Residential business held up at the Federal Housing Administration, with refinances accounting for a bigger share of endorsements. But monthly loan performance deteriorated.
FHA finished the first month of its fiscal-year 2017 with insurance in force on 8,460,037 single-family loans, home-equity conversion mortgages and Title I loans for $1.2538 trillion.
The agency’s book of business was 8,461,151 loans for $1.2518 trillion as of Sept. 30, 2016, while it stood at 8,410,847 insured loans for $1.2261 trillion as of Nov. 30, 2015.
Source: Mortgage Daily