FHFA Seeking Comment on Proposed Cut to Conforming Loan Limits

first_imgFHFA Seeking Comment on Proposed Cut to Conforming Loan Limits in Secondary Market Share December 17, 2013 476 Views center_img The “”Federal Housing Finance Agency””:http://www.fhfa.gov/Default.aspx (FHFA) says it wants input on a plan to lower the ceiling for loans eligible for purchase by “”Fannie Mae””:http://www.fanniemae.com/portal/index.html and “”Freddie Mac””:http://www.freddiemac.com/.[IMAGE]Under FHFA’s “”proposed plan””:http://www.fhfa.gov/webfiles/25884/LoanPurchaseLimitsInputFINALpkg121613.pdf, the $417,000 maximum limit for single-family homes in most areas around the country would be lowered to $400,000, a reduction of about 4 percent. Areas with higher limits would see a similar cut, with the $625,500 maximum dropping to $600,000.As FHFA said in its announcement, the proposed decrease “”furthers the goal of contracting the market presence of [COLUMN_BREAK]Fannie Mae and Freddie Mac gradually over time,””–an objective laid out in the agency’s Strategic Plan for Enterprise Conservatorships.””The loan purchase limits, which FHFA would set under its authority as conservator of Fannie Mae and Freddie Mac, would modestly reduce Fannie Mae’s and Freddie Mac’s business at the high end of the market, invite private capital to re-enter the market, and limit taxpayer exposure to losses,”” the release goes on to say.Among the agency’s concerns are whether an advance notice of six months is adequate, whether it is preferable to work with a multi-year schedule of decreases, and when any future loan limit reductions should be enacted.While there has been little public reaction from the industry regarding the proposal, history would suggest many housing groups will oppose reduced limits, with the “”National Association of Realtors””:http://www.realtor.org/news-releases/2013/11/realtors-applaud-demarco-for-heeding-warnings-leaving-gse-loan-limits-as-is recently applauding an “”announcement””:https://themreport.com/articles/fhfa-leaves-conforming-loan-limits-untouched-2013-12-03 that conforming loan limits will stay as they are for the time being.Nevertheless, FHFA’s announcement includes an assurance that no final decision on purchase limits will be made until comments are reviewed and that the discussed changes will not affect loans originated before October 1, 2014. Agents & Brokers Attorneys & Title Companies Fannie Mae FHFA Freddie Mac Investors Lenders & Servicers Service Providers 2013-12-17 Tory Barringerlast_img read more

June 29 2000 A historic moment for Arcosanti in t

first_imgJune 29, 2000A historic moment for Arcosanti in the Paradoxroom as Ivan and Jeff send the first file over our new Arcosanti computernetwork. Congratulations to the folks who made the network a reality. Specialthanks goes to Lou Dallara who helped Jeff and Ivan with the network during lastweekend’s Alumni Reunion. Photo by: DoctressNeutopialast_img

Viasat has acquired TV rights to the 2014 Olympic

first_imgViasat has acquired TV rights to the 2014 Olympic Winter Games and the 2016 Olympic Games for the Baltics.The Modern Times Group-backed channel operator will have ‘first pick’ for each Baltic country to show one discipline from each of Sochi 2014 and Rio 2016 exclusively on its commercial free-TV channels in each of the Baltic countries. Viasat also has exclusive pay TV and online rights to both Games in the Baltics. MTG brokered the deal through rights agency Sportfive International.Hans-Holger Albrecht, president and CEO of MTG, commented: “This is a major step for us and follows our acquisition of the exclusive Swedish broadcasting rights to the 2014 and 2016 Games last year. Our range of channels and services across multiple distribution platforms will ensure that the Games get more coverage than ever before in the Baltics – this is the first time in Olympic history that viewers will be able to see live TV coverage of all events on a pay TV platform.”last_img read more