Mortgage Daily

Published On: August 15, 2017

Monthly new business at the Federal Housing Administration moved higher, while an improvement was recorded for delinquency. The agency grew its residential and commercial books of business.

FHA insurance was in force on 8,539,404 residential loans for $1.2848 trillion as of May 31 based on an analysis of data released by the Department of Housing and Urban Development.

The total — which includes single-family loans, home-equity conversion mortgages and Title I loans — increased from 8,524,330 loans for $1.2790 trillion
as of the end of the preceding month.

At the same point last year, FHA’s book of business stood at 8,448,630 loans for $1.2414 trillion.

The most-recent book consisted of $1.1401 trillion in single-family loans, $0.1436 trillion in HECMs and $0.0010 trillion in Title I loans.

FHA endorsed 112,424 residential loans for $22.896 billion during the most-recent month. Business climbed from 96,879 loans for $19.719 billion in April
and 108,315 loans for $21.248 billion in May 2016.

May 2017’s activity included $21.314 billion in single-family loans, $1.574 billion in HECMs and $0.008 billion in Title I production.

During the five months ended May 31, 2017, FHA endorsed 522,634 residential loans for $106.782 billion. Since it started fiscal-year 2017 on Oct. 1, 2016, there have been 873,379 loans endorsed for $178.717 billion.

Refinance share on single-family business thinned to 24.2 percent from 27.2 percent the prior month.

June endorsements likely rose based on new single-family and HECM applications, which increased to 155,509 in May from 139,048 in April.

Including foreclosures and bankruptcies, delinquency of at least 30 days fell to 10.05 percent from 10.42 percent as of April 30 and 10.65 percent as of May 31, 2016.

Ninety-day delinquency was 4.36 percent as of May 31,while the foreclosure rate was 1.41 percent, and the bankruptcy rate was 0.86 percent.

In its commercial real estate business, which is reported a month earlier than residential, 56 loans were endorsed for $0.801 billion during June 2017. The total included $0.512 billion in multifamily loans, $0.225 billion in resident-care loans and $0.065 billion in hospital endorsements.

CRE endorsements totaled 43 loans for $0.910 billion a month earlier and 81 loans for $0.985 billion a year earlier.

First-half 2017 CRE endorsements amounted to 450 loans endorsed for $6.422 billion. Fiscal-year 2017 year-to-date activity totaled
835 loans for $11.316 billion.

As of mid-2016, insurance was in force on 14,397 CRE loans for $112.404 billion. The commercial book of business
expanded from 14,347 loans for $111.908 billion as of May 31 and 14,199 loans for $107.555 billion as of June 30, 2016.

The June 30, 2017, CRE book was comprised of $79.715 billion in multifamily loans, $25.506 billion in resident-care loans and $7.184 billion in hospital loans.

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