New loans insured monthly by the Federal Housing Administration rose, and further escalation is likely — though reverse mortgage volume was down again. Delinquency fell to the lowest rate in eight months. Multifamily business was off.
Data released by the Department of Housing and Urban Development indicate that FHA insurance was in force on 8,613,410 residential loans for $1.3224 trillion as of March 31.
FHA’s book of business consisted of $1.1736 trillion in single-family loans, $0.1479 trillion in home-equity conversion mortgages and $0.0010 trillion in Title I loans.
Source: Mortgage Daily