Mortgage credit loosens a bit
Accessing mortgage credit is getting a bit easier, a new report from the Mortgage Bankers Association says.
The mortgage credit availability index rose 0.6% from 110.2 in November to 110.9 in December, which means a loosening of credit on what is an otherwise flatline.
The MCAI was benchmarked to 100 in March 2012. By comparison, a 2007 benchmarking would have been scored at about 800, indicating that credit was far more available.
Investors continue tuning their credit score and LTV eligibility matrices, and many have already made changes in anticipation of new Consumer Financial Protection Bureau mortgage regulations.