Temporary Conforming Loan Limits Released For High Cost Areas

[KenRossman]

http://www.ofheo.gov/media/hpi/AREA_LIST.pdf

https://entp.HUD.gov/idapp/html/hicostlook.cfm

 

[Lloyd Bonafide]

Jumbo Conforming Loan Guidelines

http://calculatedrisk.blogspot.com/2008/03/jumbo-conforming-loan-guidelines.html

12. A full appraisal with interior inspection is required on all loans; if the property value is more than $1 million, a field review appraisal is also required.

https://www.efanniemae.com/sf/mortgageproducts/index.jsp#jumbo

• Appraisal with interior and exterior inspection is required (Form 1004 or 1073, as applicable)
• Field Review (Form 2000) required for properties with value of $1,000,000 or greater if the LTV/CLTV is ≥ 75%
• Condominium requirements: two comparables must be from projects outside of the subject
• Fannie Mae’s maximum financing in declining markets policy applies for LTVs > 75%
• Lenders must use appraisers experienced with the types of properties eligible for jumbo-conforming financing

 

[Lloyd Bonafide]

Indymac Reaches Agreement to Deliver Jumbo Loans to Fannie Mae

http://www.thetruthaboutmortgage.com/indymac-to-deliver-conforming-jumbo-loans-to-fannie-mae/

Indymac Bancorp announced late last night on its company blog that it struck a deal last Friday to deliver conforming jumbo loans to mortgage financier Fannie Mae.

This is good news for the jumbo loan business. Now if the jumbo rates could just inch down a little closer to conforming loan rates, we'd all be better off.