has displayed readings above 100 each month since.

December's credit availability index is up 0.6 percent from an index reading of 110.2 in November.

Overall, ""[c]redit availability was little changed over the past month,"" according to the MBA.

The index has been hovering around the 110 mark for the past several months, fluctuating slightly with a decrease in November after an increase in October and two straight months of declines in August and September.

The MBA explained with its index release that ""many investors appear to have already made changes in prior months with respect to the new CFPB mortgage regulations.""