Mortgage Credit Availability Index
Complimentary for MBA Members! The Mortgage Credit Availability Index (MCAI) is a barometer on the availability or supply of mortgage credit at a point in time, using criteria from institutional investors who purchase loans through the broker and/or correspondent channels. The MCAI is calculated using several factors related to borrower eligibility (credit score, loan type, loan-to-value ratio, etc.) using data made available by ICE Mortgage Technology. These metrics and the underwriting criteria for numerous lenders/investors are analyzed and, through a proprietary formula, MBA calculates the MCAI which include indices for Total, Conventional, Government, Conforming and Jumbo segments. The base period and values for the total index is March 31, 2012=100; Conventional March 31, 2012=73.5; Government March 31, 2012=183.5.
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Related Press Releases
Mortgage Delinquencies Increase in the Fourth Quarter of 2022
Key findings of MBA's Fourth Quarter of 2022 National Delinquency Survey:
Source: Mortgage Bankers Association; Powered by ICE Mortgage Technology
- Compared to last quarter, the seasonally adjusted mortgage delinquency rate increased for all loans outstanding. By stage, the 30-day delinquency rate increased 26 basis points to 1.92 percent, the 60-day delinquency rate increased 13 basis points to 0.66 percent, and the 90-day delinquency bucket increased 11 basis points to 1.38 percent.
- By loan type, the total delinquency rate for conventional loans increased 26 basis points to 2.78 percent over the previous quarter. The FHA delinquency rate increased 209 basis points to 10.61 percent, and the VA delinquency rate increased by 45 basis points to 4.16 percent.
- On a year-over-year basis, total mortgage delinquencies decreased for all loans outstanding. The delinquency rate decreased by 80 basis points for conventional loans, decreased 15 basis points for FHA loans, and decreased 108 basis points for VA loans from the previous year.
- The delinquency rate includes loans that are at least one payment past due but does not include loans in the process of foreclosure. The percentage of loans in the foreclosure process at the end of the fourth quarter was 0.57 percent, up 1 basis point from the third quarter of 2022 and 15 basis points higher than one year ago.
- The non-seasonally adjusted seriously delinquent rate, the percentage of loans that are 90 days or more past due or in the process of foreclosure, was 1.89 percent. It decreased by 1 basis point from last quarter and decreased by 94 basis points from last year. The seriously delinquent rate decreased 5 basis points for conventional loans, increased 14 basis points for FHA loans, and decreased 8 basis points for VA loans from the previous quarter. Compared to a year ago, the seriously delinquent rate decreased by 68 basis points for conventional loans, decreased 208 basis points for FHA loans and decreased 139 basis points for VA loans.
- The five states with the largest quarterly increases in their overall delinquency rate were: Louisiana (77 basis points), Florida (74 basis points), Indiana (62 basis points), West Virginia (55 basis points), and Mississippi (55 basis points).
- Note: For the purposes of the survey, MBA asks servicers to report loans in forbearance as delinquent if the payment was not made based on the original terms of the mortgage.