Wow that headline could mena a lot of things.  In this case just a quick update for those of us doing loans in Sylmar, Van Nuys, California and the entire country.

HUD has 30 days from the day the President signed the package into law to identify the impacted Metropolitan Statistical Areas (MSA's), so it may be sometime in mid-March before all lenders receive the official pricing notification. At this point anything else is pure speculation. Although several mortgage lenders have promoted lists of what they believe the new limits will be, these are only estimates because HUD has yet to determine the higher loan limits. HUD will determine the new loan limits based on the median area sales prices - but which ones? 2007? The fourth quarter of 2007? The third quarter? Median area sales prices may be dramatically different throughout the year, so the timeframe used by HUD to determine the higher loan limits is very important.