FHFA to Review Loan Limits Again-Update

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Mortgage and Lending with Franklin Advantage Inc. NMLS Lic. # 343946

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FHFA to Review Loan Limits Again-Update

The Federal Housing Finance Agency announced further steps today into evaluating whether to lower loan limits on loans sold or guaranteed by the GSEs ( Fannie Mae and Freddie Mac ).  Just recently, they had announced a decision to postpone a mandate to lower these limits.

The proposal once again comtemplates the reduction of the Conforming Loan Limit from            $ 417,000 in most areas to $ 400,000.  This represents a proposed reduction of approximately 4 per cent from current levels.  While this reduction might not hurt some areas, many high cost areas of the Country could be adversely affected by this change.

The FHFA once again is giving the public an opportunity to voice it's opinion.  Those interested can submit their comments directly to the FHFA.  The deadline is March 20, 1014.

To review the full article from Mortgage News Daily, please follow this link:  FHFA Invites Comments on Maximum GSE Purchase Limits

To review the formal announcement by the FHFA, please follow this link:

http://www.fhfa.gov/webfiles/25884/LoanPurchaseLimitsInputFINALpkg121613.pdfTo submit a comment directly to the FHFA, please submit your response

To submit a response to the FHFA by email use this email address:  loanlimitinput@FHFA.gov

While we are all busy attempting to transact business, input from those of us in the industry is important to reign in the effects of over regulation by our Government.  Let your voices be heard, and spread this information if you so desire.

Image Courtesy of Master Isolated Images/FreeDigitalPhotos.net

 

Merry Christmas

 

Wayne L. Brown

Mortgage Banker

SecurityNational Mortgage Company

Individual NMLS # 343946

Company NMLS # 3116

Direct:  858-997-6300

Email:  wayne.brown@securitynational.com

Website:  Wayne Brown

 

Posted by

 

Wayne L. Brown, NMLS # 343946
Licensed Mortgage Specialist
Franklin Advantage, Inc.
Direct: 858-997-6300
Email: Wayne@SanDiegoMtgPro.com
Website: 
www.SanDiegoMtgPro.com

Online Application:

https://www.blink.mortgage/app/signup/p/franklinadvantageincc/waynebrown

 

 

L/O CA DRE LIC. # 00906571

Corp. NMLS # 285786

CORP CA DRE LIC. # 01837286

 

Equal Housing Lender

 

About Wayne Brown

 

Wayne is a Licensed Mortgage Banker, and is based in San Diego.  With over 35 years in commercial and mortgage banking, he serves all of California and has closed more than 5,600 loans in his career.

 

He specializes in Conventional, FHA, VA, and Reverse Mortgages for residential lending purposes.  Both he and his company always strive to exceed each client's expectations through knowledgeable, ethical, and transparent representation to service their financial needs. 

 

Contact Wayne for a Free and Confidential mortgage analysis and pre-approval without obligation, or to simply get answers to your mortgage questions.  Wayne can be reached directly at 858-997-6300.

Equal Housing Lender                     

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