Advice, Community & Common Sense FHA Limits Released, Fannie Mae Plans Announced! March 7th, 2008 5:02 PM This information is from the HUD Website's Press Release dated March 6, 2008.  This is first section is the FHA Limit Increase announcement, NOT the FANNIE/FREDDIE Official info, BUT this announcement does SUGGEST that the County List of limits to be reference by the GSEs exists.  Meanwhile, here's a link to the FHA/HUD Press Release: http://www.hud.gov/news/release.cfm?content=pr08-030.cfm      FANNIE MAE's Statement is also UP on their site -  Clik here for full Press Release.  Fannie Mae has set APRIL 1, 2008 as a Target Date to have their loan limit reference tools available to LENDERS and BANKS.  Each Lender or Bank's own I.T. capabilities will then determine how fast each lender can adapt and implement these new limits to the Consumers via the broker and direct channels.   Following is the KEY TEXT from Thursday's Fannie Mae Statement: "We will assist our lender customers with implementation by providing reference materials including an online loan limit reference tool and guidance on our loan limits based on a property's geography, both of which are expected to be available on April 1, 2008. The company is working closely with its regulators, OFHEO and HUD, in implementing procedures to address the temporary increase in the prevailing conventional loan limit. We continue to support the increase as a constructive effort to help address the ongoing credit crunch and believe it is in keeping with our core mission to provide liquidity, stability and affordability to the mortgage markets." Posted by Rick Geary on March 7th, 2008 5:02 PMPost a Comment (0) Subscribe to this blog * Name: * Email Address: URL: Comment: Type the characters you see in this picture, click "Submit" when finished.   This helps us prevent automated programs from posting comments and sending spam. * Name: * Email Address: Address: City: State: Zip:   This helps us prevent automated programs from creating bogus contacts and adding them to your contacts database.

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