IBM this past weekend worked on fixing a new government website critical to FHA lenders but the system, known as “SAM,” was not functioning at full speed as of Monday morning.
“SAM is still experiencing some performance issues, which may result in a slowness of page loading or maybe even a webpage error. We are working to improve these issues as quickly as possible. We appreciate your patience,” the General Services Administration website says.
Bud Carter, a consultant with Potomac Partners, told National Mortgage News Monday that SAM “seems to be running a bit better.” (SAM stands for System for Award Management.)
The Federal Housing Administration requires lenders to check GSA’s website before approving a loan to make sure the borrower, their real estate agent or loan officer has not been barred from doing business with the federal government.
Lenders were unable to check names against the debarment list and reported difficulty reaching GSA for guidance.
NMN asked GSA Monday morning when the new “Excluded Parties List” system would be up and running at full speed but offered no comment by deadline.
