MBA, NAR and NAHB issue joint letter seeking extension of loan limits

Oct 28, 2009

The Mortgage Bankers Association (MBA), along with the National Association of Realtors (NAR) and the National Association of Homebuilders (NAHB), has sent a letter to House Speaker Nancy Pelosi, House Minority Leader John Boehner, Senate Majority Leader Harry Reid and Senate Minority Leader Mitch McConnell calling for an extension of the current loan limits for Fannie Mae, Freddie Mac and the Federal Housing Administration (FHA). The current limits are slated to expire after Dec. 31, 2009. The letter explains that the market and consumers are already feeling the impact of the impending expiration of the existing limits. Therefore, the letter calls on Congress to act quickly in order to limit the uncertainty that is causing lenders to limit rate locks and refuse to underwrite some loans at current interest rates. For a copy of the joint letter, click here.

About the author

NationalMortgageProfessional.com

Link copied

Published

Oct 28, 2009

Analysis and Data

Homeownership Slips Further Away For Californians

Only 18% of Californians could afford a median-priced home in 2024, with affordability gaps persisting across ethnic groups

Buying a home in California became even harder across all ethnic groups last year, as surging mortgage costs pushed affordability further out of reach, according to the California Association of Realtors (C.A.R.). Only 18% of Californians earned enough to purchase the sta...

Analysis and Data

Mr. Cooper Shrinks Originations But Strengthens Borrower Retention Ahead Of Rocket Merger

Loan production fell 10% in Q1, but purchase share climbed and borrower recapture hit 51% amid broader strategic realignment

Mr. Cooper Group reported first-quarter 2025 results that reflect a mixed environment for mortgage production and servicing, as the company emphasized operational stability and strategic expansion despite a slowdown in origination volume. Loan Production Mr. Cooper fun...