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Seriously Delinquent FHA Loans Jump Four Percent in November
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Seriously Delinquent FHA Loans Jump Four Percent in November
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Seriously Delinquent FHA Loans Jump Four Percent in November

December 28, 2011 (Shirley Allen)

The number of seriously delinquent loans insured by the Federal Housing Administration (FHA) jumped up 4.2 percent from October to November and is 17.0 percent higher than a year ago according to the agency’s Single-Family Outlook report for November.

An additional 27,792 loans became 90 days or more past due in November bringing the total number of seriously delinquent loans in the FHA’s portfolio to 689,346. In the last year, the number of seriously delinquent loans has increased by 100,399.

A total of 125,596 FHA loan applications were submitted in November, 3.1 percent lower than the 129,675 applications submitted in the previous month of October. Total applications were also lower than in November of last year when 141,199 applications were submitted, a decline of 11.1 percent.

Refinance loan applications declined by 2.0 percent from October to November with a total of 50,730 applications submitted in November compared to 51,772 submitted in October.

Refinance applications continued to be significantly lower compared to last year despite the historically low interest rates in November. The total amount of applications submitted were 26.5 percent lower than the 69,062 refinance applications submitted in November of 2010.

The total number of purchase loan applications was also lower in November, declining by 4.6 percent compared to October. A total of 67,358 applications were submitted in November to purchase homes, down from 70,580 applications submitted in October. Purchase applications were 5.4 percent higher than in November of last year when 63,920 applications were submitted.

The total number of FHA insured loans that were completed in November increased 0.2 percent from October, rising from to 88,060 to 88,206. November’s loan completions continued to remain well behind last year’s pace of 131,258 loan completions.

Purchase money mortgages accounted for 64.7 percent of all completed FHA insured loans in November with 57,038 completed, a decline of 5.9 percent from October and 12.1 percent lower than the 64,896 purchase money mortgages in November of 2010.

Completed FHA insured refinance loans accounted for 30.1 percent of all completed loans in November, which was 55.7 percent lower than last year. The 26,514 loans completed in November were still 15.4 percent higher than in October.

The average FICO score for a homebuyer securing an FHA loan in November was 695, down from 696 in October and down from 700 a year ago. For refinanced transactions, the average FICO score in November was 703, unchanged from both the previous month and from a year earlier.

At the end of November, the FHA had 7,376,641 insured single-family mortgages in its portfolio with an amortized balance of $1.030 trillion.

The number of loans insured by the FHA has increased by 9.4 percent in the last year while the amortized balance has increased by 11.9 percent.

The serious delinquency rate, homes that were 90 days or more past due, was 9.3 percent in November, up from 9.0 percent in October and also up from 8.7 percent in November 2010.

Tags: FHA, Single-family Outlook report, loan originations, purchase loans, refinance loans, FICO score, serious delinquency rate

Source:
HUD

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

December 28, 2011 (Shirley Allen)

The number of seriously delinquent loans insured by the Federal Housing Administration (FHA) jumped up 4.2 percent from October to November and is 17.0 percent higher than a year ago according to the agency’s Single-Family Outlook report for November.

An additional 27,792 loans became 90 days or more past due in November bringing the total number of seriously delinquent loans in the FHA’s portfolio to 689,346. In the last year, the number of seriously delinquent loans has increased by 100,399.

A total of 125,596 FHA loan applications were submitted in November, 3.1 percent lower than the 129,675 applications submitted in the previous month of October. Total applications were also lower than in November of last year when 141,199 applications were submitted, a decline of 11.1 percent.

Refinance loan applications declined by 2.0 percent from October to November with a total of 50,730 applications submitted in November compared to 51,772 submitted in October.

Refinance applications continued to be significantly lower compared to last year despite the historically low interest rates in November. The total amount of applications submitted were 26.5 percent lower than the 69,062 refinance applications submitted in November of 2010.

The total number of purchase loan applications was also lower in November, declining by 4.6 percent compared to October. A total of 67,358 applications were submitted in November to purchase homes, down from 70,580 applications submitted in October. Purchase applications were 5.4 percent higher than in November of last year when 63,920 applications were submitted.

