BREAKING NEWS: NAR releases memo about impacts of a government shutdown

Click here to read the NAR memo on the likely impacts of a government shutdown. 

Here are the highlights:

  • FHA can’t make any new loan guarantees but will continue to pay claims
  • VA Program lenders can continue processing loans like normal
  • IRS can’t process tax returns so buyers banking on that refund will have to wait
  • Flood Insurance program will NOT be impacted by shutdown
  • Rural Development program new guarantee commitments won’t be made
  • Fannie and Freddie and their regulator, FHFA, will continue operating normally
  • Government foreclosure programs like HAMP and HAFA will probably keep operating normally since they are funded through mandatory funds

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