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The
FHA Loan Guide published an article indicating that FHA originations decreased slightly in May. The government report showed that FHA loan closings dropped 3% in May from April’s volume. FHA loan companies originated $22.3 billion of FHA loans for single-family homes in May. Almost 72% of the 124,750 FHA loan approvals went to borrowers buying a home. Of the 30,900
FHA refinance loans in May, 68% were conventional loan transactions with borrowers putting only 3.5% down-payments which are the minimum FHA requirements for home purchase transactions. The Federal Housing Administration indicated that 8.42% of its insured
FHA loans are 90 days or more past due which almost the same as the 8.49% reported in April. Read the original article online >
FHA Loan Production Dips Slightly.
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