Although monthly reverse mortgage production declined, overall government-insured originations moved higher and could see another improvement. Delinquency, however, deteriorated.
The Federal Housing Administration endorsed 66,106 residential loans for $11.400 billion during April, according to an analysis of data released Monday.
Total FHA endorsements reflect single-family mortgage originations, home-equity conversion mortgage endorsements and Title I loan activity.
Business turned higher compared to the previous month, when mortgagees originated 56,452 loans for $9.936 billion.
While endorsement dollar volume isn’t available for April 2013, the number of year-earlier endorsements is estimated by Mortgage Daily at 127,400.
Since starting its fiscal-year 2014 on Oct. 1, 2013, FHA has endorsed 469,514 loans for $82.849 billion.
During the first four months of this year, endorsements amounted to 246,495 loans for $43.644 billion.
April 2014 volume included 61,406 single-family loans for $10.334 billion, climbing from the previous month’s 51,394 loans for $8.715 billion.
But HECM originations slid to 4,168 endorsements for $1.055 billion from 4,614 HECM for $1.212 billion in March.
Title I volume rose to 532 units for $0.011 billion from the previous month’s 444 endorsements for $0.009 billion.
Total single-family and HECM applications increased to 103,063 in April from 94,626 a month earlier — pointing to a possible improvement in production for May.
Total insurance was in force on 8,479,954 loans for $1.2418 trillion as of April 30, off from 8,482,366 loans for $1.2430 trillion as of March 31.
FHA’s book of business was around 8.4 million loans for $1.24 trillion as of April 30, 2013.
Single-family loans accounted for 7.8 million loans for $1.092 trillion of the April 30 total, while the HECM portion was 0.6 million loans for $0.149 trillion and the Title I share was 0.04 million loans for $0.001 trillion.
The data indicate that total residential 30-day delinquency, including bankruptcies and foreclosures, was 12.79 percent at the end of April.
Delinquency worsened from 12.61 percent a month earlier and 14.01 percent a year earlier.
Serious delinquency was 7.25 percent, tumbling from the previous month’s 7.44 percent and the year earlier’s 8.59 percent.
FHA reported that it endorsed 142 commercial real estate loans for $1.192 billion in April, off from the previous month’s 143 loans endorsed for $1.378 billion.
Fiscal year-to-date CRE endorsements totaled 898 transactions for $8.888 billion, while calendar year-to-date endorsements amounted to 481 loans for $4.503 billion.
Multifamily endorsements accounted for 97 transactions for $0.858 billion of April’s activity, while nursing home endorsements made up 45 loans for $0.334 billion.
CRE policies in force were 13,548 loans for $97.412 billion as of the most recent date.
Included in the April 30 total were 10,486 multifamily loans for $67.272 billion, 2,949 nursing home loans for $21.430 billion and 113 hospital loans for $8.710 billion.