June 5th, 2014 9:55 AM by Jackie A. Graves, President
The increase in the index,
benchmarked to 100 in March 2012, was partially due to a slight uptick in the availability of jumbo loans.
There was also a move by some investors toward lowering credit scores for FHA loans.
The MCAI is calculated using data from the AllRegs® Market
Clarity® product and a proprietary formula derived by MBA. It takes into
account several factors of borrower eligibility such as credit scores, loan
type, and loan-to-value ratio taken from its regular survey of over 85 lenders and investors.
MBA has also produced a new expanded historical series which tracks credit availability over
the previous ten years. This series permits historical perspective on
credit availability since 2004, a period which includes both the housing boom
and the ensuing recession.
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