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Congress Passes Resolution to Extend Higher GSE Loan Limits through 2010

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The resolution would extend the present conventional loan limits for Fannie and Freddie through the 2010 calendar year at 125 percent of local median home sales prices, up to a maximum of $729,750 in high-cost areas.
The floor for FHA is $271,050; the floor for Fannie Mae and Freddie Mac conforming loan limits is $417,000.

The resolution now goes to President Obama, and he is expected to sign it today or Saturday to avoid a government shutdown….(read more)

Written by Adam Quinones on October 30th, 2009 with comments disabled.
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