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Patricia Cook to join Green Tree as head of business development

National Mortgage Professional
Feb 05, 2009

iEmergent announces release of 2009 FHA Market ForecastMortgagePress.comiEmergent, 2009 FHA Market Forecast, statistics, Dennis Hedlund, FHA default levels, Purchase Mortgage Conversion Rates iEmergent, a Des Moines, Iowa-based market research, forecasting and advisory services firm for the financial services, mortgage and real estate industries, released its 2009-2013 FHA Purchase forecasts to provide lenders with current information about the size and scope of FHA lending opportunities in individual markets nationwide, as well as how these opportunities will be changing over the next five years. Using iEmergent's FHA Purchase forecasts and simple analytical tools, financial institutions can better quantify the FHA lending opportunities in their desired markets throughout the United States and identify where the size and potential growth of FHA lending opportunities match their capabilities, as well as indicate where their oversight needs to be more diligent. iEmergent's 2009 FHA forecasts fully consider the impact--both positive and potentially negative--of many significant changes to the FHA lending programs that were implemented in 2008, as well as changes that will occur in 2009 as a result of the serious challenges facing the housing market and the general economy. Currently, iEmergent is forecasting 1.4 million owner-occupied FHA purchase loans in 2009, for a total purchase volume of $245.9 billion. With the inclusion of FHA refinance transactions, iEmergent projects that total FHA funding could reach $400 billion for 2009. "The rapid expansion of FHA loan volumes in the United States has been accompanied by an equally rapid shift in the distribution of FHA lending across local mortgage markets," said Dennis Hedlund, founder and president of iEmergent. "While greater access to the FHA loan program is a positive for borrowers, especially first-time home buyers, its quick expansion and rapidly changing distribution patterns might be cause for alarm to some lenders. History has shown that whenever any loan product's popularity grows by a magnitude of five to eight times its normal trend in a short period of time, prudent oversight efforts such as increased FHA training, the close tracking of loan package submission and documentation quality, and the constant evaluation of loan data integrity--is necessary. An increase in early FHA default levels would undoubtedly cause FHA to contract the program at a time when the FHA product is critical to stabilizing struggling housing markets." iEmergents FHA Purchase Forecast is available for all geographic markets and contains the Purchase Mortgage Conversion Rates (PMCRs), sizes of total FHA purchase lending opportunities, FHA mortgage density and projections of future FHA mortgage growth speeds for each geographic market. For more information, visit www.iemergent.com.
Published
Feb 05, 2009
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