Did we loose our loan?

My fiance and I are in the process of buying our first home. We were in the final doc stages when all of this happened yesterday and escrow was set to close tomorrow. We received a call last night informing us that our lender is now waiting for someone to back the loan as we are doing an FHA and we all know what is happening with this. My question is can we loose our loan now and end up loosing the home?