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Oct 2, 2025 2025-18

Government Shutdown

Dear Participating Lenders:

Housing New Mexico would like to remind its partners of HUD’s contingency plan for a possible lapse in appropriations in 2025. We understand that “banking and finance” operations are considered “critical and essential,” so we expect they will continue as normal. All Housing New Mexico single-family loan programs continue to function as normal. Implications of a government shutdown will vary depending on agency and program. We also wanted to provide an assigned risk level for the following as a prediction based on HUD’s contingency plan:

GNMA: Low to Moderate Risk

FHA: Moderate Risk

FNMA/FHMLC: Low Risk

Ginnie Mae is still operational on a limited capacity, as any interruptions to its operations would lead to losses for investors and increase mortgage rates for government-insured mortgage loans. A list of the limited activities is outlined on pages 21-23 of HUD’s contingency plan. The FHA resource center will remain open in the event of a shutdown to respond to any general questions (pg. 48). Fannie Mae/Freddie Mac is assumed to continue operations as normal in the event of a shutdown.

Should you have questions, please contact a member of the Housing New Mexico | MFA Homeownership Department at 505-843-6880 or by e-mail: singlefamily@housingnm.org

Thank you for participating in Housing New Mexico | MFA programs.