Government Shutdown: What does it mean for your business with HUD?

The implications of the HUD Shutdown on new loans and loans for existing properties.
The implications of the HUD Shutdown on new loans and loans for existing properties.

Our team has been closely tracking the effects that the government shutdown may have on your business with the Department of Housing and Urban Development (HUD). Our goal is to help you make progress with your projects, as well as be a resource to help answer any questions you may have.

Can progress be made on any HUD loans?

To clear up ambiguities about what is and isn’t possible regarding new loan origination and existing loan servicing during this time, we’ve pulled together a document that addresses frequently asked questions, such as:

  • Can any new HUD loans be underwritten? Our team can underwrite loans and submit them to HUD for review upon the government reopening.
  • Are construction draws on construction loans still being processed? Yes, we can fund these draws under certain circumstances.
  • Is W&D able to rate lock on loans? Yes, we can rate lock loans under certain circumstances.
  • What will happen to the loans awaiting approval? We are tracking all critical dates associated with submitted loans, including expiration dates on third parties.

Our HUD Shutdown Plan

Our team is doing their utmost to advocate for your interests and get HUD back in business. Most recently, we have joined forces with the Mortgage Bankers Association, as well as regional lender organizations, to request that certain processes within HUD be permitted to restart.

View our HUD Shutdown Guidance report.

Expand your horizons with Walker & Dunlop, a leading HUD lender.

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