Fannie Mae, Willie, Usda discussed on KLIF Specialty Programming

Automatic TRANSCRIPT

Now, the flip side of the government shutdown Willie are any government employees that have possibly been furloughed. So maybe you're a part of that shutdown. Maybe you said, okay, you're on leave. If you wanna call it that until the government's back up and running. So there's going to be. Some issues with that. So basically, what Fannie Mae saying is that if a borrower is furloughed honor after the closing of the mortgage loan due to the shutdown. The mortgage remains eligible for sell to Fannie Mae. But if it's before that, and you can't get a leave and earnings statement, if you're military if you can't get a pay stub within the last thirty days, you're probably out of luck. And they can't because another part of the mortgage process is a verbal verification of employment. Even though you send in pay stubs and things like that for a mortgage. The lenders always going to call and do a verbal verification mortgage right before the lime closes sure. And if that entity is shutdown that piece of the government shutdown, and your furloughed, guess what? There's solution to all this. The solution is well donavan house during the government shutdown to get the government back up and running. But it's to be aware of what it may have an how it may have an impact on the type of mortgage that you're getting like I said, whether it's conventional government being FHA USDA, so people just need to be aware of how that's going to impact them and be realistic. And by being aware names, knowing your loan officer has the knowledge to guide you down the proper path not so sure that that happens all the time..

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