Thursday, March 17, 2011

FHA delinquencies drop due to higher quality mortgage origination

I am the only one disturbed that FHA loan originated in 2009 are already 10% serious delinquent?  Also according to Dr Housingbubble FHA loans currently finance the purchases 32% of the homes sold in 2010.
The serious delinquency rate for mortgages in the Federal Housing Administration portfolio declined about 7%  in the first quarter of 2011 from one year ago.
The 8.29% rate dropped from 8.9% a year earlier, according to a quarterly update from the FHA. In the fourth quarter of 2010, the delinquency rate was 8.84%. All rates were reported on a seasonally adjusted basis.
FHA attributes the decline to higher quality mortgages originated from 2009 to 2011. The agency said mortgages from those most recent vintages currently comprise about half of all FHA insured loans in terms of volume.

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