What to expect at HousingWire’s Spring Summit

The focus of the Summit is The Year-Round Purchase Market. Record low rates led to a banner year for mortgage lenders in 2020, and this year is expected to be just as incredible.

Increasing lending and servicing capacity – regardless of rates

Business process outsourcing and digital transformation are proven solutions that more companies in the mortgage industry are turning to. Download this white paper for more.

HousingWire's 2021 Spring Summit

We’ve gathered four of the top housing economists to speak at our virtual summit, a new event designed for HW+ members that’s focused on The Year-Round Purchase Market.

An Honest Conversation on minority homeownership

In this episode, Lloyd interviews a senior research associate in the Housing Finance Policy Center at the Urban Institute about the history and data behind minority homeownership.

Mortgage

MBA: Mortgage credit availability tightens in April

High balance and jumbo loans tightened

Mortgage credit availability decreased in April by 0.89% to 122.4, according to the Mortgage Bankers Association’s Mortgage Credit Availability Index, which analyzes data from Ellie Mae’s AllRegs Market Clarity business information tool.

Jumbo MCAI caused most of the decline, when it tightened by 1.4% over the month. The Conventional MCAI decreased by 1%, and the Government MCAI decreased by 0.7%. The Conforming MCAI, however, increased by 0.1%.

“Mortgage credit became less available in April as a result of two opposing trends, resulting in a net decrease to the index,” said Lynn Fisher, MBA’s Vice President of Research and Economics.

“Investors continued to roll out Fannie Mae and Freddie Mac’s low down payment loan programs, which had a loosening effect on credit availability,” Fisher said. “However, this was more than offset by tightening among high balance and jumbo loan programs.”

In its monthly release, MBA now reports on five measures of credit availability: the Total Mortgage Credit Availability Index, the Conventional Mortgage Credit Availability Index, the Government Mortgage Cred Availability Index, the Conforming Mortgage Cred Availability Index and the Jumbo Mortgage Credit Availability Index. It’s data is dated back to 2011.

Previously, MBA reported that in February 2016, mortgage credit availability remained unchanged, and that tightening in one MCAI was canceled out by loosening in others. 

Click to Enlarge

MCAI

(Source: MBA) 

Most Popular Articles

Josh Team out as Keller Williams president

Josh Team is out at Keller Williams, not long after he received what appeared to be a promotion. He announced his resignation on Facebook.

Feb 22, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please