Texas Home Lending News

PARTIAL GOVERNMENT SHUTDOWN WHAT TO EXPECT FOR MORTGAGE LOANS

September 30th, 2021 3:16 PM by Shawn Smith NMLS#863501



With talk of a partial government shutdown, here is what you should expect with any upcoming closings.

Chances are good that a partial shutdown will not impact most borrowers. There are a couple of cases where we may see delays:

  • Where we require third-party verifications that are available only through government agencies, such as tax transcripts, Social Security number confirmation or flood insurance documents.
  • Where borrowers are using certain government-sponsored loan programs, like USDA. On the other hand, FHA or VA loans may not see delays.

The most common Fannie Mae and Freddie Mac conventional loans should not be impacted, as long as the needed verifications have already been obtained or become available prior to settlement.

If you are concerned about a particular client, please reach out. I’ll be happy to review the specifics with you. Otherwise, we’ll do our best to keep things moving, even if Washington stalls.




Shawn Smith
MLO/Broker | NMLS # 863501

(214) 396-3650 | Mobile: (817) 706-8619
shawn@sublimefinancial.com

www.sublimefinancial.com
Sublime Financial, LLC
14785 Preston Rd Dallas TX 75254





NMLS # 1134044
Posted by Shawn Smith NMLS#863501 on September 30th, 2021 3:16 PM

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