Fannie Mae-No Politics (FNMA)

[Phisherman]

GSE regulator to set conforming loan limits by Nov 7
10/17 03:32 PM
WASHINGTON, Oct 17 (Reuters) - The regulator of housing finance firms Fannie Mae (FNM:$0.97,00$-0.02,00-2.02%) and Freddie Mac (FRE:$1.12,00$-0.04,00-3.45%) said on Friday it would announce by Nov. 7 the 2009 limits on the maximum loan size of mortgages the agencies can buy.
Under the housing bill passed in July, the Federal Housing Finance Agency was directed to set conforming loan limits each year for the nation as a whole as well as for high-cost areas.
In high-cost areas, Fannie and Freddie will be permitted to purchase mortgages valued at 115 percent of the local median prices, up to a maximum of 150 percent of the national limit. That means if the national limit remains at $417,000 next year, the limit in high-cost areas would be $625,500. ([e-mail]; [phone]; Reuters Messaging: [e-mail]))