Flexing its regulatory muscles, the Office of Federal Housing Enterprise Oversight this week publicly slapped Fannie Mae and Freddie Mac for allegedly miscalculating their 2004 mortgage purchase loan limits. OFHEO charged that the two GSEs intentionally ignored requests by the Federal Housing Finance Board to incorporate a methodology change adjustment factor in setting this year’s loan limits. The result of the omission was to inflate the so-called conforming loan limit by $2,300.