(Newswire.net — October 8, 2013) Denver, CO –According to CBS’s Money Watch, the government shutdown may have more of a ripple effect on our economy than previously perceived. It would seem that the entire mortgage market stands at risk to being completely frozen due to current government efficiency. Ilyce Glink from CBS states,
“Although initially it seemed the housing market would be largely unaffected by the government shutdown, lenders are hitting a roadblock that could cause major headaches in the mortgage market. The IRS is closed, and that means lenders cannot verify any tax information from applicants.”
This means that many mortgage lending companies will be at a standstill, unable to help their customers. Large and seemingly unshakable companies such as RPM Mortgage and New Jersey Based TD bank will have to halt all operations until the cease of the government shutdown.
Cyndy Benschop of PorchLight Real Estate Group said;
“Last week lenders were sending emails like crazy, saying that we need to prepare buyers & sellers that there is a good chance there will be delays on closing because of the government shutdown & their inability to verify transcripts & SSN’s, and it was a bit overwhelming for me and my clients”
However, some companies such as The Mortgage Company still remain completely functional and are helping home buyers regardless of the current government status due to superior management and coordination.
Benschop continued, “I called Karla Kyte from The Mortgage Company and asked her, what is going on?” “And Karla said that it’s ‘Business as Usual’ at The Mortgage Company, they are funding deals just like any other day because of their relationships with their investors.” “I trust Karla and it’s nice to have the peace-of-mind of working with someone that just takes care of business.”
But what sets The Mortgage Company even more apart is their inherent ability to provide unique programs catered to helping customers in difficult times. Not only do they remain operational, somehow disregarding the government standstill which rendered most all mortgage companies crippled, they are actually providing support to those who looked to the government for help.