It could have been a lot worse. But the big, bad government shutdown caused little more than a whimper as far as the mortgage industry is concerned. And since it might all happen again in a couple of months, we now have a template the mortgage agencies can reuse.
Fannie Mae and Freddie Mac remained open for business as they continued to take advantage of their dual identities as public/private entities. It’s simple. When the government shuts down, they put on their private company colors.