Regarding the government shut down, a few things to know as it relates to the mortgage world.
- VA is operating as normal and is not affected
- FHA is operating a skeleton staff as long as the shutdown is brief
- We will be able to order FHA case numbers and appraisals
- We will be able to order CAVIR numbers
- There will be no condo’s recertification during the shut down
- USDA/RD (Rural Development) – is shut down, no RD loans will be guaranteed during the shut down
- IRS 4506 – requesting of tax transcripts is shut down. This will affect all loans, Conventional, FHA, VA and RD loans. On every loan we request the last 2 years tax transcripts from the IRS. This could delay processing on loans until this is back up and running.