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conforming loan limits

FHFA Sets GSE Loan Limits for 2012

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The Federal Housing Finance Agency (FHFA) has announced that, under terms set forth in the Housing and Economic Recovery Act of 2008 (HERA), the maximum conforming loan limits for mortgages acquired by the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac in 2012 will remain at existing levels except in Fairfield County, Conn., where it will increase.Click to continue

With Change in Lending Limits Looming, Wholesaler Launches New Jumbo Product

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TMS Funding, the wholesale residential lending channel of Total Mortgage Services LLC, has announced that it has launched a new flexible jumbo mortgage product into the wholesale marketplace. “This new jumbo mortgage product is further proof of TMS Funding’s commitment to the wholesale channel and the mortgage broker community,” said John Walsh, president of Total Mortgage Services LLC, the parent of Click to continue

Housing Reform Plan to Dissolve GSEs Submitted by Obama Administration

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The Obama Administration has delivered a report to Congress that provides a path forward for reforming America’s housing finance market. The Administration’s plan will wind down the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, and shrink the government's current footprint in housing finance on a responsible timeline. The plan also lays out reforms to continue fixing the fundamental flaws in the mortgage market through stronger consumer protection, increased transparency for investors, improved underwriting standards, and other critical measures.Click to continue

Maximum Conforming Limits to Remain Unchanged in the First Nine Months of 2011

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The Federal Housing Finance Agency (FHFA) has announced that, under terms set forth in a recently-enacted Congressional continuing resolution (Public Law Number 111-242), the maximum conforming loan limits for mortgages originated in the first nine months of 2011 will remain unchanged from existing loan limits for 2010 originations. Those limits are generally $417,000, but can be as much as $729,750 in certain high-cost areas in the contiguous United States.Click to continue

Max loan limits for Fannie and Freddie to remain unchanged for 2010

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The Federal Housing Finance Agency (FHFA) has announced that the maximum conforming loan limits for mortgages originated in 2010 will remain unchanged from the maximum levels for 2009 originations. Pursuant to a Congressional Continuing Resolution (Public Law Number 111-88), enacted Oct. 30, 2009, the highest loan limits that Fannie Mae and Freddie Mac may set for mortgages originated in 2010 are equal to the higher of the maximum limits determined under the Economic Stimulus Act of 2008 (ESA) and the Housing and Economic Recovery Act of 2008 (HERA).Click to continue