FHA has stopped insuring new HECM loans and will resume when the government reopens.
Applications can still be taken and underwritten. FHA insuring will happen at a later date.
Due to the recent Government shutdown, staffing is limited and the following services have been affected:
• No processing of tax transcripts (4506-T).
• Federal tax lien(s) verification and payoff/demand(s) cannot be obtained
• Credit Alert Verification Reporting System (CAIVRS) cannot be cleared or updated
• FHA Insurance Endorsements
• FEMA updates indicating disaster declarations.
• Case assignment corrections, cancellations, reinstatement requests and EAD updates are delayed due to limited staff availability.
Marc has 36 years in financial services and 6 years in teaching.
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