The Daily Item, Sunbury, PA

Online Only

October 5, 2013

Shutdown undercuts mortgage industry's loan approvals



While lenders and real estate agents say they are having trouble getting clear information from the government, Kathryn Joseph, a senior mortgage banker with Apex, said she is being realistic with her clients.

"I'm telling everybody, including the borrower and the agent, that depending on when the government opens and we get these forms processed, we can't guarantee a settlement date," she said.

Other lenders are proceeding with business as usual, if only to get ahead of what they believe will be a very long line once the government reopens.

"We're ordering the IRS transcripts so we can get in line, so our request is already in their inbox," said Richard Harbin, a senior loan officer with Monarch Mortgage. "We're still sending them in with the hope they're going to be addressed, at some point."

Text Only
Online Only

Seasonal Content

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.