Tuesday, January 31, 2023 | The Latest Buzz for the Appraisal Industry

New Credit Accessibility Measure Weighs Lender Risk

By Jann Swanson

Posted To: MND NewsWire

The Housing Finance Policy Center, part of the Urban Institute, has released a new measure of credit availability . In an article in the Urban Institute’s blog, Metro Blog, Wei Li and Laurie Goodman talk about the initial findings from their measure, the Credit Availability Index or HCAI, that product not borrower risk fueled the housing bubble. We will return to those findings later, but first an explanation of how the Index is calculated and, more interestingly, how the authors compare it to others that attempt to measure credit accessibility; the Federal Reserve’s Senior Loan Officer Opinion Survey on Bank Lending Practices (SLO), mortgage application denial rates based on annual Home Mortgage Disclosure Act (HMDA) data; the Mortgage Credit Availability Index produced by the Mortgage Bankers…(read more)

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