"TEXAS LEADS NATION IN FHA-BACKED HOME LOANS"
06/25/08
Dallas Texas is the No. 3 county for FHA* volume in the entire country, because whit the shakeout in the mortage industry, federally backed FHA loans have a dramatically increase in volume. FHA market share has jumped from about 3% in 2005 to about 12% in 2008, that means, Texas volumes for the first quarter of this year was up almost 90% from the previous one.
It doesn't getting dramatically worse, but 2009 or maybe 2010 before you see it mostly stable. A lot of these loans should have never been made in the first place.
Since September 2007, the FHA has provided more than $76.1 billion in mortagages, but in the las October the new FHA it was 230,000 billion.
* FHA: Federal Housing Administration.
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