Fannie and Freddie maximum mortgage size will be cut

The Federal Housing Finance Agency said it plans to scale back the maximum size of home mortgages that Fannie Mae and Freddie Mac are allowed to back, something it can do without congressional approval. "FHFA has been analyzing approaches for reducing Fannie Mae and Freddie Mac loan limits across the country, and any such change would be announced with adequate advance notice for implementation on Jan. 1," the agency said.

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Los Angeles Times (tiered subscription model) · Housing Wire

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