New monthly business was modestly lower at the Federal Housing Administration. A decline in delinquency, however, was more pronounced.
During the first month of its fiscal-year 2016, FHA endorsed 123,854 residential loans for a total of $24.233 billion.
The findings were based on an analysis of FHA operational data that was provided by the Department of Housing and Urban Development.
Business was off slightly versus September, when 124,334 loans were endorsed for $24.580 billion.
But activity strengthened significantly compared to October 2014, a month when FHA endorsed 81,021 loans for $14.431 billion.
From Jan. 1, 2015, through Oct. 31, endorsements amounted to 1,086,016 loans for $213.700 billion.
October 2015 activity included $22.974 billion in single-family loans, $1.252 billion in home-equity conversion mortgages and $0.007 billion in Title I loans.
As of Oct. 31,
insurance was in force on 8,410,847 residential loans for $1.2261 trillion.
The total grew from 8,389,328 loans for $1.2208 trillion a month earlier and 8,450,688 loans for $1.2318 trillion a year earlier.
The most-recent figure reflected $1.0784 trillion in single-family mortgages, $0.1466 trillion in HECMs and $0.0010 trillion in Title I loans.
Delinquency of at least 30 days, including bankruptcies and foreclosures, closed out October 2015 at
12.09 percent, retreating four basis points from as of Sept. 30, 2015, and 89 BPS better than as of Oct. 31, 2014.
The foreclosure rate was 1.85 percent as of the latest date, while the 90-day rate was 5.79 percent.
In its commercial real estate business, FHA endorsed 98 loans for $1.030 billion.
CRE activity was down from 106 loans for $1.096 billion the prior month and 110 loans endorsed for $1.115 billion the same month during the prior year.
FHA’s CRE endorsements during the 10 months ended Oct. 31, 2015, came to 910 loans for $7.510 billion.
October 2015 CRE business included $0.665 billion in multifamily mortgages and $0.365 billion in nursing home loans.
The latest activity left FHA’s CRE book at 14,068 loans for $105.500 billion.
Outstandings grew from 13,995 loans for $104.492 billion at the end of September and 13,906 loans for $101.701 billion at the end of October of last year.
The Oct. 31, 2015, total insurance in force was comprised of $74.152 billion in multifamily mortgages, $23.907 billion in nursing home loans and $7.441 billion in hospital loans.
