Talk about lowering the maximum loan amounts for Fannie Mae and Freddie Mac

by Ryan Smith | Oct 11, 2013

"A bipartisan group of 66 members of the House of Representatives has signed a letter to the head of the Federal Housing Finance Agency questioning the agency’s ability to lower maximum loan amounts for Fannie Mae and Freddie Mac.

The maximum limit for loans backed by Fannie and Freddie is currently $417,000 in much of the country, but ranges up to $625,500 in more expensive areas. FHFA announced last month that it was considering a reduction in the size of the loans that could be backed by the mortgage giants, which were placed under the agency’s conservatorship in 2008 after nearly collapsing in the financial meltdown."

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