Spreadsheet: 938a08d6-dfcb-43df-95ba-6633850d7702
Sheet: Sheet1

FHA SINGLE-FAMILY OUTLOOK | Unnamed: 1 | Unnamed: 2 | Unnamed: 3 | Unnamed: 4 | Unnamed: 5 | Unnamed: 6 | Unnamed: 7 | Unnamed: 8 | Unnamed: 9 | Unnamed: 10
SINGLE-FAMILY OPERATIONS
December 2012
 |  |  |  |  |  |  |  |  |  | CONTACT INFORMATION
 |  |  |  |  |  |  |  |  |  | [NAME]  [PHONE]
 |  |  |  |  |  |  |  |  |  | ZENORA HINES  [PHONE]
Applications
During December, lenders initiated 127,057 applications for FHA single-family mortgages.
There were 49,927 applications for home purchase, 69,880 for refinancing, and 7,250 for reverse mortgages. Included in the refinance total were 55,185 prior FHA transactions and 14,695 conventional-to-FHA conversions.  There were 636 principal-write-down cases for borrowers in negative equity situations in the conversion total.
Endorsements
This month FHA insured 113,856 single family mortgages.
During December, 53,239 purchase money mortgages were insured, along with 56,706 refinance and 3,911 HECM loans.
Within the refinance total, 49,632 were prior FHA cases, of which 46,337 were handled using streamline procedures. There were also 7,074 conventional conversions to FHA, of which 135 were principal-write-down cases.
Mortgage Insurance Volumes
FHA insured 113,856 mortgages for $20.9 billion this month.  On December 31 there were 7,749,412 mortgages-in-force with an amortized balance of almost $1.1 trillion.
Loans Delinquent
At the end of December loan servicers reported 734,658 mortgages in serious delinquency, yielding a default rate of 9.5 percent.
Claims
During the first quarter of this fiscal year, FHA paid 41,187 regular and 47,909 special claims, for a total of 89,096.
The regular claims include 27,530 property conveyances, 7,999 pre-foreclosure-sale actions, and 5,658 other claims.
The special claims involved 43,312 loss mitigation (home retention) actions and 4,597 HECM loan assignments.
FHA SINGLE-FAMILY OUTLOOK
SINGLE-FAMILY OPERATIONS
December 2012
MONTHLY  COMPARISONS
 | CURRENT |  | LAST |  | RATE OF |  | LAST |  | RATE OF
 | MONTH |  | MONTH |  | CHANGE |  | YEAR |  | CHANGE
TOTAL APPLICATIONS:  * | 127057 |  | 151574 |  | -0.161749376542151 |  | 110427 |  | 0.1505972271274236
Annual Rate | 2391800 |  | 2532900 |  | -0.05570689723242128 |  | 1865900 |  | 0.2818479018168176
Average per workday | 9454 |  | 10011 |  | -0.05563879732294474 |  | 7375 |  | 0.2818983050847457
Purchase | 49927 |  | 63234 |  | -0.2104405857608249 |  | 57234 |  | -0.1276688681552923
Refinance | 69880 |  | 80914 |  | -0.136367006945646 |  | 47101 |  | 0.4836203053013737
Prior FHA | 55185 |  | 63641 |  | -0.1328703194481545 |  | 26060 |  | 1.117613200306984
Conventional to FHA | 14695 |  | 17273 |  | -0.149250274995658 |  | 21041 |  | -0.3016016349032841
Short Refinance | 636 |  | 386 |  | 0.6476683937823835 |  | 274 |  | 1.321167883211679
HECM | 7250 |  | 7426 |  | -0.02370051171559384 |  | 6092 |  | 0.1900853578463559
TOTAL ENDORSEMENTS:  * | 113856 |  | 120911 |  | -0.05834870276484361 |  | 93739 |  | 0.2146065138309561
Annual Rate | 1366300 |  | 1450900 |  | -0.0583086360190227 |  | 1124900 |  | 0.2145968530536049
Weighted Average FICO Score  ** | 696 |  | 696 |  | 0 |  | 698 |  | -0.002865329512893977
Minority | 29032 |  | 30047 |  | -0.0337804106899191 |  | 24179 |  | 0.2007113610984739
% Minority | 0.2549887577290613 |  | 0.2485050987916732 |  | 0.006483658937388059 | # | 0.2579395982461942 |  | -0.002950840517132958 | #
Purchase | 53239 |  | 57247 |  | -0.07001240239663209 |  | 58589 |  | -0.09131406919387597
% Purchase | 0.4675994238336144 |  | 0.473463952824805 |  | -0.00586452899119061 | # | 0.6250226693265343 |  | -0.1574232454929199 | #
Average FICO Score  ** | 695 |  | 695 |  | 0 |  | 696 |  | -0.001436781609195359
1st Time Home Buyer | 41526 |  | 44890 |  | -0.07493873914012028 |  | 44856 |  | -0.0742375601926164
% 1st Time Home Buyer | 0.7799921110464133 |  | 0.7841458941079882 |  | -0.004153783061574878 | # | 0.7656044650019628 |  | 0.01438764604445053 | #
Non-Minority | 25485 |  | 28152 |  | -0.09473572037510658 |  | 27396 |  | -0.06975470871660094
% Non-Minority | 0.6137118913451813 |  | 0.6271329917576297 |  | -0.01342110041244837 | # | 0.6107544141252006 |  | 0.002957477219980742 | #
Minority | 13744 |  | 14261 |  | -0.03625271720075729 |  | 14890 |  | -0.07696440564137008
% Minority | 0.3309733660838993 |  | 0.3176876809979951 |  | 0.01328568508590416 | # | 0.3319511325129303 |  | -0.000977766429031024 | #
Not-Disclosed | 2297 |  | 2477 |  | -0.07266855066612843 |  | 2570 |  | -0.1062256809338521
% Not-Disclosed | 0.05531474257091942 |  | 0.05517932724437514 |  | 0.0001354153265442845 | # | 0.05729445336186909 |  | -0.001979710790949669 | #
Refinanced | 56706 |  | 59228 |  | -0.04258121158911321 |  | 30515 |  | 0.8582991971161724
% Refinanced | 0.4980501686340641 |  | 0.4898479046571445 |  | 0.008202263976919588 | # | 0.3255315290327399 |  | 0.1725186396013242 | #
Average FICO Score  ** | 701 |  | 699 |  | 0.002861230329041398 |  | 706 |  | -0.007082152974504208
Prior FHA | 49632 |  | 51878 |  | -0.0432938817996068 |  | 19017 |  | 1.609875374664774
Streamline | 46377 |  | 48490 |  | -0.0435759950505259 |  | 14840 |  | 2.125134770889488
Streamline % of Refinance | 0.8178499629668818 |  | 0.8187006145741879 |  | -0.0008506516073060189 | # | 0.4863182041618876 |  | 0.3315317588049942 | #
Streamline % of Prior FHA | 0.9344173114119922 |  | 0.9346929334207178 |  | -0.0002756220087255512 | # | 0.7803544197297155 |  | 0.1540628916822767 | #
Full Process | 3255 |  | 3388 |  | -0.03925619834710747 |  | 4177 |  | -0.2207325831936797
Cash Out | 569 |  | 623 |  | -0.086677367576244 |  | 670 |  | -0.1507462686567164
Conventional to FHA | 7074 |  | 7350 |  | -0.03755102040816327 |  | 11498 |  | -0.3847625674030266
Cash Out | 1941 |  | 2076 |  | -0.06502890173410403 |  | 3144 |  | -0.3826335877862596
Total Cash Out | 2510 |  | 2699 |  | -0.07002593553167835 |  | 3814 |  | -0.3418982695332984
Total % Cash Out | 0.04426339364441153 |  | 0.04556966299723104 |  | -0.001306269352819509 | # | 0.1249877109618221 |  | -0.08072431731741053 | #
Short Refinance | 135 |  | 125 |  | 0.08000000000000007 |  | 148 |  | -0.08783783783783783
HECM | 3911 |  | 4436 |  | -0.1183498647430117 |  | 4635 |  | -0.1562028047464941
% HECM | 0.03435040753232153 |  | 0.03668814251805046 |  | -0.002337734985728937 | # | 0.04944580164072584 |  | -0.01509539410840432 | #
HECM Standard Traditional | 3464 |  | 3923 |  | -0.1170022941626306 |  | 4075 |  | -0.1499386503067485
HECM Stndrd Traditional ARM | 852 |  | 932 |  | -0.0858369098712446 |  | 1219 |  | -0.3010664479081214
HECM Standard Purchase | 156 |  | 153 |  | 0.01960784313725483 |  | 109 |  | 0.4311926605504588
HECM Stndrd Purchase ARM | 4 |  | 1 |  | 3 |  | 3 |  | 0.3333333333333333
HECM Standard Refinance | 69 |  | 82 |  | -0.1585365853658537 |  | 156 |  | -0.5576923076923077
% HECM Standard Refinance | 0.01764254666325748 |  | 0.01848512173128945 |  | -0.0008425750680319706 | # | 0.03365695792880259 |  | -0.01601441126554511 | #
HECM Stndrd Refinance ARM | 12 |  | 14 |  | -0.1428571428571429 |  | 87 |  | -0.8620689655172413
HECM Saver Total | 223 |  | 278 |  | -0.197841726618705 |  | 296 |  | -0.2466216216216216
Source:     *  F17 CHUMS | #   -  Percentage point difference
**  This series represents the composite FICO score value that is used for loan underwriting.
FHA SINGLE-FAMILY OUTLOOK
SINGLE-FAMILY OPERATIONS
December 2012
MONTHLY  COMPARISONS
 | CURRENT |  | LAST |  | RATE OF |  | LAST |  | RATE OF
 | MONTH |  | MONTH |  | CHANGE |  | YEAR |  | CHANGE
FORWARD ENDORSEMENTS ONLY: *
Section 203(k) | 1555 |  | 1718 |  | -0.0948777648428405 |  | 1978 |  | -0.2138523761375126
Condominium | 5016 |  | 5303 |  | -0.05412030925891009 |  | 3188 |  | 0.5734002509410288
% Condominium | 0.04405564924114671 |  | 0.04385870599035654 |  | 0.0001969432507901644 | # | 0.03400932376065458 |  | 0.01004632548049213 | #
ARM (Excludes HECM ARM) | 493 |  | 566 |  | -0.1289752650176679 |  | 2106 |  | -0.7659069325735992
% ARM | 0.004330030916245082 |  | 0.00468112909495414 |  | -0.0003510981787090582 | # | 0.02246663608530067 |  | -0.01813660516905559 | #
Manufactured Housing (Real Estate) | 2036 |  | 2006 |  | 0.01495513459621134 |  | 1618 |  | 0.2583436341161929
Interest Buy-down | 267 |  | 288 |  | -0.07291666666666663 |  | 371 |  | -0.2803234501347709
Average Processing Time *  ^
(Existing Homes, weeks)
Application to Closing | 7.4 |  | 7.1 |  | 0.04225352112676073 |  | 6.1 |  | 0.2131147540983609
Closing to Endorsement | 3.9 |  | 3.8 |  | 0.02631578947368429 |  | 4 |  | -0.02500000000000002
Lender Insurance *
Total Lender Insurance | 92545 |  | 96987 |  | -0.04579995257096314 |  | 72393 |  | 0.2783694556103491
% of Total Insurance | 0.8128249718943227 |  | 0.8021354550040939 |  | 0.01068951689022879 | # | 0.7722826144934339 |  | 0.04054235740088874 | #
Forward Mortgages | 92545 |  | 96987 |  | -0.04579995257096314 |  | 72389 |  | 0.2784400944894942
HECM | 0 |  | 0 |  |  |  | 4
Automated Underwriting System *  x
AUS Endorsed | 61004 |  | 65432 |  | -0.06767330969556185 |  | 71721 |  | -0.1494262489368525
AUS as % of Total Endorsed | 0.554859247805721 |  | 0.5617686198755097 |  | -0.0069093720697887 | # | 0.8049133596695995 |  | -0.2500541118638785 | #
Mortgage Insurance  *
Total Number | 113856 |  | 120911 |  | -0.05834870276484361 |  | 93739 |  | 0.2146065138309561
Total Amount ($B) | 20.9 |  | 22 |  | -0.05000000000000004 |  | 16.7 |  | 0.2514970059880239
Forward Mortgages
Total Forward Number | 109945 |  | 116475 |  | -0.0560635329469843 |  | 89104 |  | 0.2338952235589873
Amount ($B) | 20 |  | 21 |  | -0.04761904761904767 |  | 15.6 |  | 0.2820512820512822
Purchase Number | 53239 |  | 57247 |  | -0.07001240239663209 |  | 58589 |  | -0.09131406919387597
Amount ($B) | 9.4 |  | 9.9 |  | -0.0505050505050505 |  | 9.7 |  | -0.03092783505154628
Refinance Number | 56706 |  | 59228 |  | -0.04258121158911321 |  | 30515 |  | 0.8582991971161724
Amount ($B) | 10.6 |  | 11.1 |  | -0.04504504504504503 |  | 5.9 |  | 0.7966101694915253
Reverse Mortgages
HECM Number | 3911 |  | 4436 |  | -0.1183498647430117 |  | 4635 |  | -0.1562028047464941
Max Claim Amount ($B) | 0.9 |  | 1 |  | -0.09999999999999998 |  | 1.1 |  | -0.1818181818181819
Mortgage Insurance-In-Force **
Total Number | 7749412 |  | 7747702 |  | 0.0002207106055447383 |  | 7414979 |  | 0.04510235295339338
Total Unpaid Balance Amount ($B) | 1088.3 |  | 1088.6 |  | -0.0002755833180231315 |  | 1036 |  | 0.05048262548262539
Loans Seriously Delinquent ***  <
Seriously Delinquent | 734658 |  | 735276 |  | -0.000840500709937464 |  | 711082 |  | 0.0331551072872045
Seriously Delinquent Rate | 0.095 |  | 0.095 |  | 0 | # | 0.096 |  | -0.001000000000000001 | #
Source:     *  F17 CHUMS     **  A43 Single Family Insurance System     ***  F42D Consolidated Single Family Default Monitoring System
#     Percentage point difference
^     Existing homes, including purchase and refinance cases, represent virtually all of insurance activity.
x     AUS includes only forward mortgages accepted and endorsed by the FHA scorecard (TOTAL).
<     This count of seriously delinquent mortgages includes all bankruptcies, all foreclosures and 90 days or more delinquencies.
FHA SINGLE-FAMILY OUTLOOK
SINGLE-FAMILY OPERATIONS
December 2012
FISCAL YEAR COMPARISONS
 | PROJECTIONS |  |  |  |  |  | RATE OF
 | FY 2013 |  | FY 2013 |  | FY 2012 |  | CHANGE |  | FY 2012
 | AS OF OCT 2012 |  | TO DATE |  | TO DATE |  | 2013/2012 |  | FINAL
TOTAL APPLICATIONS: * | 1800000 |  | 452583 |  | 365697 |  | 0.2375901360962764 |  | 1826191
Purchase | 907200 |  | 186970 |  | 194895 |  | -0.04066292106005798 |  | 921175
Refinance | 810000 |  | 242691 |  | 149880 |  | 0.6192353883106485 |  | 821543
Prior FHA | 486000 |  | 193601 |  | 82261 |  | 1.353496796780977 |  | 564574
Conventional to FHA | 324000 |  | 49090 |  | 67619 |  | -0.2740206155074757 |  | 256969
Short Refinance |  |  | 1372 |  | 848 |  | 0.6179245283018868 |  | 3268
HECM | 82800 |  | 22922 |  | 20922 |  | 0.09559315553006398 |  | 83473
TOTAL ENDORSEMENTS: * | 1368000 |  | 365416 |  | 269984 |  | 0.3534727983880526 |  | 1239874
Minority | 342000 |  | 91582 |  | 69973 |  | 0.3088191159447216 |  | 311812
% Minority | 0.25 |  | 0.2506239464062876 |  | 0.2591746177551262 |  | -0.008550671348838634 | # | 0.2514868446309867
Purchase | 807100 |  | 177895 |  | 176215 |  | 0.009533808132111243 |  | 733959
% Purchase | 0.5899853801169591 |  | 0.4868287102918318 |  | 0.6526868258859785 |  | -0.1658581155941467 | # | 0.591962570390217
1st Time Home Buyer | 605300 |  | 138981 |  | 135011 |  | 0.02940501144351204 |  | 569912
% 1st Time Home Buyer | 0.7499690249039772 |  | 0.7812529863121505 |  | 0.7661720057883835 |  | 0.01508098052376694 | # | 0.7764902399180336
Non-Minority | 387400 |  | 86437 |  | 82560 |  | 0.04695978682170532 |  | 353119
% Non-Minority | 0.6400132165868164 |  | 0.621933933415359 |  | 0.611505729162809 |  | 0.01042820425254998 | # | 0.6196026755007791
Minority | 181600 |  | 44874 |  | 44381 |  | 0.01110835717987424 |  | 183392
% Minority | 0.3000165207335206 |  | 0.322878666868133 |  | 0.3287213634444601 |  | -0.005842696576327022 | # | 0.3217900307415882
Not-Disclosed | 36300 |  | 7670 |  | 8069 |  | -0.04944850663031353 |  | 33396
% Not-Disclosed | 0.05997026267966298 |  | 0.05518739971650801 |  | 0.05976550058884091 |  | -0.004578100872332902 | # | 0.05859852047333623
Refinanced | 492500 |  | 175430 |  | 79827 |  | 1.197627369185864 |  | 451095
% Refinanced | 0.360014619883041 |  | 0.4800829739256081 |  | 0.2956730769230769 |  | 0.1844098970025311 | # | 0.3638232594602355
Prior FHA | 344800 |  | 152654 |  | 47954 |  | 2.18334236977103 |  | 321820
Streamline | 293100 |  | 140784 |  | 36696 |  | 2.836494440810988 |  | 274160
Streamline % of Refinance | 0.5951269035532994 |  | 0.802508122898022 |  | 0.4596940884663084 |  | 0.3428140344317136 | # | 0.6077655482769705
Streamline % of Prior FHA | 0.8500580046403712 |  | 0.9222424567977255 |  | 0.7652333486257663 |  | 0.1570091081719592 | # | 0.8519047914983531
Full Process | 51700 |  | 10175 |  | 11258 |  | -0.09619825901581103 |  | 47660
Cash Out | 7200 |  | 1859 |  | 1848 |  | 0.005952380952380931 |  | 7558
Conventional to FHA | 147700 |  | 22782 |  | 31879 |  | -0.2853602685153236 |  | 129293
Cash Out | 39900 |  | 6394 |  | 8804 |  | -0.2737392094502499 |  | 35098
Total Cash Out | 47100 |  | 8253 |  | 10652 |  | -0.2252159218926023 |  | 42656
Total % Cash Out | 0.09563451776649746 |  | 0.04704440517585361 |  | 0.1334385608879201 |  | -0.08639415571206652 | # | 0.09456101264700341
Short Refinance |  |  | 379 |  | 313 |  | 0.2108626198083068 |  | 1440
HECM | 68400 |  | 12091 |  | 13942 |  | -0.1327643092813082 |  | 54820
% HECM | 0.05 |  | 0.03308831578256015 |  | 0.05164009719094465 |  | -0.0185517814083845 | # | 0.04421417014954745
HECM Standard Traditional | 59800 |  | 10691 |  | 12243 |  | -0.1267663154455607 |  | 47950
HECM Stndrd Traditional ARM | 58600 |  | 2539 |  | 3426 |  | -0.2589025102159953 |  | 12858
HECM Standard Purchase | 2000 |  | 464 |  | 359 |  | 0.2924791086350975 |  | 1612
HECM Stndrd Purchase ARM | 1900 |  | 12 |  | 14 |  | -0.1428571428571429 |  | 56
HECM Standard Refinance | 1800 |  | 227 |  | 388 |  | -0.4149484536082474 |  | 1440
% HECM Standard Refinance | 0.02631578947368421 |  | 0.01877429493011331 |  | 0.02782957968727586 |  | -0.009055284757162552 | # | 0.02626778547975191
HECM Stndrd Refinance ARM | 1700 |  | 41 |  | 145 |  | -0.7172413793103448 |  | 418
HECM Saver Total | 4800 |  | 710 |  | 953 |  | -0.25498426023085 |  | 3820
Source:     *  F17 CHUMS
#     Percentage point difference
FHA SINGLE-FAMILY OUTLOOK
SINGLE-FAMILY OPERATIONS
December 2012
FISCAL YEAR COMPARISONS
 | PROJECTIONS |  |  |  |  |  | RATE OF
 | FY 2013 |  | FY 2013 |  | FY 2012 |  | CHANGE |  | FY 2012
 | AS OF OCT 12 |  | TO DATE |  | TO DATE |  | 2013/2012 |  | FINAL
FORWARD ENDORSEMENTS ONLY: *
