There was a monthly up tick reported in new business at the Federal Housing Administration, though a dip will likely follow. Single-family delinquency tumbled 48 basis points.
FHA insurance was in force on 8,620,469 residential loans for $1.3333 trillion as of July 31, according to an analysis of data reported by the Department of Housing and Urban Development.
Included in the total outstanding were 8,031,487 single-family loans for $1.1874 trillion, 554,395 home-equity conversion mortgages for $0.1449 trillion, and 34,587 Title I loans for $0.0010 trillion.
Source: Mortgage Daily