Oregon FHA Home Loan Purchase Loans 2003-2007: Claims Rates.

Using HUD provided data, I have extracted FHA home purchase loan claim rate information for Oregon FHA loans endorsed during the 5 years from FY 2003-FY 2007. ["Claims" occurr when HUD/FHA pays an insurance claim to the lender, generally when a foreclosure has occurred; "Home Purchases" exclude refinances and HECM loans].

I have prepared the one page PDF HERE, that summarizes claims rates by minority status, by FICO credit score ranges, by loan to value ratio, and by the source of down payment.

Of particular note is the low claims rate that the data shows for home purchases in Oregon--only 1.35%. This is likely substantially below FHA claims rates nationwide for the same period. (Will I look at that later? You betcha!)

Non Profit Down Payment Source Claims Rate 3.6 Times the Claim Rate of Other Down Payment Sources.
Note that by source of down payment, loans where the source of the down payment was non profit "gift funds" there was a claims rate of 3%, while loans that used all other sources for down payment had a claims rate of .8%. The non profit claims rate calculates out to 3.6 times the claims rate when the source of down payment came from either the borrower, the employer, or family.