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Origination News | Lender Ranking | Fundings by Lender | Statistics
Quarterly residential mortgage production by lender. Subprime, Alt-A, home equity and conforming originations. Volume by quarter since 2003.

FHA Activity Surges

Weekly applications up 20%

Sept. 3, 2008

By Mortgage Daily staff

Loan originators recently stepped up the number of 1003s taken for loans insured by the Federal Housing Administration. The level of government activity is at its highest level in more than five years.

The level of government loan applications jumped 20 percent in the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending Aug. 29. MBA noted that government applications are "largely FHA."

The increase was more than three times the increase for conventional applications.

The Government Index currently stands at 417.4 -- its highest level since May 30, 2003, MBA spokeswoman Carolyn Kemp said in a statement to

The latest activity marks the fifth consecutive week of increases for FHA applications.

MBA said last month that government-insured applications accounted for 29 percent of total mortgage applications taken during July -- more than triple the share in July 2007. Government share has been rising since February 2007 and accelerated early this year.

The trade group suggested that recently passed legislation has fueled FHA activity.

The highest government share on record is 44 percent in February 1990, MBA said.

In an economic outlook last month, Freddie Mac projected government originations will rise from $0.120 trillion last year to $0.280 trillion this year and $0.285 trillion in 2009.


Help With Rising FHA Activity
The volume of loans insured by the Federal Housing Administration has spiked this year, new data indicate. Two firms are helping mortgage companies that are struggling to understand and comply with recent changes to the FHA program while trying to keep up with increased activity.

Government Originations to Double
As rates rise and conventional originations slide, government mortgage originations are projected to more than double.

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Mortgage Rate News | Mortgage Market Index | ARM indices | ARM Statistics
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A barometer of upcoming originations, the Mortgage Market Index includes data on jumbo, FHA and refinance activity.

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Affordable Refinance Program, H A R P 2.0 and other Making Home Affordable coverage.

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FHA News | Government Resources | M o r t g a g e e Letters | FHA Statistics
FHA, VA and HECM mortgage news. HUD and G i n n i e news also. Originations, servicing and FHA approval.

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