A government shutdown starting Tuesday, October 1, 2013, seems almost certain to happen. To help prepare all departments for this, the following list highlights potential delays based by agency. FHA FHA will continue to insure loans in Lender Insurance; however, there will be a delay in processing the insurance requests. FHA Connection will be operating. VA The VA will remain running under business as usual. There should be limited to no disruption of service. GNMA WMC will be able to issue new securities, as there will be minimal impact on new issuer processing for the time being. USDA WMC is still waiting on guidance from USDA in regards to potential impact on services. However, we should expect no new guarantees during the shutdown. Additionally, without continuing resolution, new MSAs and Census Tract will apply to loans that do not have conditional commitment by September 30, 2013, which will impact loans currently in process. IRS Requests for tax transcripts, 4506-Ts, will not be processed during the shutdown. FNMA / FHLMC Minimal impact will be experienced due to the shutdown. See IRS for documentation processing delays.
Posted on: Mon, 30 Sep 2013 20:40:52 +0000
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