Monthly new business at the Federal Housing Administration moved higher, while an improvement was recorded for delinquency. The agency grew its residential and commercial books of business.

FHA insurance was in force on 8,539,404 residential loans for $1.2848 trillion as of May 31 based on an analysis of data released by the Department of Housing and Urban Development.

The total — which includes single-family loans, home-equity conversion mortgages and Title I loans — increased from 8,524,330 loans for $1.2790 trillion as of the end of the preceding month.

Source: Mortgage Daily