The impact of the FHA tightened loss mitigation procedures can now be seen in the November FHA MBS data and it is…… dramatic. Last month I predicted we would see the following in the FHA MBS data for November: A collapse in the number of partial claims A large spike in the delinquency rate An even larger spike (by MoM percentage increase) spike in the serious delinquency rate Did we see these things? Yes, Yes, and Yes.