Showing posts with label shutdown USDA loans. Show all posts
Showing posts with label shutdown USDA loans. Show all posts

What Happens If the Federal Government Shuts Down and the effect FHA, VA, Fannie Mae, USDA Mortgage loans in Kentucky

How would this effect FHA, VA, Fannie Mae, USDA Mortgage loans in Kentucky?

Government shutdown affects on USDA, FHA, VA, Rural Housing, KHC and Fannie Mae Mortgage loans in Kentucky Government shutdown affects on USDA, FHA, VA, Rural Housing, KHC and Fannie Mae Mortgage loans in Kentucky

A federal government shutdown could impact your first mortgage loan closing through Kentucky FHA, VA, USDA and Fannie Mae Home Loans


Kentucky FHA and VA Mortgage loans and Government Shutdown 

  • Loans will be able to close as normal and access to FHA Connection and VA’s WebLGY system will be available. However, any function that requires staff involvement may be impacted by a shutdown.
Kentucky Fannie Mae Mortgage Loans
  • Loans will be able to close as normal.
RHS Guarantee Loans USDA Loans In Kentucky Housing Education and Counseling
  • Housing Education and Counseling Services should continue as usual.
Verification of Employment (VOE) on Conventional, FHA and RHS Loans for Federal Employees
  • Most Lenders will require a VOE 10 days prior to closing.
    • The only exceptions for conventional loans: 
      • The military can use Leave and Earnings Statement (LES).
      • Employment was validated by DU service and follows all conditions.
Flood Insurance
  • The National Flood Insurance Program (NFIP) expires at 11:59 p.m. September 30. As a result, KHC will follow agency guidelines in place during the federal government shutdown.
Federal Tax Transcripts and Social Security Validation
  • If federal tax transcripts or validation of social security numbers are required per underwriting or listed as an AUS finding, then they will be required prior to closing or purchase of a loan. SSA Form 89 is used to validate social security numbers.

Please stay tuned for further updates on this topic. These policies will be enacted only if the federal government shuts down and will remain in effect throughout the period of shut down.






Joel Lobb 

📞 Call/Text - 502-905-3708


 www.mylouisvillekentuckymortgage.com
 911 Barret Ave., Louisville, KY 40204

Evo Mortgage
Company NMLS# 1738461
Personal NMLS# 57916

Kentucky Mortgage Loan Expert For Kentucky FHA, VA, USDA, Fannie Mae and KHC Down payment Assistance Loans

Government shutdown affects on USDA, FHA, VA, Rural Housing, KHC and Fannie Mae Mortgage loans in Kentucky 



The view and opinions stated on this website belong solely to the authors, and are intended for informational purposes only. The posted information does not guarantee approval, nor does it comprise full underwriting guidelines. This does not represent being part of a government agency. The views expressed on this post are mine and do not necessarily reflect the view of my employer. Not all products or services mentioned on this site may fit all people.
NMLS ID# 57916, (www.nmlsconsumeraccess.org).


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