Conforming Loan Limit Calculation to Follow New Procedures as Result of Snafu in 2003
February 27, 2004
In the wake of surprising accusations that Fannie Mae and Freddie Mac failed to accurately calculate their 2004 loan limits, the Office of Federal Housing Enterprise Oversight announced this week that it was establishing new formal procedures for annually drawing the line that separates the conforming mortgage market from the jumbo mortgage market.