Update: Senate Passes, President Signs Stop-Gap Spending Bill

With less than an hour to spare before a government shutdown, the U.S. Senate late last Friday passed a short-term Continuing Resolution for Fiscal Year 2017 that funds the federal government through April 28, 2017. After passage by a vote of 63 to 36 on December 9, the bill was signed into law and enacted by the President.

The Continuing Resolution, which passed out of the U.S. House of Representatives a day earlier by a vote of 326 to 96, enables the Federal Housing Administration to continue insuring HECM reverse mortgages through next April, by which time the Congress must pass an appropriations bill for the Department of Housing and Urban Development or another CR.