twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from

Mortgage News Reprints
Put entire stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed stories free on your Web site or for your RSS reader.

News Archives
Archive of stories by month going back to 1999.

Press Releases
Reports and announcements from

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News


Mortgage News

HOT Topics









site map

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.

FHA Turns In Poor Performance

$23.1 billion in January endorsements

Feb. 23, 2011

By staff

Delinquency was worse, originations were lower and upcoming business will decline even further at the Federal Housing Administration. The poor performance even spilled over into reverse mortgage activity. But FHA loans that include financing for improvements saw a healthy 10 percent month-over-month improvement.

FHA mortgagees obtained 119,518 endorsements last month for $23.1 billion, according to data reported by the Department of Housing and Urban Development.

That was less than the 133,603 endorsements for $26.4 billion in December. It was also worse than January 2010, when FHA endorsed 158,612 mortgages for $29.1 billion.

Refinance volume fell to $10.0 billion from $12.9 billion, and purchase-money endorsements eased to $11.4 billion from $11.8 billion.

Home-equity conversion mortgage production declined to 6,464 loans for a maximum claim amount of $1.7 billion in January from the previous month's 6,554 HECMs for $1.7 billion. Reverse mortgage volume was 7,628 loans for $2.1 billion in January 2010.

Other FHA volume included in January's total were 1,715 Section 203(k) -- higher than the 1,562 loans insured the prior month. Condominium endorsements were 5,549, and manufactured housing endorsements were 1,769.

Another drop in overall monthly business can be expected based on application data reported by HUD. Last month saw 103,991 new FHA applications, fewer than December's 112,500.

Dragging down business was a 12 percent decline in refinance applications, versus the overall 8 percent drop. HECM applications were down 11 percent. But purchase applications were off only 3 percent.

Since the beginning of its fiscal year on Oct. 1, 2010, FHA has endorsed 509,562 mortgages for $99.8 billion. By the end of its current fiscal year on Sept. 30, HUD expects to have endorsed 1.5 million mortgages for $288.7 billion.

As of the end of last month, 6,882,984 FHA loans were insured for $947.8 billion, growing from 6,812,689 mortgages for $934.2 billion at the end of last year.

Three-month delinquency deteriorated to 8.9 percent from the previous month's 8.8 percent. However, late payments have improved form last January -- when the rate stood at 9.2 percent.

next story

back to current headlines

Reverse Mortgage News
Home equity conversion mortgages, HECM lenders and HECM reports. Reverse mortgage lending issues, analysis and compliance.

Mortgage Insurance News | M.I. Directory | M.I. Statistics
News about mortgage insurance issuance, defaults and litigation
Refinance News | Refinance Share Statistics
News about refinancing programs, pricing and production. Stories about the H o m e
Affordable Refinance Program, H A R P 2.0 and other Making Home Affordable coverage.

Servicing News | Servicer Ranking | Delinquency Statistics
Stories about mortgage servicers, delinquency and f o r e c l o s u r e s. Coverage of servicing lawsuits and loan servicing technology.

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.

Logout forgot

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders