Mortgage Daily Logo
mortgage news from industry experts

SF Endorsements Up, Delinquency Down at FHA

Monthly new business was moderately higher in the Federal Housing Administration’s residential business, while loan performance improved. But commercial mortgage endorsements plunged.

Data reported by the Department of Housing and Urban Development indicate FHA insurance was in force on 8,613,099 residential loans for $1.3269 trillion as of May 31.

Reflected in the total were $1.1795 trillion in single-family loans, $0.1464 trillion in home-equity conversion mortgages and $0.0010 trillion in Title I loans.

FHA’s book of business grew from
8,614,868 loans for $1.3248 trillion the previous month. As of the same date last year, the balance was 8,539,404 loans for $1.2848 trillion.

Most recently, 90,295 residential loans were endorsed by FHA for $18.701 billion — including $17.582 billion in single-family loans, $1.112 billion in HECMs and $0.007 billion in Title I loans.

Business improved from April, when 82,470 loans were endorsed for $17.192 billion. But FHA activity receded from May 2017, a month that saw 112,422 loans endorsed for $22.896 billion.

FHA endorsed 424,630 loans for $90.143 billion during the five months ended May 31, while the total was 707,034 loans for $149.270 billion since HUD started fiscal-year 2018 on Oct. 1, 2017.

Refinance share fell to 19.6 percent from 22.4 percent in April and
24.2 percent in May of last year.

New applications totaled 130,150 in May, up from 124,032 during April and an indication that endorsements during July are likely seeing an up tick.

Including bankruptcies and foreclosures, delinquency of at least 30 days was 9.98 percent at end of May. The rate subsided 19 basis points from a month earlier and was 7 BPS better than a year earlier.

Reflected in the latest rate was a 4.35 percent 90-day rate, an 0.83 percent bankruptcy rate and a 1.11 percent foreclosure rate.

In its commercial real estate business, FHA endorsed 83 loans for $1.344 billion — including $1.117 billion in multifamily loans and $0.166 billion in resident-care loans. Production sank from 135 loans for $2.295 billion in April but was better than 43 loans endorsed for $0.910 billion during May 2017.

Year-to-date endorsements amounted to 569 loans for $9.027 billion, and fiscal year-to-date volume came to 926 loans for $14.395 billion.

Insurance was in force on 15,141 CRE loans for $126.274 billion as of May 31, 2018 — including $91.513 billion in multifamily loans, $28.007 billion in resident-care loans and $6.755 billion in hospital loans.

The CRE book of business was
15,129 loans for $125.602 billion the preceding month and 14,347 loans for $111.908 billion the same week a year ago.

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...


Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI

Related Posts