Fannie Mae Update
Fannie Mae has issued Lender Letter LL-2016-05 to confirm the general and high-cost area loan limits announced by the Federal Housing Finance Agency (FHFA). The base loan limits have increased for the first time since 2006. This represents a 1.7% increase over the 2016 limit. The new loan limit in most of the country will be $424,100 and all but 87 counties (or county equivalents) will see a loan limit increase.
The new limits are effective for whole loans delivered to Fannie Mae and loans in MBS pools with issue dates on or after January 1, 2017. Detailed information and updated resources, including the Loan Limit Look-Up Table, are available on the Loan Limits page.
>> View the announcement here: http://view.exacttarget.com/?qs=10535d343662399cd39febb3b0a182854fed62b52b3b8f7d5b61e76f41c3147e75e1b0b6f28c6197f06d42ce760d4049299a5f4c02736b989cb752f39e4bffdb8956d6dde6a7c0a5
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