The U.S. Department of Housing & Urban Development (HUD) has published a final rule that requires mortgagees to begin filing a monthly report of all Federal Housing Administration (FHA) loans in which the monthly payment is due but remains unpaid on the last day of the month. Previously, mortgagees did not report past due loans to HUD until they were 90 or more days delinquent. This change will provide HUD with more current delinquency information. This will in turn enable HUD to better monitor its loss mitigation program and will strengthen the soundness of the FHA Mortgage Insurance Funds. The rule effective date is May 1, 2006.