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Hi all, we are in process for an FHA loan. Closing is set for 3 weeks from today, we have all of our things in and are approved, underwriting is just waiting for a few docs from the realtors and attorneys. Home is in MA.
My question is whether our loan is in jeopardy if the govt. shutsdown. Will it vary by lender? By that I mean, does the lender have the discretion to lend the money anyway, if we already have our case number and approval? Very worried we could lose the whole deal at no fault of the parties. Thanks for input.
We have a FHA loan and are set to close the 15th, I called my loan officer and she said we are fine since we are far enough along in the process. Our file is with the closing department. I would just call your loan officer they will know.
We have been advised that during the shutdown FHA Connection will be operational and that case numbers can still be obtained. However, during the shutdown, no one will be able to perform CAIVRS' checks or obtain insurance endorsements, including lender insurance. We anticipate a mortgagee letter will be released prior to the shutdown to address the systems and functions that will be affected.
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