The total number of FHA insured loans that were completed in November increased 0.2 percent from October, rising from to 88,060 to 88,206. November’s loan completions continued to remain well behind last year’s pace of 131,258 loan completions.

Purchase money mortgages accounted for 64.7 percent of all completed FHA insured loans in November with 57,038 completed, a decline of 5.9 percent from October and 12.1 percent lower than the 64,896 purchase money mortgages in November of 2010.

Completed FHA insured refinance loans accounted for 30.1 percent of all completed loans in November, which was 55.7 percent lower than last year. The 26,514 loans completed in November were still 15.4 percent higher than in October.

The average FICO score for a homebuyer securing an FHA loan in November was 695, down from 696 in October and down from 700 a year ago. For refinanced transactions, the average FICO score in November was 703, unchanged from both the previous month and from a year earlier.

At the end of November, the FHA had 7,376,641 insured single-family mortgages in its portfolio with an amortized balance of $1.030 trillion.

The number of loans insured by the FHA has increased by 9.4 percent in the last year while the amortized balance has increased by 11.9 percent.

The serious delinquency rate, homes that were 90 days or more past due, was 9.3 percent in November, up from 9.0 percent in October and also up from 8.7 percent in November 2010.

Tags: FHA, Single-family Outlook report, loan originations, purchase loans, refinance loans, FICO score, serious delinquency rate

Source:
HUD

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

December 28, 2011 (Shirley Allen)

The number of seriously delinquent loans insured by the Federal Housing Administration (FHA) jumped up 4.2 percent from October to November and is 17.0 percent higher than a year ago according to the agency’s Single-Family Outlook report for November.

An additional 27,792 loans became 90 days or more past due in November bringing the total number of seriously delinquent loans in the FHA’s portfolio to 689,346. In the last year, the number of seriously delinquent loans has increased by 100,399.

A total of 125,596 FHA loan applications were submitted in November, 3.1 percent lower than the 129,675 applications submitted in the previous month of October. Total applications were also lower than in November of last year when 141,199 applications were submitted, a decline of 11.1 percent.

Refinance loan applications declined by 2.0 percent from October to November with a total of 50,730 applications submitted in November compared to 51,772 submitted in October.

Refinance applications continued to be significantly lower compared to last year despite the historically low interest rates in November. The total amount of applications submitted were 26.5 percent lower than the 69,062 refinance applications submitted in November of 2010.

The total number of purchase loan applications was also lower in November, declining by 4.6 percent compared to October. A total of 67,358 applications were submitted in November to purchase homes, down from 70,580 applications submitted in October. Purchase applications were 5.4 percent higher than in November of last year when 63,920 applications were submitted.

The total number of FHA insured loans that were completed in November increased 0.2 percent from October, rising from to 88,060 to 88,206. November’s loan completions continued to remain well behind last year’s pace of 131,258 loan completions.

Purchase money mortgages accounted for 64.7 percent of all completed FHA insured loans in November with 57,038 completed, a decline of 5.9 percent from October and 12.1 percent lower than the 64,896 purchase money mortgages in November of 2010.

Completed FHA insured refinance loans accounted for 30.1 percent of all completed loans in November, which was 55.7 percent lower than last year. The 26,514 loans completed in November were still 15.4 percent higher than in October.

The average FICO score for a homebuyer securing an FHA loan in November was 695, down from 696 in October and down from 700 a year ago. For refinanced transactions, the average FICO score in November was 703, unchanged from both the previous month and from a year earlier.

At the end of November, the FHA had 7,376,641 insured single-family mortgages in its portfolio with an amortized balance of $1.030 trillion.

The number of loans insured by the FHA has increased by 9.4 percent in the last year while the amortized balance has increased by 11.9 percent.

The serious delinquency rate, homes that were 90 days or more past due, was 9.3 percent in November, up from 9.0 percent in October and also up from 8.7 percent in November 2010.

Tags: FHA, Single-family Outlook report, loan originations, purchase loans, refinance loans, FICO score, serious delinquency rate

Source:
HUD

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS