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President's Housing Plan Impacts Credit Unions


The Obama Administration has issued more detailed proposals to help underwater homeowners and address the ongoing difficulties in the housing market.  None of these initiatives is addressed specifically to credit unions, but, as active mortgage lenders and servicers, credit unions will undoubtedly be affected by these programs.

Posted By Halley Hayden read more

Maximum Conforming Loan Limits Remain Unchanged in 2012



The Federal Housing Finance Agency (FHFA) announced the maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2012 will remain at existing levels. There is one exception - Fairfield County, Connecticut, where limits will increase. The maximum conforming loan limits for one-unit properties, which generally have applied to loans originated since October 1, 2011, are $417,000 in most locations, but are as high as $625,000 in certain high-cost areas in the contiguous United States.

Posted By Halley Hayden read more
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