FHA Secure Program Has Helped Less than 2,000 Homeowners So Far.

HERE I recently posted some national current Fiscal Year FHA Outlook Reports data, including the number of conventional delinquent borrowers receiving FHA refinance loans.

As it turns out, according to the NY Times story HERE, the goal that I reported in my earlier post for FHA refinances of conventional loans with delinquent borrowers loans IS the FHA Secure loan program count.

As the story reports, and as I previously indicated in my blog post, the expected total loan volume for this type of loan for the fiscal year is only 4,000 loans and only 1,729 loans endorsed as of the end of March. The goal of 4,000 loans is far less than the 60,000 expected borrowers that were previously publicly projected as receiving FHA Secure program help.

As I reported in the previous post HUD does project that it will make/endorse a total of 278,000 conventional to FHA loan refinance loans this year, but as indicated above, only a very small number of those borrowers will be FHA Secure loans --i.e. delinquent at the time of loan application.