Servicers can comply with the new policies as of Oct. 1, but the mandatory compliance date was extended to Dec. 30.

FHA shut down its loan review system after users reported having issues logging in.

There's the possibility for a borrower to be behind by one or two months on payments, and the servicer has missed FHA's deadline to start a foreclosure.

The flow of refinances declined 21.5% on a monthly basis to $8.90 billion in July.

Some $54.47 billion of FHA purchase mortgages were included in Ginnie Mae mortgage-backed securities issued in the second quarter, up 28.9% from the previous quarter.

“Gravity is being tested,” said Mark Garland, a managing director at SitusAMC.

Loans one payment past due increased 19 basis points during the second quarter, after declining during the first quarter.

Among other differences, Congress doesn’t appear to be budgeting for a reduction in force at HUD.

“By tearing down these onerous hurdles, we’re freeing professionals from a tangle of red tape that drove up costs, inhibited access to homeownership, and discouraged market participation,” said HUD Secretary Scott Turner.

Jonathan Gould was the senior deputy comptroller and chief counsel at the OCC during the latter half of the first Trump administration.