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Just in time (for a recession?). Fred & Fannie Tighten Lending

FHA was for the lower income class with their issues. When i started selling r.e. it was all conventional. Then during the pres carter financial crisis it turned around and became mostly FHA in this big city.

Then wall street came in with no docs and mixing c paper with a paper loans, but selling it like it was only a paper loans.
I always considered FHA as last resort for lower income class. Few FHA loans in greater Bay Area as few low income class people can afford to buy.
 
The FHA loan limit for the bay area is $1,149,825. Poor peasants
I want to say I recall when the limit was $89,000. But I'd be wrong. It was $81,000± and that was 1996. FNMA was about $100k more. Alaska and a few places were higher.

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