MBA: Jumbo loans drive mortgage credit availability

Mortgage Credit Availability Increased in April. WASHINGTON, D.C. (May 9, 2019) – Mortgage credit availability increased in April according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) that analyzes data from Ellie Mae’s AllRegs Market Clarity business information tool.

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“Credit availability increased in February as a result of new jumbo offerings brought to the market, both for agency jumbo and non-agency jumbo programs,” Mike Fratantoni, MBA chief economist.

Mortgage lending standards loosened in March, as a swell in jumbo credit helped drive an expansion in availability for the third straight month, according to the Mortgage Bankers Association. The MBA’s Mortgage Credit Availability Index increased to 182.1 after ending 2018 with a drop off at 175. It also marks a 4.2 point rise year-over-year.

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The Mortgage Bankers Association said its Mortgage Credit Availability Index (MCAI) moved lower in August due to a decline in its jumbo loan component index. The composite MCAI decreased 0.3 percent to 183.5. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit.

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Jumbo Loans . Jumbo Mortgage Loans refer to all loans that exceed Fannie Mae’s loan limits. Typically, these loans are sold to institutional investors and carry a higher interest rates over conventional loans. These program requires a larger down payment and are more commonly used to purchase or refinance single-family homes or condos .

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"Credit supply increased 2% in April and was driven by a 7% gain in the jumbo index, which reached its highest level since the beginning of the MCAI in 2011," Joel Kan, an MBA economist, said in a.

Jumbo loans drive mortgage credit availability in April by Steve Randall. MBA reports a new high for its Jumbo MCAI. Top Originator: cathy haddad fired herself in order to get to $94 million by.

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Who chooses a 10-year mortgage rates? Data from the Mortgage Bankers association covering early 2016 says that fixed-rate loans for terms other than 30 or 15 years, primarily 20 or 10-year mortgage loans, represented 18 percent of all refinances (an increase of 57 percent from the previous year).

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