Fannie, Freddie ease lending crunch during shutdown

Posted by Bonnie Martin Designated Broker on Thursday, October 10th, 2013 at 9:54am.

housekeys_voronin_450money.cnn.com - Typically, Fannie and Freddie require lenders to verify a borrower's income with the Internal Revenue Service before closing on a mortgage. But last week, some lenders reported that they could not approve the mortgages because the shutdown had severely curtailed the IRS's operations.

The government-backed mortgage giants have since said lenders could continue to issue new loans even without the IRS's confirmation.

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