conforming: FMNA Conforming loan limits Stay the Same - 11/29/07 02:41 AM
Washington, DC - Office of Federal Housing Enterprise Oversight (OFHEO) has announced that the conforming loan limits for mortgages purchased by Fannie Mae and Freddie Mac will remain the same for 2008.  FNMA and FHLMC Loan Limits: Units   Maximum Loan Amount 1       $ 417,000 2       $ 533,850 3       $ 645,300 4       $ 801,950
The conforming loan limit has remained the same for the third straight year.
Units   Maximum Loan Amount 1       $ 417,000 2       $ 533,850 3       $ 645,300 4       $ 801,950
 
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conforming: 2008 FNMA Loan Limits will remain @ $417,000 - 10/16/07 07:42 AM
2008 FNMA Loan Limits will remain @ $417,000
The Office of Federal Housing Enterprise Oversight (OFHEO) announced today that there would be no increase in the 2008 Conforming Loan Limit.  OFHEO is the regulatory agency overseeing Fannie Mae and Freddie Mac.
That means that the single family maximum loan amount for 2008 will remain at $417,000.
2 units        $533,850
3 units        $645,300
4 units        $801,950
....At least there is no DECLINE in the FNMA conforming loan limit!!!
(4 comments)

conforming: FHA credit policy changes...Remember when FHA was NOT credit driven?!?! - 09/26/07 02:53 AM
Important FHA Credit Policy Changes...Effective October 1, 2007 HUD/FHA establishes the minimum standards for insuring an eligible mortgage application.  These standards are described in several handbooks published by HUD/FHA and are amended from time-to-time by Mortgagee Letters.  The handbooks provide direction to lenders and lenders are expected to exercise both sound judgment and due diligence in the underwriting of loans to be insured by FHA.  Lenders may choose to underwrite FHA applications based upon their risk standards and experience.  Therefore, it is not uncommon that certain flexibilities of the FHA program(s) are not permitted by some lenders.  At this time, National … (20 comments)

 

Kris Krajecki

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