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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.

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Start Your Manufactured Housing Education Today!

The Manufactured Housing Education Institute (MHEI) offers a wide variety of courses to help you grow your businesses.

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MHI Announces 2025 Excellence in Manufactured Housing Award Winners

MHI announced the 2025 Excellence in Manufactured Housing Award recipients last week during the MHI Congress & Expo in Orlando. The annual awards program honors MHI members in the manufactured and modular home industry who provide outstanding products, customer service, creative solutions, and state-of-the-art homes

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DOL Urged to Rescind Harmful Overtime Rule

MHI joined its business coalition in a recent letter to the Department of Labor (DOL) to advocate last year’s overbearing final rule on overtime be rescinded.

On Wednesday, MHI joined its business coalition partners in sending a letter to the U.S. Department of Labor urging the agency to delay implementation of the overtime final rule pending judicial review. There are currently four legal challenges to the overtime rule, yet the July 1 effective date has not changed despite this legal uncertainty.