The Mortgage Credit Availability Index (MCAI) is 30% below pre-pandemic levels.
Mortgage credit availability inches higher following 2020’s steep decline
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California Mortgage Lending
Learn the core concepts of consumer and business mortgage lending and brokering.
Stay current on the latest news, videos, forms, and updates for California Mortgage Lending.
Recent updates to the course e-book
- Chapter 3: The Agency Law Disclosure. The updated statutory Agency Law Disclosure and confirmation provision went into effect the beginning of 2019. Both the content of the form and when it is to be used have been modified. Further, prior printings indicate the Agency Law Disclosure is not required on a lease with a term exceeding one year. However, lease transactions greater than one year are targeted transactions requiring the disclosure. For a thorough analysis of the new disclosure and confirmation practices, see the digital eBook version of the book.
- Chapter 72: Home mortgage interest deductions. The definition for principal residence on page 472 is partially obscured. It should read “The residential property where the homeowner resides a majority of the year.”
- Quiz 3 Question 3 has been simplified to read:
California anti-discrimination law is enforced by:
a. the Department of Business Oversight (DBO).
b. the Department of Fair Employment and Housing.
c. the Department of Housing and Urban Development (HUD).
d. Fannie Mae.
06/25: The 2025 rules for buyer representation and fee-splitting avoidance are currently being edited into this e-book.
Newly published related content
Eviction and foreclosure moratorium extended on federally-backed mortgages
Temporary relief is in sight for homeowners with single-family federally backed mortgages as the foreclosure moratorium is extended through January.
2020’s struggling jobs market foreshadows declining home prices in 2021; Monthly Statistical Update (December 2020)
A second jobs recovery is needed to sustain the housing market; Californians drop out of the labor force; California home prices jump with low turnover and lower interest rates
The “jingle mail” strategy
New homeowners relish the moment they accept the keys to their new home — so why are more and more of them considering returning the keys?
Low interest rates are here to stay, spurring refinancing; Monthly Statistical Update (November 2020)
Interest rates hit historic lows for mortgages; Plummeting interest rates send refinances soaring; The yield spread forecasts the long recovery ahead
Press Release: Q3 2020 Buyer Purchasing Power Index rises due to historically low interest rates
The BPPI was +10.6 at the end of Q3 2020.
Job losses wipe out the foundation for home sales volume, construction; Monthly Statistical Update (October 2020)
Jobs will be slow to return; The recession has impacted home sales volume first; Construction feels downward economic pressure
Rising 90+ day mortgage delinquencies are the foreclosure shadow inventory
The longer the shadow grows, the greater the tidal wave of foreclosures to come.
Additional refinancing fees delayed
The Adverse Market Refinance Fee has been delayed until December 2020, and interest rates sigh in relief.