Originations and loans are both way up. From the National Mortgage News Daily Briefing:

Federal Housing Administration single-family mortgage originations took off
in the first three months of this year, as FHA applications doubled to 181,900
between Dec. 31 and the end of March, according to Department of Housing
and Development data.

The data also show that FHA-insured loans jumped by 64%, to 89,000,
from December to March. Mortgage banking consultant Brian Chappelle
estimates that FHA lenders are now taking 200,000 FHA mortgage applications
per month and insuring 100,000 loans per month.

There are concerns that the FHA might not be able to handle the increase in
business. But Mr. Chappelle said the FHA direct-endorsement lenders manage
the whole approval process. From an origination standpoint, "there are no
backlogs because the lender controls the process," he said. Mr. Chappelle
is with Potomac Partners in Washington.

This means that more than ever it’s important to keep up to date on what the FHA can do for you — heck, it’s your tax dollars at work!

Ergo, you should set aside some time and some popcorn and watch VAR’s webcast, "Mortgage Lending in 2008: Back to the Future, How FHA can help you and your clients."

Since they raised their lending limits, many buyers are turning to FHA loans to finance their home purchases. It’s expected that FHA financing will account for approximately a third of all residential mortgages in the near future. If you’re like many REALTORS®, you’ve seen a dramatic rise in FHA interest from your clients and you’re not completely comfortable with your knowledge of FHA loans. We can help! NAR and VAR recently teamed up to produce a webcast on new FHA loan rules and requirements.

Katie Wethman, an Arlington REALTOR® has already posted a summary review of the webcast to her blog. Anthony Carr, a broker with Weichert’s Burke/Fairfax Station office, wrote us an e-mail saying, “THIS IS FABULOUS! I’ll be setting up a class in my office to review this video and have a Q&A with some lenders. Thanks for doing this. What a creative and EFFECTIVE use of technology!”

With the limits in some areas of the Commonwealth above $700,000, FHA loans are sure to be tapped more frequently than any time in recent history. Make sure you understand the special rules surrounding FHA loans by watching this free one hour webcast.