twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com 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 MortgageDaily.com.

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

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

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

Press Releases
Reports and announcements from MortgageDaily.com.

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

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/

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 Performance Improves

$18.8 billion in loans endorsed during March

April 30, 2012

By MortgageDaily.com staff


Refinance endorsements drove monthly government mortgage lending higher, but purchase production appears poised to take the spotlight. The elevated origination activity didn't spill over, however, into the reverse mortgage sector. Serious delinquency has improved for each of the past two months.

Mortgages insured by the Federal Housing Administration in March totaled 100,939 loans for $18.8 billion.

Volume grew from 90,561 mortgages endorsed for $16.5 billion during February. Business was also better than 99,112 FHA endorsements for $18.3 billion in March 2011.

Endorsements likely increased even further during April based on the 205,778 new applications received in March. Just 155,248 applications were submitted in February.

Refinance endorsements were the biggest driver of the overall increase in originations, climbing 27 percent for the month. Refinance business should remain elevated with new applications up 10 percent during March.

FHA purchase financing increased 8 percent over the previous month. But purchase applications skyrocketed 57 percent higher from February.

Home-equity conversion mortgage originations tumbled 15 percent from February to 4,381 HECMs endorsed in March for a maximum claim amount of $1.1 billion. New applications for HECMs, however, inched up 4 percent.

Section 203(k) endorsements fell to 1,704 from February's 1,803. Condominium activity came in at 3,630, more than the 3,280 loans insured a month prior. FHA endorsed 1,636 manufactured housing loans, a few less than the previous month's 1,678.

FHA mortgagees cut the average processing time from application to closing to 5.7 weeks from 6.0 weeks a month earlier. It took an average 6.7 weeks during the same month last year.

From Jan. 1 through March 31, FHA endorsed a total of 293,511 loans for $53.6 billion.

Since starting its fiscal year on Oct. 1, 2011, FHA endorsed 563,379 mortgages for $101.7 billion. By the end of fiscal-year 2012, the housing agency predicts that originations will reach 1.4 million loans for $248.6 billion.

HECM originations so far during calendar-year 2012 totaled 14,982 endorsements for a maximum claim amount of $3.6 billion. On a fiscal-year basis, 28,920 HECMs have been endorsed for $7.0 billion.

FHA's book of business continued expanding, climbing to 7,590,450 loans with an aggregate unpaid principal balance of $1.0639 trillion.

The total was 7,494,104 loans for $1.0479 trillion at the end of February and 6,983,893 insured mortgages for $966.4 billion as of March 31, 2011.

Delinquency of at least 90 days was 9.4 percent, falling from 9.7 percent in February. It was the second consecutive month that delinquency has improved.

But the serious delinquency rate still sits above the 8.3 percent level at the same point last year.

FHA profile

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.

www.mortgagebranchmanagerjobs.com

Mortgage Insurance News | M.I. Directory | M.I. Statistics
News about mortgage insurance issuance, defaults and litigation
.


www.mortgagebranchmanagerjobs.com
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
password?

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

MBS

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