Government Shutdown Impacts Some Mortgage Loans
PITTSBURGH (NewsRadio 1020 KDKA) — President Obama met with top lawmakers Wednesday on what many hoped to be the end of a two-day government shutdown.
The meeting ended with no resolution and today marks day number three of a prolonged shutdown.
Mortgage programs among other sectors are being impacted.
Mike Henry of Dollar Bank joined KDKA’s Robert Mangino to discuss the mortgage programs affected.
“If somebody has applied for a FHA loan with us, we can still approve that loan, we don’t have to send it to FHA for approval,” said Henry.
Dollar Bank is able to approve FHA loans because they have FHA underwriters.
“USDA is not currently funding loans,” said Henry.
USDA home loans will remain inactive until the government shutdown ends.
Listen to The Dollar Bank Hour every Wednesday at 7 p.m. on NewsRadio 1020 KDKA