Mortgage Daily

Published On: October 24, 2016

Monthly government-insured mortgage production climbed to the highest level in more than a year and is poised for another increase. Residential delinquency, meanwhile, moved lower.

For the month of August, the Federal Housing Administration endorsed
134,722 residential loans for $27.229 billion, according to a Mortgage Daily analysis of operational data.

It was the strongest month since July 2015, when volume — including single-family loans, home-equity conversion mortgages and Title I loans — was 139,652 units for $27.658 billion.

The latest monthly total included
$25.866 billion in single-family loans, $1.359 billion in HECMs and $0.004 billion in Title I loans.

During the previous month, 119,053 loans were endorsed for $23.549 billion, while the total came to 132,492 loans for $26.727 billion a year previous.

FHA endorsed 874,812 residential loans for $172.807 billion during the eight months ended Aug. 31, 2016. Since Oct. 1, 2015, when FHA’s fiscal-year 2016 started, there have been 1,189,573 residential loans endorsed for $234.244 billion.

September 2016 endorsements likely picked up based on total loan applications, which climbed to 172,016 in August from 156,904 a month earlier.

As of the most-recent date, there was insurance in force on 8,460,309 loans for $1.2497 trillion — including $1.1038 trillion in single-family loans, $0.1449 trillion in HECMs and $0.0010 trillion in Title I loans.

FHA’s overall book of business expanded from 8,453,254 loans for $1.2460 trillion as of July 31, 2016, and 8,373,073 loans for $1.2160 trillion as of Aug. 31, 2015.

Single-family delinquency of at least 30 days, including foreclosures and bankruptcies, finished August 2016 at 10.98 percent. The past-due rate was 11.22 percent the previous month and 12.09 percent a year previous.

Ninety-day single-family delinquency was 4.95 percent as of the latest date.

Operational metrics for FHA’s commercial real estate business indicate that 147 CRE loans were endorsed during September 2016 for $1.750 billion. The total included $1.322 billion in multifamily loans, $0.411 billion in resident care property loans and $0.017 billion in hospital loans.

Overall CRE endorsements jumped from 90 loans for $1.138 billion the prior month and 106 loans for $1.096 billion a year prior.

Calendar-year 2016 CRE loan endorsements amounted to 844 loans for $10.109 billion.

For all of fiscal-year 2016, CRE endorsements worked out to 1,172 loans for $13.780 billion.

The most-recent activity left FHA with insurance in force on 14,257 CRE loans for $108.809 billion
— including $77.115 billion in multifamily loans, $24.837 billion in resident care loans and $6.858 billion in hospital loans.

Total CRE in force was 14,290 loans for $108.678 billion as of Aug. 31, 2016, and 13,995 loans for $104.492 billion as of Sept. 30, 2015.

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