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.
CFPB sends Reg X update to OMB for review
The proposed changes began under the Biden Administration as an attempt to simplify how financially distressed homeowners obtain assistance and avoid foreclosure. It’s not yet clear how the final version compares with the original proposal issued in July...
