Wednesday, October 9, 2013

Private Insurers Step Up as FHA Shuts Down

Private Insurers Step Up as FHA Shuts Down

Private mortgage insurers have been alerting clients and potential clients they will insure mortgage loans whose closing have been delayed or imperiled by the shutdown of the Federal Housing Administration.
“FHA will have limited staff during a shutdown,” according to a contingency plan prepared by the Department of Housing and Urban Development. “The longer the shutdown, the more serious the impact will be.”
The federal government entered its second week of shutdown on Monday.