The monthly origination of government-insured mortgages accelerated. At the same time, the rate of late payments moved lower.
From the beginning of July through the end of the month, the Federal Housing Administration endorsed 79,477 residential loans for $14.055 billion.
Federally insured mortgage production increased from the previous month, when FHA endorsed 73,703 loans for $12.823 billion.
The findings were determined from an analysis of data released by the Department of Housing and Urban Development.
The most recent activity brought endorsements to 467,717 loans for $82.209 billion during the seven months ended July 31.
Since beginning its fiscal-year 2014 on Oct. 1, 2013, FHA has endorsed 690,736 loans for $121.414 billion.
During just July of last year, endorsements totaled 112,245 mortgages for $20.196 billion.
July 2014 activity included $12.970 billion in single-family loans, $1.075 billion in home-equity conversion mortgages and $0.010 billion in Title I loans.
Refinance share was 20.1 percent during the most recent month, off from 21.9 percent in the previous report.
Upcoming business is unlikely to vary much from July based on new applications, which slipped to 103,704 in July from 105,596 in June.
Insurance in force as of July 31 was 8,459,441 loans for $1.2357 trillion. Outstandings included $1.0855 trillion in single-family loans, $0.1492 trillion in HECMs and $0.0010 trillion in Title I loans.
Overall outstandings dipped from the end of the previous month, when the total was 8,470,924 loans for $1.2384 trillion.
FHA’s total book stood at 8,459,638 loans for $1.2422 trillion as of July 31, 2013.
Delinquency of at least 30 days, including foreclosures and bankruptcies, was 12.95 percent, improving from 13.07 percent a month earlier and 14.40 percent 12 months earlier.
The 90-day rate was 6.98 percent as of July 31, while the foreclosure rate was 2.25 percent and the bankruptcy rate was 1.03 percent.
FHA additionally endorsed 105 commercial real estate loans for $1.032 billion in July. Multifamily accounted for $0.742 billion, while nursing deals made up $0.290 billion.
Total CREÂ loan business sank compared to June, when volume came in at 181 loans for $1.812 billion.
Calendar-year 2014 to date volume totals 877 loans endorsed for $8.389 billion, while fiscal-year 2014 CRE activity from Oct. 1, 2013, through July 31, 2014, amounted to 1,297 endorsements for $12.774 billion.
FHA finished July with a CRE book of 13,786 loans for $100.210 billion. Outstandings expanded from 13,654 loans for $98.913 billion at the close of the previous month.
The latest CRE total in force included $68.937 billion in multifamily loans, $22.392 billion in nursing home loans and $8.881 billion in hospital loans.
