Monthly new business was moderately higher in the Federal Housing Administration’s residential business, while loan performance improved. But commercial mortgage endorsements plunged.

Data reported by the Department of Housing and Urban Development indicate FHA insurance was in force on 8,613,099 residential loans for $1.3269 trillion as of May 31.

Reflected in the total were $1.1795 trillion in single-family loans, $0.1464 trillion in home-equity conversion mortgages and $0.0010 trillion in Title I loans.

Source: Mortgage Daily