HUD Reporting Baton Rouge FHA Lending Is Booming In Hard Times
The latest figures from HUD show that despite big claims for the period from June 16 through June 30 the FHA refinanced just 198 delinquent conventional mortgages. This is down 22 percent from the first 15 days of the month when 254 delinquent conventional borrowers were helped.
Given the incredible need for assistance by those hoping to avoid foreclosure, and given the fancy news releases and conference calls, it seems remarkable that HUD continues to have so little impact where it is most needed.
Here’s what HUD also says:
Due to the spectacular rise in activity, especially since March, it is necessary to re-estimate business activity for fiscal year 2008. It is now projected that there will be at about two million single family applications and roughly one million insurance endorsements — substantially higher than the estimates made last September.
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