Oregon FHA Snapshot Report for FY 2008: $2.4 BILLION in Oregon FHA Loan Activity [Excluding HECMS].

I have updated the Oregon FHA Current Snapshot Report in the right pane to include information for the HUD Fiscal Year which just ended in September.

The report includes information on all FHA loans (except reverse mortgages/HECMS) during that period but note that FHA Secure loan data is only available for the 6 months from April-September 2008.

With current credit restrictions in the market, the surge in FHA loan volume is striking, especially refinancing of conventional loans (most likely ARMS) into fixed rate FHA financing via the FHA Secure loan program.

Highlights of the Report

12 Month Data

• Purchase and Refinance Totals: 11,784; $2.4+ BILLION.
• All Refinance (includes refinances for both existing conventional and FHA loans): 6,317 loans; $1.3+BILLION

6 Month Data for FHA Secure Loans [These are FHA refinances of previously conventional loans].

• 3,771 loans; $814 Million.
  
• Note.Only 40 [about 1%] of these refinances of conventional loans were for delinquent borrowers.
  

Most Recent Month-September 2008

• Purchase and Refinance Total: 1,733 loans; $368+ Million
• All Refinances:776 loans, $167+ Million
• FHA Secure Refinances: 710 loans; $155+ Million

(If your interested in keeping HUD data by FY, I would suggest you download this report and rename it as it will be replaced with another report at the same link next month).