Federal Housing Administration loan production picked up during the first month of 2013. An even bigger improvement was reported compared to a year earlier. Serious residential delinquency ticked up.
FHA endorsed 129,221 mortgages for $23.596 billion in January.
Total business increased from 109,862 mortgages insured for $19.952 billion in December.
The details were spelled out in the Monthly Report to the FHA Commissioner on FHA Business Activity.
During the same month last year, FHA endorsed 102,011 mortgages for $18.3 billion.
The most recent total included 1,807 203(k) loans endorsed for $0.314 billion and 5,876 condominium loans endorsed for $1.096 billion.
Less than 1 percent of January’s dollar volume was for adjustable-rate mortgages, while refinance share was 54 percent.
Since starting its fiscal year on Oct. 1, 2012, FHA has endorsed 482,354 loans for $86.975 billion.
The report indicated that 47,592 mortgages for $10.997 billion were guaranteed by the Department of Veterans Affairs in December. VA business slowed from the previous month, when 49,517 mortgages for $11.227 billion were guaranteed.
But military mortgage originations improved from 41,779 loans guaranteed for $9.163 billion in December 2011.
During all of 2012, VA originations totaled 573,706 units for $128.082 billion. VAÂ production grew from 379,894 loans guaranteed for $80.329 billion in 2011.
Since fiscal-year 2013 began, VA has guaranteed 151,067 loans for $34.511 billion.
January saw 229 multifamily loans endorsed for $1.898 billion, slowing from the 236 multifamily loans endorsed for $2.446 billion during December.
The single-family FHA portfolio, excluding HECMs, climbed to 7,781,633 loans for $1.0935 trillion as of Jan. 31 from 7,750,820 loans for $1.0883 trillion as of the end of 2012. At the same point last year, FHA mortgage insurance was in force on a revised 7,464,533 loans for $1.0439 trillion.
The 90-day residential delinquency rate was 9.49 percent as of Jan. 31, inching up from 9.48 percent a month earlier. But the past-due rate has fallen from 9.83 percent as of Jan. 31, 2012.
The FHA multifamily portfolio edged up to 13,125 loans for $0.0871 trillion from 13,025 loans for $0.0856 trillion at the end of last year.
