Freddie’s ‘10 loan limits; News from SunTrust, TBI, AgFirst, CMBA, Flagstar, USBHM

November 13th, 2009 · No Comments

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I regard any day that my 15-yr old daughter doesn’t call me “annoying” as a missed opportunity, a waste. Yesterday, for example, I told her that I was tired of hearing Taylor Swift on the radio every time I turned it on. “Dad, stop being annoying.” Glare. (I used to like listening to Taylor, but enough is enough, and besides, Cat Stevens is going on tour.)

No doubt the folks at Freddie Mac were tired of hearing people ask them about high-cost loan limits, and Thursday they released them. “Today, we are announcing that our base conforming loan limits will be maintained at their current 2009 levels for 2010, with the maximum loan limit for a 1-unit single-family property remaining at $417,000. The temporary high-cost loan limits for properties located in designated high-cost areas will remain unchanged for 2010 as well…the loan limits in designated high-cost areas are the higher of the temporary limits established by the Economic Stimulus Act of 2008 (maximum of $729,750 for 1-unit single-family properties in the contiguous United States) and the permanent limits established by the Housing and Economic Recovery Act of 2008 (maximum of $625,500 for 1-unit single-family properties in the contiguous United States).” If there is any confusion about Freddie’s loan amounts, one can visit http://www.fhfa.gov/Default.aspx?Page=185 or http://www.freddiemac.com/sell/selbultn/limit.htm.

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Tags: Commentary · Mortgage Market · Rob Chrisman

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