FHA National Loan Activity Report, FY 2008.

I seem to be on a FHA roll lately.

So, I might as well complete the run with a summary of national FHA loan volumes for FY 2008 that I assembled using data from the last FHA bi-weekly Outlook report from Sept 16-30th. (Sept. 30th. was the end of federal fiscal year 2008).

I have constructed and posted HERE a DRAFT two page summary which compares FY 2008 to FY 2007 production, and also to previous projections made for FY 2008.

Some highlights:

Increases from FY 2007 to FY 2008:

1. Total loan endorsements increased by 125.4%
2. Purchase endorsements increased by 126.9%
3. First time homebuyer purchase endorsements increased by 122.3%
4. Minority first time homebuyer purchase endorsements increased by 109.5%
5. Refinances increased by 211.4%
6. HECM'S increased by 4.3%

Compared to Projected Endorsements for FY 2008:

1. Total loan endorsements exceeded projections by 9.5%
2. Purchase endorsements exceeded projections by 24.8%
3. First time homebuyer purchase endorsements exceeded projections by 21.6%
4. Minority first time homebuyer purchase endorsements exceeded projections by 15.7%
5. Refinances fell below projections by 1.3%
6. Refinances of convention to FHA loans for delinquent borrowers fell below projections by 24.1%
   
7. HECM'S fell below projections by 15%