The maximum conforming loan limits for mortgages the Federal Housing Administration will insure will increase in 2019, the agency said today. The loan limit in lower-cost areas will be $314,827, or 65 percent of the national conforming loan limit of $484,350. In high-cost areas, the limit will be $726,525, the FHA said. FHA-insured reverse mortgages will be capped at $726,525. Approximately 82 percent of U.S. counties are considered lower-cost areas, with 2.3 percent at the ceiling and the rest somewhere in between.
Bowman calls for ‘system maintenance’ on Fed supervision, rules, applications
The Federal Reserve’s regulations and supervisory process require significant “maintenance” to meet the Fed’s statutory mandate on safe and sound banking, Fed Governor Michelle Bowman said in a major speech at ABA’s Conference for Community Bankers. With a...