Policymakers May Restore Conforming Loan Limits To 2008 Levels as Jumbo Market Remains Frozen
January 15, 2009
Support seems to be growing in Congress and the incoming Obama administration to return the maximum loan limit for mortgages in high-cost markets back to the 2008 level of $729,750, probably through a provision in a forthcoming second stimulus legislative package still being debated in the legislative and executive branches. “We got the approval from the Obama administration” for...