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Offsetting Gains and Losses in Underwriting Guidelines in Feb

Thursday, March 3, 2016

Any loosening of credit access in February was offset by tightening by other programs the Mortgage Bankers Association (MBA) said on Thursday.  Consequently the Association's Mortgage Credit Availability Index (MCAI) remained the same as in January, 123.8. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit.

"Credit availability was flat over the month.  Slight declines in conventional programs aimed at low-to-moderate income borrowers were offset by increasing availability of government-backed programs," said Lynn Fisher, MBA Vice President of Research and Economics. 

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