Government Shutdown for REALTORS (NAR)

The United States Government remains closed today. Congress has failed to approve a Continuing Resolution (CR) providing funding for most government operations.  Therefore, spending authority for most of the government expired at midnight on September 30, 2013.  Until legislation providing for funding is signed into law, many offices and programs of the federal government are now shut down.  This means many, but not all, government programs, including some that impact federal housing and mortgage programs, have been suspended or slowed due to the lapse in government funding.  Attached is information based on NAR staff review of agency contingency plans for the current shutdown and past experience with previous shutdowns and near-shutdowns.  Read more… Govt Shutdown for REALTORS
Access a memo and video featuring NAR President-elect Steve Brown on the impact of the federal government shutdown on programs affecting real estate. In general, Fannie Mae, Freddie Mac, FHA mortgage finance, and federal flood insurance operations are proceeding without interruption, but impacts involving other agencies, including the IRS and Social Security Administration, to the extent they’re needed to provide information in a real estate transaction, could be an issue in some cases. The memo is being updated as additional information becomes available. Check REALTOR.org periodically for updates.