Thursday, October 3, 2013

Federal Government shutdown and their effect on FHA, VA, USDA loans in Kentucky

Federal Government shutdown and their effect on FHA, VA, USDA loans in Kentucky

 The following is what we know, so far, about what the impact will be to our loan production efforts.

FHA- While the FHA offices are open with a reduced staff, the automated systems are
currently up and running. We should be able to obtain case numbers and perform other
functions that require the FHA Connection website.

VA- VA has notified lenders that they will be operating at full staff and as usual to serve 
our Veterans.

USDA- USDA offices are closed during the shutdown. No conditional commitments can
be obtained and Crescent cannot close loans without an executed conditional
commitment from USDA. Also note that GUS is not available during the shutdown and
we will be unable to make corrections in the automated system.

IRS – The IRS offices are also closed. We will submit 4506T requests to our vendor as
normal to be delivered to the IRS when as they reopen.


Your business is very important to us and we will work to provide you with updated
information when it becomes available.

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