HUD has issued Directive Number: FR-4916-F-02, effective May 1st, 2006 revising the regulations under the single-family mortgage insurance program that require mortgagees to report the status of all single-family mortgages insured by HUD that are 90 or more days delinquent. The rule requires mortgagees to report to HUD mortgages that are 30 or more days delinquent on the last day of the month.

This final rule follows publication of the January 21, 2005, proposed rule, and takes into consideration the seven public comments received in response. HUD has decided to adopt the January 21, 2005, proposed rule with one minor change. For clarification purposes, the clause ``or that were reported as delinquent the previous month'' is being added to each section. This makes it clear that mortgages previously reported as delinquent or in default the previous month must be reported again in the latest reporting month. Except for that clarification, the proposed rule and this final rule are substantively identical.

To view the full release including HUD's responses to comments provided and specific changes to part 203, please click on the following link.

Word File - HUD Change in Default Reporting Period

PDF File - HUD Change in Default Reporting Period