Time to move put your Property Economics paperwork on point.

[Gerino Alejos]

As a mortgage broker i've received over 20 emails from lenders saying they have halted funding, or made a few "adjustments" to their guidelines. Some adjustments include: 

1. Raising minimum credit score requirements
2. Lowering LTC & increasing rates 
3. Delay in closing (some courthouses are closed around the country) 
4. Difficulties in scheduling appraisals 
5. MOST- loan closings will require Gap Coverage for the Lenders (where applicable and appropriate). If the government recording office has closed and no Gap Coverage is provided by the title insurer for the Lender, the closings will have to be delayed until the government offices reopen.

These are the most notable/common adjustments I have seen in inbox.

IF YOU ARE TRYING TO REFINANCE: 

This is the time to get you Loan Request package in order, dig up all your documents and organize them neatly and appropriately- the last thing you want to happen in a time like this is delay the process even longer because you can't find "leases #5" or your LLC docs are missing and the government buildings are shut down.