WSJ: FHA Loans Set Record in June
To say that the U.S. is making some noise as a mortgage lender would be a slight understatement. The Wall Street Journal’s Developments blog is reporting that the FHA guaranteed almost 186,000 mortgages in June, a monthly record for the agency in its 75-year history.
The total number of loans last month surpasses the previous record of 157,000 last October.
The Journal notes that the bustling loan activity is keeping Ginnie Mae, which generates mortgage-backed securities for loans backed by the FHA, very busy. Having never crossed the $40 billion threshold in a month’s span, the mortgage association issued $43.5 billion in mortgage-backed securities in June.
These recent developments may look positive, but as the Journal notes, they could be an unfortunate harbinger for taxpayers.
“FHA loans have grown in popularity over the year because it remains one of the only sources of low down payment mortgages. But critics of the agency worry that it hasn’t ramped up its risk-management capabilities and that it could saddle taxpayers with the bill for bad loans. The number of seriously delinquent loans backed by the FHA rose in May to 7.42% from 6.47% one year ago.”
See other articles related to: dclofts
This article originally published at https://dc.urbanturf.com/articles/blog/wsj_fha_loans_set_record_in_june/1154.
Most Popular... This Week • Last 30 Days • Ever
The big news in the development pipeline east of DC's H Street Corridor is the resur... read »
In this article, UrbanTurf looks at the estimated annual maintenance costs associated... read »
Today, UrbanTurf is examining one of our favorite metrics regarding competition in th... read »
Another concept has been unveiled for one of DC's most contentious development sites,... read »
The residential development in the works along Florida Avenue NE is looking to increa... read »
- The 4 Projects In The Works Near DC's Starburst Intersection
- What Are the Annual Maintenance Costs When You Own a Home?
- The 6 Places In The DC Area Where You Aren't The Only One Bidding On a Home
- A First Look At The New Plans For Adams Morgan's SunTrust Plaza
- 46 to 48: The Biggest Project In Trinidad Looks To Get Bigger
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro