The government’s role in the housing market continues to expand. Here’s the latest from National Mortgage News: The Federal Housing Administration insured $27.3 billion in single-family mortgages in April — up 8% from the previous month due to higher mortgage purchase volume. Mortgage purchase volume rose $1.6 billion to $11.7 billion, while refinancings crept up by $350 million to $15.6 billion, according to an FHA monthly activity report. … Meanwhile, FHA servicers ramped up their loss mitigation efforts and completed 7,366 loan modifications in April, up from 4,837 in March. But this didn’t stop a 24 basis point increase in the FHA seriously delinquent rate in April and the percentage of FHA loans 90 days or more past due hit 7.32%. Over the past few months, FHA has accounted for roughly 25% of purchase loans in Orange County. It barely existed here during the housing boom because it could only insure small loan sizes

Read more here – Federally insured home loans keep growing