MBA: Mortgage Credit Availability Flat In December

Mortgage credit availability increased slightly in December, according to the Mortgage Bankers Association's (MBA) monthly Mortgage Credit Availability Index (MCAI).

The MBA notes that investors continue to fine-tune their credit score and loan-to-value eligibility matrices. Many have already made changes in advance of the Consumer Financial Protection Bureau's new mortgage regulations going into effect Jan. 10.

The index, based on data provided through the AllRegs Market Clarity product, shows that credit increased 0.6% in December compared to November. Credit availability reached 110.9 on the index in December, compared to 110.2 in November.

The index was benchmarked to 100 in March 2012. If it had been tracked in 2007, it would have been at a level of roughly 800, indicating the credit was much more available at that time.


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