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. Comments are closed.
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Marc has 36 years in financial services and 6 years in teaching.
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November 2020
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