There was little change in monthly endorsements by the Federal Housing Administration, though business is poised for an increase. Delinquency improved, and commercial endorsements moved higher.
FHA insurance was in force on 8,614,868 residential loans for $1.3248 trillion as of April 30, according to an analysis of data reported by the Department of Housing and Urban Development.
Included in the total were $1.1765 trillion in single-family loans, $0.1474 trillion in home-equity conversion mortgages, and $0.0010 trillion in Title I loans.
The overall total was 8,613,410 loans for $1.3224 trillion a month earlier and 8,524,330 loans for $1.2790 trillion a year earlier.
82,470 loans for $17.192 billion during the most-recent month — including $16.053 billion in single-family loans, $1.133 billion in HECMs and $0.006 billion in Title I loans.
Business was about the same as the 82,300 loans endorsed for $17.542 billion in March. Activity slowed, though, from 96,879 loans for $19.719 billion in April 2017.
Refinance share was 22.4 percent in April of this year, thinning from 28.4 percent the previous month.
A big bump in FHA business was likely during May based on new applications, which rose from 105,851 back in February to 125,873 the following month. Most recently, there were 124,032 applications in April.
From Jan. 1, 2018, through the end of April, FHA endorsed 334,335 loans for $71.442 billion. Since staring fiscal-year 2018 on Oct. 1, 2017, there have been 616,742 loans endorsed for $130.569 billion.
Single-family delinquency of at least 30 days, including bankruptcies and foreclosures, ended April at 10.17 percent. The rate declined from 10.23 percent the previous month and 10.42 percent a year previous.
Reflected in the latest rate was a 4.54 percent 90-day rate, a 1.13 percent foreclosure rate and an 0.85 percent bankruptcy rate.
In its commercial real estate business, FHA endorsed 135 loans during April for $2.295 billion — including $2.082 billion in multifamily loans and $0.213 billion in resident-care loans.
CRE endorsements totaled 117 loans for $1.726 billion the prior month and 82 loans for $1.514 billion a year prior.
So far in calendar-year 2018, there have been 486 CRE loans endorsed for $7.684 billion, while the total was 843 loans for $13.052 billion since the beginning of fiscal-year 2018.
FHA’s CRE book of business concluded the latest month at 15,129 loans for $125.602 billion — including $90.820 billion in multifamily loans, $27.935 billion in resident-care loans and $6.847 billion in hospital loans.
Mortgage insurance in force as of March 31 was 15,081 loans for $124.215 billion, while it stood at 14,383 loans for $111.793 billion as of April 30, 2017.