Jumbo Mortgages

US mortgage credit score provide boosted by non-QM jumbo loans

us-mortgage-credit-score-provide-boosted-by-non-qm-jumbo-loans

Mortgage loan availability rose for the third straight month in September as lenders launched more non-QM jumbo loan products, according to the Mortgage Bankers Association.

MBA’s Mortgage Credit Availability Index (MCAI) rose 1.5% to 125.6 in September, suggesting lending standards are easing. Joel Kan, AVP of Economic and Industry Forecasting at MBA, noted that loan availability remained below pre-pandemic levels.

“Last month’s expansion was driven by a 4.5% increase in the conventional index while the government index fell slightly,” he said. “Even with increases seven out of nine months in 2021, total credit availability is still around 30% less than it was in February 2020 before the pandemic.”

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