Tuesday, October 8, 2013

Shutdown halts USDA loans | 2013-10-08 | HousingWire

Shutdown halts USDA loans | 2013-10-08 | HousingWire



While the U.S. Department of Agriculture (USDA) only makes up 1.45% of the mortgage market, it’s closing sheds some light on how the government shutdown could put a drag on the housing market.
Per Businessweek:
"This is going to be devastating for people in the middle of getting USDA loans and for the communities that rely on the loans to support their housing markets," said Camden Fine, president and chief executive officer of the Independent Community Bankers of America. "Everything has ground to a halt until the agency opens for business again."
Source: Businessweek