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/
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.


Great Month for FHA

$25.4 billion in June endorsement volume

July 22, 2010

By MortgageDaily.com staff


Government-insured originations improved last month, though volume is likely to turn lower this month. Reverse mortgage activity improved for the first time in six months, and overall delinquency continued lower.

The Federal Housing Administration reported that it endorsed 150,911 loans last month for $26.4 billion, increasing from 124,754 endorsements for $22.3 billion in May. Business was down, however, from 194,526 mortgages for $36.8 billion in June 2009.

The average FICO score edged down in June to 697 from 698 the month before.

Last month's activity included 115,831 purchase transactions for $19.6 billion and 29,776 refinances for $5.5 billion. The month-over-month increase was fueled by purchases, as refinance endorsements eased from May.

Also included in June volume were 5,304 home-equity conversion mortgages for a maximum claim amount of $1.3 billion -- improving for the first time since December 2009 when 8,284 HECMs were closed for $2.3 billion. Reverse mortgage volume was 4,554 transactions for $1.2 billion in May and 8,633 endorsements for $2.6 billion in June 2009.

Section 203(k) volume rose to 1,845 endorsements from May's 1,574, while condominium loans endorsed improved to 7,638 from 5,942,

The monthly improvement in overall activity was likely temporary based on new applications, which fell to 168,915 last month from May's 181,524. But the decline in applications was limited to purchase transactions, which tumbled more than a quarter, and likely reflected the impact from the expiring tax credit. Refinance applications jumped more than a third, while HECM applications were 9 percent higher.

The average processing time from application to closing worsened to 7.1 weeks from 6.6 weeks in May.

So far this fiscal year, 1,337,230 FHA loans have been endorsed for $242.6 billion, near the same level at the same point last year -- when 1,387,201 loans had been endorsed for $256.5 billion. By the end of the current fiscal year on Sept. 30, the housing agency projects 1,875,000 loans for $349.7 billion will have been endorsed.

As of June 30, there were 6,402,527 FHA-insured mortgages outstanding for $865.5 billion, more than 6,296,586 loans for $837.8 billion at the end of the previous month.

Delinquency of at least 90 days finished June at 8.3 percent, down for the fifth consecutive month. The rate was 8.4 percent a month earlier and 7.6 percent a year earlier.

next story

back to current headlines

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.



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

www.mortgagebranchmanagerjobs.com
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.


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.


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


www.mortgagebranchmanagerjobs.com

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