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Tag Archives: Credit Availability

Mortgage Credit Availability Increases in January

The Mortgage Bankers Association (MBA) reported Thursday that its Mortgage Credit Availability Index (MCAI), which analyzes data from AllRegs' Market Clarity, increased 1.8 percent to 117.8 last month. All of the component indices measured by MBA increased month-over-month, with the gauge of conventional loan availability climbing 3 percent and the government index rising 0.9 percent.

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Report: Five Major Developments to Bolster Housing in 2015

With 2015 less than two weeks underway, Fitch Ratings is the latest forecaster predicting great things for housing in the coming year. However, unlike other commentators, whose projections were based on encouraging market trends, the ratings agency says it's a combination of recent government actions that reinforces its view.

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High-LTV Programs Lift Mortgage Availability in December

The Mortgage Bankers Association (MBA) reported Thursday that its Mortgage Credit Availability Index (MCAI) edged up to a reading of 115.7 in December. The clear driver behind the increase was an announcement earlier in the month that both Fannie Mae and Freddie Mac are launching new 97 percent loan-to-value (LTV) mortgage programs for qualifying homebuyers, said Mike Fratantoni, MBA's chief economist.

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Americans’ Economic Confidence Grows, but Housing Doubts Persist

Out of a group of 1,000 Americans polled in Fannie Mae's December National Housing Survey, 41 percent said they now believe the economy is "on the right track," up from 36 percent in November, the company reported. In contrast to December's slightly more positive economic attitudes, consumer sentiment toward the housing market remained subdued for another month.

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Mortgage Denials Point to Much Tighter Market

In a report released Tuesday, researchers at the Urban Institute (UI) say that previous "traditional" observations of mortgage denial rates (calculated by dividing the number of denied mortgages by the total number of applications) provide an inaccurate look at credit availability because they include applicants with near-perfect credit profiles—those who are unlikely to be turned down for most products, in other words.

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Realtors Urge Lawmakers to Think of First-Time Homebuyers

In a testimony before the Senate Banking Committee's subcommittee on housing, Mabel Guzman, 2014 chair of the National Association of Realtors' (NAR) Conventional Finance and Lending Committee, highlighted some of the biggest challenges constraining homeownership.

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Lenders Boost Credit Availability for Jumbo Loans

The Mortgage Bankers Association's (MBA) Mortgage Credit Availability Index nudged up 1.2 percent in November, totaling 114.6 for the month. MBA's chief economist, Mike Fratantoni, said last month's uptick mostly came from the addition of jumbo loan programs that allow cash-out refinancing.

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Lenders: Increasing Mortgage Availability Not Worth Regulatory Risk

In a poll conducted by the Collingwood Group throughout October, 71 percent of mortgage lenders said the odds of them lowering credit score requirements for borrowers are between "somewhat" and "extremely unlikely," with several saying they feel their standards are already relatively low and that they generally follow the credit parameters set by agency investors.

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BofA Chief: Bank Has No Plans to Loosen Mortgage Standards

Speaking at an investor conference in New York, BofA chief Brian Moynihan said his firm—frequently listed among the top five mortgage lenders in the nation—has little incentive "to try to create more mortgage availability where the customers are susceptible to default."

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