Bulletin 18-63 originally issued 12-28-18 has been revised; refer to the highlight below
HomeBridge does not anticipate any significant impact to our day-to-day operations due to the government shutdown.
When submitting loans during the shutdown, please review the following reminders:
- FHA Connection will be available and will provide case numbers
- Fannie Mae/DU and Freddie Mac/LPA will be operating as normal
- The VA portal will be available and will issue case numbers. Transactions with Certificate of Eligibility issues that require VA intervention may be delayed
- USDA will be not be issuing new commitments and/or guarantees. GUS will be functional. USDA transactions with commitments already issued can close; USDA transactions without commitments from USDA cannot close.
Verbal Verification of Employment (All Programs)
Transactions involving a borrower who is a furloughed government employee will not be able to close until a VVOE can be obtained.
Flood Insurance (All Programs)
The NFIP is now issuing new flood insurance policies and renewing existing policies. Transactions requiring flood insurance will no longer be delayed due to the shutdown.
HomeBridge will continue to order transcripts on Jumbo/Jumbo Flex loans however funding will be delayed until transcripts are received.
HomeBridge will continue to order transcripts on full documentation Expanded/Expanded Plus and Simple Access loans however funding will be delayed until transcripts are received.
Transactions selected for a random sampling, HomeBridge will order the transcripts, and will allow the transcripts to follow post-closing.
HomeBridge will work diligently to minimize and resolve any issues that are a result of this shutdown. We will continue to monitor the situation and update you as information becomes available.
If you have any questions, please contact your Account Executive.