MINNEAPOLIS (AP) – Minnesota executives, home buyers and small business owners are starting to see more delays following the first full week of business since the partial federal government shutdown began.
The Star Tribune reports that the Mortgage Bankers Association of America says one in five mortgages in Minnesota are backed by government agencies. Home buyers ineligible for a conventional mortgage are stuck in limbo amid the congressional standoff over President Donald Trump’s demand for billions of dollars to fund a U.S.-Mexico border wall.
Many small firms and entrepreneurs are putting off acquisitions and other deals while the federal Small Business Association is shut down.
Also stalled is a $4.3 billion acquisition by Minnesota’s largest company, UnitedHealth Group. The company is awaiting a review by the Federal Trade Commission to purchase DaVita Medical Group.
Information from: Star Tribune, http://www.startribune.com