Mortgage Credit Tightens Most For Jumbo Loans

Mortgage credit availability refers to how easy it is for a borrower to get approved for a loan. When credit is less available or tighter, prospective borrowers’ financial standing and credit history have to meet a higher standard than when it’s more available or looser. The Mortgage Bankers Association tracks changes in credit availability with their monthly Mortgage Credit Availability Index. In June, it found that credit availability fell 3.3 percent from the month before, indicating that lending standards tightened. Joel Kan, MBA’s vice president of economic and industry forecasting, says jumbo loans saw the the biggest change. “Mortgage credit supply dropped again in June, as investors further reduced their willingness to purchase jumbo loans and those with lower credit scores,” Kan said. “Lenders are navigating a gradual economic and housing recovery that is still facing headwinds from the ongoing COVID-19 pandemic.” The index shows that the availability of jumbo loans suffered the biggest decline, dropping 7.3 percent. Conforming loans, on the other hand, were down just 1 percent, while government loans fell 2.8 percent. The conventional MCAI was down 4.1 percent from May. (source)

About the Author
eXp Realty, the largest residential real estate brokerage by geography in North America and a subsidiary of eXp World Holdings (NASDAQ: EXPI).

Bobby is a U. S. Marine Corps Veteran and Florida native with over 17 years of combined, award-winning experience in Real Estate and Mortgage Lending in Central Florida. An eXp ICON AGENT and Certified Mentor. Formerly with RE/MAX where he was recognized as a Hall of Fame Member and a consistent Platinum Club Award Winner. Locally, a multi-year Gold-Level Award Top Producer within the Orlando Regional Realtors Association (ORRA). His consistent productivity has earned him universal recognition, named as a Top agent in numerous publications, year after year including being voted a Best of Southwest Orlando Realtor 6 years in a row!

Bobby holds a Florida Real Estate Broker’s License with designations as a Graduate, REALTOR Institute (GRI); Accredited Buyer Representative (ABR); Certified Short Sale Professional (CSP); a Florida Military Specialist (FMS) and one of the few Real Estate Collaboration Specialists – Divorce (RCS-D) in Central Florida. These advanced designations denote expertise in financial, market, and investment analysis, in addition to negotiation. As such, he is considered an ‘expert’ in his field with experience in court testimony.

Personally:

Bobby is also a dedicated member of his community and has served on numerous local Boards of Directors. He is a youth sports coach and a Partner in Education with Orange County Schools. Thus, Bobby was voted a 2015 ORRA Good Neighbor Award recipient for his volunteerism and charitable contributions by his peers.

Bobby and his beautiful wife Halle have three very active children; Isabella, ‘Little’ Bobby and Alex. They stay busy as a family with sports, extra-curricular clubs and travel. However, they also give back as a family and donate to local rescues as well as providing their home to foster animals whenever possible.

One of Bobby’s greatest attributes is that time and again he has proven himself to be a selfless professional, treating each of his clients as if their property was the most important. He continues to work with his clients personally and does not differentiate between a $100K condo or a $1M house on a lake…anywhere in Central Florida, he gives each one the equal time, attention and respect that they deserve, as praised through the countless reviews written about him by former Buyers & Sellers!

Bobby Baldor has demonstrated the extensive experience and proven expertise in our local market to help you and your family achieve your real estate goals. But more importantly, he is a caring member of our community. Bobby’s personal slogan is ‘Your Real Estate Hero’ …and he works hard to prove it.