HUD Releases FHA Management Report

Last Friday HUD released its annual Fiscal Year 2024 FHA Management Report, in conjunction with its annual Mutual Mortgage Insurance (MMIF) Report. The reports, a financial scorecard of FHA’s finances, showed continued financial strength for FHA single family loans. FHA’s net worth increased from $145.29 billion to $172.76 in the last year, and its capital ratio increased from 10/51% to 11.47% in the same period.

The FHA Management Report showed that in Fiscal Year 2024, FHA insured 766,942 single family forward mortgages for a total origination mortgage amount of $231.53 billion.  FHA forward mortgages include manufactured home real property loans. 78.6% of all FHA loans were for home purchase (603,040 loans) , and of 82.64 percent of these FHA home purchase loans (498,363 mortgages) were for first-time homebuyers.

FHA also insured 26,501 HECM Reverse Mortgage Loans, with a total Maximum Claim Amount of $13.36 billion.