• About
  • Contact
  • Bragging

My Consistent Pursuit

~ Life & Real Estate

My Consistent Pursuit

Tag Archives: government

Government Shutdown and Real Estate

01 Tuesday Oct 2013

Posted by JoannaGWilliams in Home Buyer Advice

≈ Leave a comment

Tags

government, real estate, shutdown

My friend, Wendy McDermott, is keeping everyone updated on the effect of the government shutdown on new loans and what it means for our real estate business.

THE SHUT DOWN IS A MOVING AND DEVELOPING SITUATION. I AM TRYING TO KEEP EVERYONE UPDATED AS BEST AS I CAN. FEEL FREE TO SHARE.
With respect to the government shut down, we do not anticipate significant impact to our day-to-day workflow:

  • FHA will be able to endorse single family loans during the shutdown, however, only a limited number of FHA staff will be available to underwrite and approve new loans so the process may take longer. SINCE MOST LENDERS have delegated authority, minimum impact – IT IS NOT COMMON FOR LOANS TO BE UNDERWRITTEN BY FHA. THIS WOULD ONLY EFFECT VERY SMALL MORTGAGE BANKERS.
  • Since many of the functions we use are electronic (ordering of case numbers, payment of MIP and/or Funding Fees, self-insuring of loans etc.), there is no change in this regard.
  • Anything that does require human intervention (loans sent to USDA for prior approval, assistance with VA on Certificate of Eligibility problems, loans that must be manually insured, etc.) will be delayed. However, we believe this is a very small portion of our business.
  • • We have been advised that there will be delay in IRS transcripts. Although they are ordered electronically, we have received notices from our vendors that those will have a delay. 
  • We have not yet received guidance on how to handle BORROWERS who are also government employees. I expect guidance on this topic later on today.

Thanks, Wendy for this update!

Advertisement

Recent Posts

  • Success equals Generosity
  • Serving the Newbies
  • Obligatory Back Scratching
  • Where are your Manners?
  • Compliment Much?

Topics

Archives

  • June 2019
  • October 2018
  • April 2018
  • November 2017
  • July 2017
  • March 2017
  • January 2017
  • October 2016
  • June 2016
  • May 2016
  • March 2016
  • February 2016
  • November 2015
  • September 2015
  • August 2015
  • July 2015
  • May 2015
  • April 2015
  • January 2015
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • September 2010
  • August 2010
  • July 2010

Meta

  • Register
  • Log in
  • Entries feed
  • Comments feed
  • WordPress.com

The Gist

JoannaGWilliams

JoannaGWilliams

Joanna jumped into the real estate business in 2000 and never looked back. A glance through her resume would have anyone confused because she’s actually never left the company with which she started. Change in the market and changes in ownership and locations have filled her 13 years in the real estate world. Change is a scary word for some, but Joanna has embraced it with courage and made the decision to not only survive, but to thrive. To break it down Prudential Snook was sold to Prudential Carter-Duffey in 2006, which was sold to Prudential Kansas City in 2009, which then rebranded themselves with a new franchise (Better Homes and Gardens Real Estate) in late 2012. Her personal motto is ‘Consistent Pursuit of Improvement’, which is clear in her dedication to her company, people and local real estate association.

View Full Profile →

Blog at WordPress.com.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy
  • Follow Following
    • My Consistent Pursuit
    • Already have a WordPress.com account? Log in now.
    • My Consistent Pursuit
    • Customize
    • Follow Following
    • Sign up
    • Log in
    • Report this content
    • View site in Reader
    • Manage subscriptions
    • Collapse this bar