FHA lending in February hit the lowest monthly total since late 2008 thanks to a huge decline in purchase-money lending, and unlike the trend at the government-sponsored enterprises, the drop wasn’t offset by an increase in FHA refinances. Lenders originated only $24.4 billion in FHA-insured mortgages in February, down 9.6 percent from the $27.0 billion in January and off 29.3 percent from the $34.5...