Monthly production of mortgages that are insured by the government mostly held up but is likely to move lower. Residential delinquency worsened for the fourth consecutive month.
The Federal Housing Administration endorsed 119,053 residential loans for $23.549 billion in July, according to data reported by the Department of Housing and Urban Development.
Total endorsements — including single-family loans, home-equity conversion mortgages and Title I loans — slipped from 119,730 loans for $23.654 billion during the previous month.
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From:: Financing