Indian Home Loan Guarantees Restarted
After a brief suspension of activity caused by HUD running out of funding for the program, the Section 184 Indian Home Loan Guarantee program was restarted on March 27, 2013. The program resumption was made possible by an appropriation of $12 million for the program made available in the stopgap funding measure that is funding the federal government until the September 30 end of the current fiscal year. In its announcement HUD said it would begin accepting new applications immediately and will begin issuing loan approvals “no later than April 15.”
FHA and Rural Housing loans were not suspended and continue in operation. In both cases furloughs of federal employees due to sequestration could result in slowing the processing times for those loans. VA loans and all veterans programs were exempted from the across the board cuts.