Posted by Christine/OK on 9/28/13 7:51pm
Msg #486393
"The government could stop insuring mortgages for . . ."
Important article regarding looming government shutdown.
http://www.washingtonpost.com/politics/as-government-shutdown-looms-americans-brace-for-possible-disruption-disappointment/2013/09/26/0d34a480-254e-11e3-ad0d-b7c8d2a594b9_story_1.html#!
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Reply by Bear900/CA on 9/28/13 10:34pm
Msg #486398
Yes, FHA could develop a gap in their pipeline
depending on how long a shut-down would last. Msg #485725
Theoretically, GSE’s could stop accepting loans. Purchases of MBS could stop temporarily. That would be a forced taper which would be premature.
Those are severe scenarios that while possible, I don’t think will happen. Typically, big banks will keep their warehouse lines open to smaller banks to make loans on the come that they will eventually be sold.
This happens annually with the USDA rural home loan program. A budget is set each year and runs out. Some banks will continue to lend knowing they can sell the loans once the program is funded again.
FHA and USDA are both government guaranteed loans that could/should eventually be sold later.
I feel home financing could be easily trumped by more immediate financial needs however.
JMO
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Reply by Christine/OK on 9/29/13 4:16am
Msg #486405
Great insights! Thanks, Bear900/CA + for other Msg # :D n/m
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Reply by MW/VA on 9/30/13 7:53am
Msg #486433
I'm sure this belongs in Just Politics, but this whole thing
is ridiculous & is blackmail. I hope Congress' paychecks are on the line here, too. Why do we allow them to get away with this?
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Reply by HARRY_PA on 9/30/13 9:10am
Msg #486437
They will continue to be paid n/m
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Reply by JanelWI on 9/30/13 9:56am
Msg #486439
Re: I'm sure this belongs in Just Politics, but this whole thing
Harry is right. Their paychecks are not on the chopping block for consideration, nor are they at risk when the government "shuts down". Keep in mind, the top one percent and one tenth of a percent continue to rake in trillions and pay less tax percentages than we do after deductions.
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Reply by HisHughness on 9/30/13 10:34am
Msg #486441
Re: I'm sure this belongs in Just Politics, but this whole thing
As much as I might agree with the sentiments, I always demand that posts from the other side of the spectrum migrate to Just Politics. This belongs there, too.
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