With talk of a partial government shutdown, I wanted to tell you a little bit about what you might expect if you have an upcoming closing or plan to start the process.

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 situation, please reach out. I’ll be happy to review the specifics with you.