|FHA Loan Production $148 Billion
HUD releases fiscal 2002 numbers
October 23, 2002
By MortgageDaily.com staff
|The Federal Housing Administration produced record loan volume during its fiscal year 2002, which ended Sept. 30.
The agency produced $148 billion in loans during its fiscal year, said Michael Fluharty, a media spokesman for the U.S. Department of Housing and Urban Development. That’s an almost 26% increase from fiscal year 2001’s production of $117.7 billion.
The number of loans given during the 2002 fiscal year reached almost 1.3 million, compared with the 1,066,479 loans given last fiscal year, Fluharty said.
So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...