Richard Green is a professor in the Sol Price School of Public Policy and the Marshall School of Business at the University of Southern California.
This blog will feature commentary on the current state of housing, commercial real estate, mortgage finance, and urban development around the world. It may also at times have ruminations about graduate business education.
Friday, April 08, 2011
Rhonda Porter points out that a government shutdown would stop the mortgage underwriting process.
Lenders will not be able to order 4506Ts--tax transacripts--from the IRS. This is the principal source of income verification. Without it, lenders will not be able to underwrite borrowers.