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FHA Delinquency Rises

Monthly residential Federal Housing Administration business was little changed, as was its book of business. But deterioration was reported in the rate of single-family delinquency.

An analysis of data reported by the Department of Housing and Urban Development indicates insurance was in force on 8,456,057 residential loans for $1.2551 trillion as of Nov. 30, 2016.

FHA’s book consisted of $1.1103 trillion in single-family units, $0.1438 trillion in home-equity conversion mortgages and 39,119 Title I loans with an unpaid principal balance of $0.0010 trillion.

The overall total was off from 8,460,037 loans for $1.2538 trillion a month earlier but more than 8,424,800 loans for $1.2293 trillion a year earlier.

FHA endorsed
115,419 residential loans for $23.682 billion during the most-recent month. Business dipped from 120,551 units for $24.701 billion in October 2016 but increased from 97,706 loans for $18.899 billion in November 2015.

The November 2016 total consisted of $22.462 billion in single-family loans, $1.214 billion in HECMs and $0.006 billion in Title I loans.

During the first-11 months of 2016, residential endorsements amounted to
1,231,725 loans for $245.867 billion. Since starting its fiscal-year 2017 on Oct. 1, 2016, FHA has endorsed 235,974 loans for $48.383 billion.

FHA’s single-family delinquency of at least 30 days, including foreclosures and bankruptcies, finished the latest month at 11.32 percent. The non-current rate worsened from 11.06 percent at the end of October but improved from 12.27 percent at the close of November 2015.

The Nov. 30, 2016, rate reflected a 4.94 percent 90-day delinquency rate, an 0.86 percent bankruptcy rate and a 1.46 percent foreclosure rate.

Commercial Real Estate
FHA additionally endorsed 171 CRE loans for $2.304 billion in the final month of last year. CRE metrics are reported a month sooner than residential metrics.

CRE production jumped from 110 loans for $1.062 billion in November 2016 and 120 loans for $1.552 billion in December 2015.

Last month’s CRE endorsements consisted of $1.808 billion in multifamily loans and $0.497 billion in resident care facility loans.

Calendar year CRE endorsements came to 1,229 loans for $15.002 billion, far more than the 1,140 loans endorsed for $9.672 billion in 2015.

Fiscal-year 2017 CRE endorsements so far amounted to 385 loans for $4.894 billion.

Insurance was in force on 14,300 CRE loans for $110.022 billion as of year-end 2016. The total grew from 14,296 loans for $109.733 billion at the end of the previous month and 14,041 loans for $105.443 billion at the end of the prior year.

The Dec. 31, 2016, CRE book of business was comprised of $78.303 billion in multifamily loans, $25.265 billion in resident care facility loans and $6.454 billion in hospital loans.

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