Single-family Loans Fall in Feb.

OriginationNews tells MHProNews.com FHA-backed single-family mortgages fell almost ten percent in Feb. from the previous month as lenders originated $16.5 billion in loans. According to HUD, lenders originated $8.4 billion of FHA loans and $6.8 billion of refinanced loans. Purchases fell 18 percent from January. Funding of reverse mortgages totaled $1.3 billion in February, but in this fiscal year, which began Oct. 2012, originations have fallen 20 percent compared to the same period for FY 2011. The serious delinquency rate for FHA-backed loans reached 9.8 percent in January, having risen for several months.

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