GOVT. SHUTDOWN for BUYERS & SELLERS – part 1

FEDERAL HOUSING ADMINISTRATION – HUD’s Contingency Plan states the FHA will endorse new loans in the Single Family Mortgage Loan Program, but not new commitments in the Multi-family  Program during the shutdown.  FHA will pay claims & collect premiums.  Expect some delay with FHA processing.  VA LOAN GUARANTY PROGRAM – lenders will continue to process & guaranty mortgages through Loan Guaranty program in the event of a government shutdown.  Again expect delays.  MORE TO COME.