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Reminder: Temporary High-cost Area Loan Limits Set to Expire September 30

September 22, 2011

Sell & Deliver 

We are reminding Seller/Servicers that the temporary maximum loan limits for mortgages secured by properties in designated high-cost areas are expiring on September 30, 2011. The expiration of the temporary maximum loan limits will impact the sale of super conforming mortgages to Freddie Mac. 

Review our August 16, 2011, Single-Family Seller/Servicer Guide (Guide) Bulletin 2011-15 for details about the expiring temporary loan limits to help you manage your pipeline as needed, and to ensure you are delivering mortgages that meet our requirements.

Loan Prospector® has been updated to reflect the lower loan limits determined according to the Housing and Economic Recovery Act of 2008, and now issues a purchase restriction feedback message for new submissions and resubmissions that exceed the 2011 loan limits. The 2011 maximum allowable limit for a 1-unit property in the highest cost counties is $625,500, with higher limits for 2-to 4-unit properties and mortgages secured by properties in AK, HI GU and the U.S. Virgin Islands.

Sellers should disregard the purchase restriction feedback message on loans with note dates on or before September 30, 2011 and refer to the Federal Housing Finance Agency (FHFA) loan limits.

Get More Information

• Review Guide Bulletin 2011-15.
• Visit our Loan Limits web page for details on the lower loan limits for super conforming mortgages that apply through December 31, 2011.
• View the 2011 loan limits in designated high-cost areas as published by FHFA.