WASHINGTON — The Federal Housing Administration's share of the mortgage market continued to drop in 2012, falling to 27% of first-lien mortgages after years of representing more than 30% of originations, according to data released Wednesday by federal regulators.

The amount of FHA loans skyrocketed in the wake of the financial crisis, rising to a high of 37% of the market in 2009. Since then, it has steadily tapered off, dropping to 36% in 2010 and 31% a year later.

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