National FHA Refinancing Activity In Last 6 Months Tops $50 Billion.

I have posted an update to the U.S Current FHA Refinancing Report in the right pane of the blog; it includes state totals, as well as the U.S total. Highlights for the six months from April-Sept 2008:

1. All FHA Refinance Loans: More than 283,000 families refinanced using FHA mortgage insurance--FHA refinances were more than $50 Billion.
2. FHA Secure Refinance Loans: FHA Secure loans are refinances from conventional to FHA loans [Many of these were likely subprime ARM loans].

• More than 226,000 families refinanced using FHA Secure Loans; total loan volume was more than $41 Billion.
  
• Of those 226,000 loans less than 1% had delinquent borrowers (2,284 loans).
  
• FHA Secure loans represented 82% of all FHA refinances.