MBA Fine-Tunes Credit Access Index

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Posted To: MND NewsWire

The Mortgage Bankers Association (MBA) reported that its Mortgage Credit Availability Index increased by one point in July, and announced that its methodology for constructing the index had changed. An increase in the index, which analyzes data from Ellie Mae’s AllRegs® tool and MBA’s survey of lenders, indicates that lending standards have eased. The index, which was benchmarked to 100 in March 2012, increased to 164.3. Of the four component indices, the Jumbo and Government MCAIs saw the greatest increase in availability (both up 1.3 percent) over the month followed by the Conventional MCAI (up 0.7 percent), and the Conforming MCAI (up 0.1 percent). The change in methodology has raised the relative values of the MCAI. For example, the index level for June as reported under the old index…(read more)

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