Although monthly government mortgage originations strengthened, the Federal Housing Administration’s book of business diminished and delinquency worsened.
FHA endorsed 73,703 residential loans for $12.823 billion during June, according to operating data released by the Department of Housing and Urban Development.
The latest activity brought the year-to-date total to 388,240 loans for $68.154 billion. Since it started its fiscal year on Oct. 1, 2013, FHA has endorsed 611,259 loans for $107.359 billion.
Endorsements amounted to 117,656 loans for $20.990 billion in June 2013.
June 2014 volume included $11.801 billion in single-family loans, $1.012 billion in home-equity conversion mortgages and $0.010 billion in Title I loans.
No change in July volume is likely based on new single-family and HECM applications, which inched up to 99,451 in June from 99,446 the prior month.
FHA finished the first half of the year with insurance in force on 8,470,924 loans for $1.2384 trillion.
The book was down from 8,477,648 loans for $1.2405 trillion as of the end of the first quarter. FHA had 8,464,797 loans insured for $1.2422 trillion as of the same point last year.
The June 30, 2014, total included $1.0884 trillion in single-family loans, $0.1490 trillion in HECMs and $0.0010 trillion in Title I loans.
FHA delinquency of at least 30 days, including foreclosures and bankruptcies, was 13.07 percent as of June 30, worsening from 12.92 percent as of March 31 but better than 14.98 percent as of June 30, 2013.
The 90-day delinquency rate on FHA loans was 7.14 percent, down 5 basis points from May.
HUD reported that FHA endorsed 181 commercial real estate loans for $1.812 billion during June. Multifamily originations accounted for $0.950 billion, and nursing home originations were $0.862 billion.
FHA CRE production was 109 loans endorsed for $1.042 billion the previous month.
The latest activity brought FHA insurance in force on CRE loans to 13,654 loans for $98.913 billion.
FHA’s CRE book was up from 13,607 loans for $98.229 billion three months earlier.