Yes,, a mortgage is an installment loan.
However due to the fact that it is a special type of installment loan that others want to see specifically designated as such when they review consumer credit reports, the "Portfolio Type" CRA designation codes divides installment loans into two separate codes, with "M" specifically identifying a mortgage loan, and "I" then reserved for all others.
Various other reporing codes that also refer to the type of credit similarly divide installment into mortage and then other.
Thus, in the unreal world of credit reporting, a mortgae is not identified as an "I"nstallment loan, but it is still an installment loan (small i).
