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Monthly FHA Business Softens, Delinquency Up

The government insured slightly fewer home-related loans in the most-recent month of activity. Loan performance was also slightly worse on a month-over-month basis.

The Federal Housing Administration endorsed 101,742 loans — including single-family loans, reverse mortgages and Title I loans — during April for $19.917 billion.

Activity, according to an analysis of Department of Housing and Urban Development data, slowed from March, when 104,181 loans were endorsed for $20.316 billion.

In April 2015, FHA endorsed 108,386 residential loans for $21.624 billion.

Since starting its fiscal-year 2016 on Oct. 1, 2015, FHA has endorsed 707,747 loans for $138.564 billion.

Calendar-year 2016 endorsements amount to 392,991 loans for $77.127 billion.

April 2016 endorsements included 97,174 single-family loans for $18.642 billion, 4,240 home-equity conversion mortgages for $1.268 billion and 328 Title I loans for $0.007 billion.

New FHA applications during April slipped to 169,738 from 175,247 a month earlier.

As of April 30, 2016, FHA insurance was in force on 8,447,949
loans for $1.2397 trillion.

FHA’s book of business grew from 8,448,486 loans insured for $1.2386 trillion at the end of the previous month and 8,339,609 loans for $1.2049 trillion a year previous.

The most-recent insurance-in-force total consisted of
7,810,381 single-family loans for $1.0921 trillion, 596,922 HECMs for $0.1465 trillion and 40,646 Title I loans for $0.0010 trillion.

Residential delinquency of at least 30 days, including foreclosures and bankruptcies, was 10.53 percent as of April 2016.

Delinquency was slightly worse than 10.35 percent as of the previous month. But the 30-day rate has descended from 11.62 percent as of one year earlier.

HUD reported 90-day FHA delinquency of 5.16 percent as of the latest date.

Moving on to commercial real estate, FHA endorsed 116 commercial mortgages for $1.038 billion. Dollar volume descended from the 97 loans endorsed in March for $1.201 billion.

Commercial real estate endorsements
ascended, though, from 97 CRE loans endorsed for $0.933 billion in April 2015.

April 2016 CRE endorsements included 86 multifamily loans for $0.802 billion and 30 resident-care properties for $0.236 billion.

FHA had insurance in force on 14,124 CRE loans for $106.484 billion as of April 30, 2016, an increase from the previous month when there were 14,101 loans insured for $106.2 billion and a year previous when insurance was in force on 13,996 loans for $103.232 billion.

The most-recent CRE book was made up of 10,809 multifamily loans for $75.356 billion, 3,210 resident-care facilities for $24.154 billion and 105 hospital loans for $6.974 billion.

Read last published FHA endorsement story about February.

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