Section 203(k) |  |  | 5024 |  | 6142 |  | -0.1820253988928687 |  | 22495
Condominium |  |  | 15831 |  | 9126 |  | 0.7347140039447733 |  | 44970
% Condominium |  |  | 0.04332322613131336 |  | 0.0338020030816641 |  | 0.00952122304964926 | # | 0.03626981451341024
ARM (Excludes HECM ARM) |  |  | 1662 |  | 7391 |  | -0.7751319171965905 |  | 20351
% ARM |  |  | 0.004548240908991396 |  | 0.02737569633756074 |  | -0.02282745542856935 | # | 0.01641376462446991
Manufactured Housing (Real Estate) |  |  | 6076 |  | 4909 |  | 0.2377266245671217 |  | 20479
Interest Buy-down |  |  | 892 |  | 1147 |  | -0.2223190932868352 |  | 4670
Lender Insurance *
Total Lender Insurance | 980000 |  | 295449 |  | 207743 |  | 0.4221851037098723 |  | 975544
% of Total Insurance | 0.716374269005848 |  | 0.8085278148740066 |  | 0.7694641163920825 |  | 0.03906369848192415 | # | 0.7868089822030303
Forward Mortgages | 960400 |  | 295449 |  | 206935 |  | 0.4277381786551333 |  | 974735
HECM | 19600 |  | 0 |  | 808 |  | -1 |  | 809
Automated Underwriting System  * x
AUS Endorsed | 1094400 |  | 202865 |  | 211783 |  | -0.04210914001595978 |  | 880319
AUS as % of Total Endorsed | 0.8421052631578947 |  | 0.5741597679190547 |  | 0.8271416408245522 |  | -0.2529818729054976 | # | 0.7428513806121915
Mortgage Insurance  *
Total Number | 1368000 |  | 365416 |  | 269984 |  | 0.3534727983880526 |  | 1239874
Total Amount ($B) | 248.6 |  | 75.99999999999999 |  | 47.9 |  | 0.5866388308977033 |  | 226.5
Forward Mortgages
Total Forward Number | 1299600 |  | 353325 |  | 256042 |  | 0.3799493833043017 |  | 1185054
Amount ($B) | 231.1 |  | 73.19999999999999 |  | 44.6 |  | 0.6412556053811655 |  | 213.4
Purchase Number | 807100 |  | 177895 |  | 176215 |  | 0.009533808132111243 |  | 733959
Amount ($B) | 141.9 |  | 40.4 |  | 29.2 |  | 0.3835616438356164 |  | 124.5
Refinance Number | 492500 |  | 175430 |  | 79827 |  | 1.197627369185864 |  | 451095
Amount ($B) | 89.2 |  | 32.8 |  | 15.4 |  | 1.12987012987013 |  | 88.9
Reverse Mortgages
HECM Number | 68400 |  | 12091 |  | 13942 |  | -0.1327643092813082 |  | 54820
Max Claim Amount ($B) | 17.5 |  | 2.8 |  | 3.3 |  | -0.1515151515151516 |  | 13.2
Claims  **
Total Claims | 291000 |  | 89096 |  | 61259 |  | 0.4544148614897403 |  | 284196
Regular | 147000 |  | 41187 |  | 28702 |  | 0.434987108912271 |  | 142779
Conveyances | 105000 |  | 27530 |  | 18801 |  | 0.464283814690708 |  | 102236
Pre-Foreclosures | 38000 |  | 7999 |  | 9807 |  | -0.1843581115529723 |  | 36740
Other Claims | 4000 |  | 5658 |  | 94 |  |  |  | 3803
Special | 144000 |  | 47909 |  | 32557 |  | 0.4715422182633535 |  | 141417
Loss Mitigation Retention | 132000 |  | 43312 |  | 30387 |  | 0.42534636522197 |  | 129626
HECM Assignments | 12000 |  | 4597 |  | 2170 |  | 1.118433179723502 |  | 11791
Source:     *  F17 CHUMS     **  [NAME]
#     = Percentage point difference
x     AUS includes only forward mortgages accepted and endorsed by the FHA scorecard (TOTAL).