The GSE finally approves to raise conforming loan limits by the end of this week.

This morning, the Director of the Federal Government Sponsored Enterprise, Jame B. Lockhard, finally agreed to allow FannieMae and FreddieMac to set the Conforming Loan Limits higher than the current $417,000.  Unfortunately, it's taken 18 months of huges sacrafices for the real estate and mortgage industry to get to the brink of total disater.

Why it takes so long for these people to make a decision is beyond me.  It's very frustrating for homeowners, who are trying to buy or refinance.  History teaches us valuable lessons, I not sure if politicians, short term economist, and the news media ever stop to rationalize the long term affects on their opinions, that affect our daily lives.

Carlos Arvizu Sr.

Prudential California Realty

TheMulhearn Group

562-755-3856

 
Posted by Carlos Arvizu on 02/27/2008 11:42 AM   Comments (1)   , , ,  

1 Comments on The GSE finally approves to raise conforming loan limits by the end of this week.

Your post got me to thinking about why it has taken so long for the government to react to this crises?  Be it raising the loan limits or putting together a program to help people facing foreclosure out, they haven't seemed to be in any big hurry. 

Except when it came to cutting the discount rate...which I don't know about you, but that really hasn't trickled down to me yet!

 

Bob Mitchell

ValueList Real Estate Services, Inc. 

02/27/2008 11:47 AM by ValueList Real Estate Services, Inc.

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Real Estate Brokerage: Carlos R. Arvizu Sr. with Prudential California Realty
Carlos Arvizu
Downey, CA
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Carlos R. Arvizu Sr. with Prudential California Realty

Office Phone: (562) 205-1250 Ext.: 222
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