Fannie, Freddie may cut loan limits, pushing borrowers to jumbos
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Monday, November 4, 2013
In this article from the LA Times - industry analysts say the maximum Fannie-Freddie loan size could drop from the current $417,000 to $400,000 in most parts of the country, and from $625,500 to $600,000 in designated high-cost areas such as coastal California, metropolitan Washington, D.C., New York City and its suburbs, parts of New Jersey, Massachusetts, New Hampshire, Colorado, Idaho, Wyoming and North Carolina. The decreased limits could take effect as early as May.
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