GOVT. SHUTDOWN for BUYERS & SELLERS – part 5

SOCIAL SECURITY ADMINISTRATION (SSA) – The Social Security Administration is closed and has suspended most customer service functions.  According to the SSA Contingency Plan, verifying Social Security numbers through the Consent Based SSN Verification Service will also be suspended during the shutdown, a further complication for mortgage processing.  As with IRS income verification (discussed on this blog yesterday), policies may vary with each lender.  Fannie Mae and Freddie Mac have also adopted policies to allow for closing subject to subsequent verification and before GSE purchase of the loan.  END OF THIS SERIES OF BLOGS!  NEW SUBJECT TOMORROW.