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Tag Archives: Shutdown

GSEs Address Shutdown Woes

Fannie Mae and Freddie Mac have issued a set of additional guidelines to help lenders assist borrowers impacted by the continued government shutdown while offseting the risk associated with interruption of income.

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Tackling the Effect of the Shutdown

While the effects of the longest government shutdown in history are being felt by the housing market, it has particularly affected affordable housing and community development. Here’s how lenders and housing agencies are addressing the challenges associated with this shutdown.

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Mortgage Industry Saved Headaches as Government Avoids Shutdown

With just hours to spare, Congress overwhelmingly approved a short-term spending bill which would prevent the weekend shutdown, avoiding potential clogs in the mortgage industry. A government shutdown would have slowed the mortgage process and even prevented some buyers from closing, as access to tax information and social security would have been halted during the shutdown. The housing market is stronger now than it was in 2013, and application volume is greater, meaning that that more buyers could have been affected.

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What Would a Government Shutdown do to Mortgages?

With the federal funding running out on Friday and a potential government shutdown looming, expect to see an impact on the mortgage industry. Access to tax documents and other government paperwork may prove difficult in the event of a shutdown. Furloughs at the IRS and Social Security can cause roadblocks in the application process.

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