There is another vote today at Noon in the Senate for a Continuing Resolution to resume government operations for another three weeks while an appropriations bill can be negotiated and passed.  If the CR is passed, it would still need to be approved by the House and the President.

 If the Shutdown were to continue it could delay some settlements.

 The IRS and SSA have temporarily ceased operations.  As a result, tax transcripts and SSN verifications will be unavailable until government operations resume. 

 Fannie Mae and Freddie Mac are not affected by the shutdown.

 FHA/Ginnie Mae – we think that HUD and Ginnie Mae will retain much of their functionality and FHA loans should not be affected short term.

 VA – in previous shutdowns, the VA has been exempt and has continued with full functionally.

 USDA – we believe that the shutdown will impact Rural Housing’s ability to issue loan commitments and to guarantee loans closed with outstanding commitments. 

 At First Home Mortgage, we understand the possible problems a delayed closing can cause and will be reviewing and approving exceptions on a case to case basis to close loans for borrowers that could possibly be affected.