In an advisory to its employees when a government shutdown threatened its funding in January this year, HUD had said that in case of a shutdown, the agency's operations and most of its functions would cease "unless they are legally excepted activities." A large majority of HUD employees are non-excepted, which means that they are prohibited from working during a shutdown.
As the 116th congress gets sworn in and the Democrats take over the house amid a partial government shutdown, experts worry about the impact this will have on the U.S. housing market. Sharing her insights, Diana Olik of CNBC discusses the risks of lending in the absence of proper channels to verify borrowers’ tax returns and how this will shape home lending in the near future.
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