Sharp staff cuts at FHA, VA and Ginnie Mae could lead to major problems for mortgage lenders and borrowers, according to analysts. But for now it appears to be business as usual for originations and servicing.

The correspondent lender has removed certain overlays on streamlined refinance programs at FHA and VA. Newrez, meanwhile, added some overlays.

The FHA wasn’t spared from the Trump administration’s workforce reduction plan. Some industry observers fear the layoffs will slow underwriting times and delay closings.