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97 Percent GSE Loans Boost Credit Availability

Thursday, February 5, 2015

New initiatives aimed at increasing access to credit and making it more affordable began to pay off in January according to Mike Fratantoni, the Mortgage Bankers Association's (MBA's) Chief Economist.  MBA's Mortgage Credit Availability Index (MCAI) increased 1.8 percent in January, to 117.8.  An increase in the index, which analyzes data from the AllRegs Market Clarity Product®, indicates that lending standards have loosened from those the previous month.

Fratantoni said, "Fannie Mae and Freddie Mac announced new 97 percent LTV loan programs in December aimed at expanding access to conventional financing for new and well-qualified homebuyer. Additionally, FHA announced reductions in mortgage insurance premiums (MIP).   Both of these announcements were designed to provide consumers with better access to mortgage credit."


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