How is the government shutdown impacting mortgage loans?The full impacts are largely speculation as this is an unprecedented event, we can't fully know what will be effected.
The current impacts are already being felt. VA and FHA loans are still being processed, insured, and guaranteed by the government, for now. Conventional loans are also still being processed. The problem is that there are a lot of third party verifications required to process mortgage loans.
The investors who fund mortgage loans require tax transcripts and SSN verifications for borrowers. Since the IRS and Social Security Administration are shut down, there is no way to get these verifications.
Some lenders have issues notices stating that they will except loan applications without these verifications, but this is not across the board for all lenders, and there is no guarantee that this waiver will continue.