Mortgage market could slow under government shutdown

10/1/2013 | CNBC · Bloomberg Businessweek · USA Today

The U.S. government shutdown could create a drag on mortgage approvals and, in turn, slow the housing market and economy if it lasts beyond a few days, analysts say. The Federal Housing Administration is keeping some bare-bones operations running during the government shutdown, but the agency's ability to approve loans is reduced. Meanwhile, the IRS and the Social Security Administration are unable to process income and identity checks, keeping mortgage applicants from completing the loan process.

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