FHFA Holds Fannie, Freddie Loan Limits Steady For Now

Law360, New York (November 26, 2013, 3:38 PM EST) -- The Federal Housing Finance Agency said Tuesday it will not reduce the size of mortgages that Fannie Mae and Freddie Mac can guarantee for at least the first half of 2014, amid protests from housing industry groups and lawmakers representing areas with costly housing.

The FHFA said Fannie and Freddie will continue to be able to purchase mortgages as large as $417,000, or more in certain areas with high-cost housing. Mortgage and real estate industry groups and lawmakers have bristled at an announcement from acting FHFA Director Edward DeMarco that he intended to lower the so-called conforming loan limit in August...

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