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FHFA Eyes $400K Limit for Mortgages

marketwatch.com | December 18, 2013

By Ruth Mantell

WASHINGTON (MarketWatch) -- With officials continuing to work on housing-finance reform, federal regulators asked Monday for public comments on a proposal that would cut the size of mortgages that can be purchased by Fannie Mae FNMA +5.88% and Freddie Mac FMCC +5.06% . The Federal Housing Finance Agency’s proposal would cut the conforming-loan limit for single-unit properties by 4%, translating to a new ceiling of about $400,000 in most of the U.S., while higher-cost areas would see a new limit of $600,000. The goal is to contract the government's presence in housing finance, but critics have been concerned about moves that they say could undermine the market's recovery. FHFA wants the public to comment on the schedule for loan-limit cuts, and the appropriate amount of notice. Proposed changes would not impact loans originated before Oct. 1, 2014. Comments are due by March 20.


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CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

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