For each of the past three months, residential delinquency has deteriorated at the Federal Housing Administration. But cnew residential business climbed to the highest level in eight months.
FHA insurance was in force on
8,445,779 residential loans for a total of $1.2428 trillion as of June 30, according to an analysis of Department of Housing and Urban Development data.
The book of business expanded from a month earlier, when it stood at 8,448,630 loans for $1.2414 trillion, and a year earlier, when it was in force on 8,329,859 loans for $1.2042 trillion.
Insurance in force as of the most-recent date included $1.0961 trillion in single-family loans, $0.1457 trillion in home-equity conversion mortgages and $0.0010 trillion in Title I loans.
HUD’s data indicated that FHA endorsed 119,730 residential loans for $23.654 billion during the latest month. It was the strongest month for new business since October 2015, when 123,854 loans were endorsed for $24.233 billion.
The June 2016 total included $22.499 billion in single-family loans, $1.148 billion in HECMs and $0.007 billion in Title IÂ loans.
Endorsements totaled 108,315 loans for $21.248 billion in May 2016 and
134,272 units for $26.621 billion in June 2015.
During the first-half 2016, FHA endorsed 621,037 residential loans for $122.029 billion, while the total was 935,802 loans for $183.466 billion since the agency started fiscal-year 2016 on Oct. 1, 2015.
Refinance share during the most-recent month was 26.9 percent, slightly wider than 29.2 percent in May.
It looks like July endorsements held up versus the prior month based on new applications, which inched up to 174,920
during June from 173,896 in May.
HUD data indicate that FHA single-family delinquency of at least 30 days was 10.85 percent as of mid-2016.
Delinquency has deteriorated every month since March, when it finished the month at 10.35 percent.
The past-due rate soared 20 basis points from one month previous but retreated 115 BPS from one year previous.
June 2016’s rate reflected a 1.62 percent foreclosure rate and an 0.89 percent bankruptcy rate.
Ninety day delinquency was 5.02 percent in the most-recent report.
FHA endorsed 83 commercial real estate loans for $0.953 billion
during July of this year. The total included $0.726 billion in multifamily loans and $0.227 billion in resident-care loans.
CRE production was 81 loans for $0.985 billion in June and 96 loans for $0.607 billion in July 2015.
Calendar-year CRE endorsements amounted to
607 units for $7.221 billion, while fiscal-year 2016 endorsements came to 936 loans for $10.910 billion.
FHA finished last month with insurance in force on 14,232 CRE loans for $107.931 billion — including $76.464 billion in multifamily loans, $24.580 billion in resident care/nursing home loans and $6.887 billion in hospital loans.
The CRE book expanded from 14,199 loans for $107.555 billion as of mid-year 2016 and 14,023 loans for $103.841 billion as of July 31, 2015.
