The government shutdown is in effect for the first time in 17 years but, for the time being, reverse mortgage loan, insured HUD and FHA, will largely remain unaffected.The shutdown came as a rude awakening for many government workers, and tourists who hoped to visit Yosemite National Park during its birthday. The Department of Housing and Urban Development, however, was already prepared for the worst when they released a contingency plan yesterday, September 30, the same day the changes to the reverse mortgage program changes were implemented.According to an article published by Reverse Mortgage Daily, “HUD Makes Back-Up Plans in Case of Government Shutdown,” HUD has also specified that its Office of Single Family Housing will “continue to endorse new loans that will continue to strengthen the stability and health of the U.S. mortgage market.”In addition, the HUD will maintain the necessary operations up and running such as the FHA call center and national servicing call center to support its current portfolio. Ginnie Mae, whose role in the secondary mortgage market is vital to the stability of the primary mortgage market will also continue to operate as planned.While the government shutdown is less than ideal, reverse mortgage lenders can sleep soundly for time being. Since HUD has maintained it’s call center open lenders will have access to pertinent information, such as case numbers, necessary to close and fund reverse mortgages.Borrowers who beat the rush will also have peace of mind as their reverse mortgage loans will continue to be funded by lenders despite the shutdown. This contingency plan, not only demonstrates HUD’s ability to adapt, but also their ability to think about the future and create solutions to problems not in the foreseeable future but based on past and present data. While other sectors of the government experience a complete shutdown, HUD is putting their best foot forward and ensuring that seniors who have applied for a reverse mortgage continue to be insulated as much as possible.Interested in a reverse mortgage or simply have questions? Give PS Financial Services a call at (888) 845-6630 or send us an email at info@PSReverseMortgage.com. We do not pressure those who inquire, we are simply here to help.