Fannie Mae High Balance Loan Limits...Going, going, gone?

Frank and Sharon,  Helping consumers understand housing affordability is crucial is the current market.  Waiting and sitting on the fence will likely cost money, even if the property loses another 5 to 10 percent in value.  Thanks for your comment!

Meg,  Thanks for the official definition...appreciate it much!!  The return to standard loan limits looms large for your market and mine!

Carla,  Hey, my friend, how are you?  Hope the information helps your clients.

Elliott,  Hope the info helps!  Sorry, I no longer do loans nationally...the NMLS licensing system makes it almost impossible unless I went back to the big box banks....and I would switch to real estate before that happens!!

Pamela,  Hey, you, Thanks!  My first posted video since the conference (long story).  Not perfect, but I am trying to get over myself and focus on implementation, not perfection!

Lori,  I don't know about rosy, but I am praying and expecting better!

Corrine, Check out the link to see what your high balance loan limits are.  The pricing about 417K is pretty negligible currently.

David,  Anything I can do to end fence sitting (my current mantra)!!!!  Hey, this was my first video and I just decided to go for it.  With any luck I will improve.  LOL!

Harry, Seems that fence sitting is a popular metaphor today!  LOL!  Heres hoping........

Jeanne,  We are in a situation much like the 8K tax credit "gimme" of last year.  The increase in loan limits was intended to spur the market, there has never been an intent to leave it at the higher amounts.  Make no doubt about it:  That is a train coming down the tracks!! LOL!!

PaffordHomes,  You and I are going to need that link in the coming months!!  :)

Rodney, You are correct, my market is going to be impacted significantly!  Prices have reduced, of course...but average loan amounts are well north of 350K in SoCal.  Ouch!

Paul, I respectively disagree.......you have to remember that "high balances" affect a relatively small amount of the mortgage market. Further, like the 8K tax credit, the government cannot continue to shore up the facts of the marketplace. It is the very action or thought process that the government will save the day that keeps people on the fence. The American consumer, in large part, is choosing to pass on the best financing opporutunity in over forty years (I am referring the housing affordability index). The facts are that the regulations are in place for reduction on the loan limits effective 09/30/11. The facts are also that the Feds have commited to buying MBS (mortgage backed securities) through the second quarter...but that could change as the economy improves. The Republicans have regained much control and there is little interest at the governmental level for continuing the ride on the tax rolls. Not trying to be harsh or argumentative; however, I think we all (agents and MLO's alike) do consumers a disservice by fostering any belief that governmental "pixie dust" is going make everything alright. I have maintained for the past year that we will hear nothing but "wishin', shudda, coulda" in the next year or so. JMHO

Erica, Your situation resembles the majority of the country; which is exactly why I stand by my comment to Paul (above).  I do not anticipate this ruling will be changed.

Christine,  Well I applaud hope, I don't think there is rationale or desire to extend the limits (please understand, my thoughts and comments have nothing to do with my personal beliefs or desires of whether they should stay or go...I am totally detached in my observations).

Chris,  It is important to understand that the rulings are to return to "normal" market standards....it really has little to do with liability or lower property values.  Just like it was unrealistic for people to think the 8K tax credit was going to be repeatedly extended; it is also unrealistic to think the Fed is going to extend buying MBS indefinitely and/or continue to manipulate the housing market.  Again, my humble opin.