OFHEO: Conforming Loans at $417,000 Through 2009

Today, the Office of Federal Housing Enterprise Oversight announced that they will keep the conforming loan limit at $417,000 into 2009 and perhaps beyond. Their full news release is below, and the fine print is here. This is for traditional conforming loans, NOT for the temporary super conforming loan limits that were part of the

Thornburg Is Back, Countrywide Execs Start PennyMac,

Yesterday Thornburg Mortgage announced, in a filing with the SEC, it will allow an investor to acquire up to $300 million worth of stock in the company’s offering of $1 billion of convertible debt. The purchaser would have to provide assurances that the ownership would not jeopardize the company’s REIT qualification. The news is a

FHA News, Jobless Claims Up, FNMA/FHLMC Liquidity

In 1968 Congress established the Government National Mortgage Association, commonly known as Ginnie Mae, as a government-owned corporation within the Department of Housing and Urban Development (HUD). Today, Ginnie Mae securities are the only mortgage-backed securities, primarily comprised of FHA & VA loans, that offer the full faith and credit guaranty of the United States

$200b More Purchasing Power For Fannie Mae, Freddie Mac

The Office of Federal Housing Enterprise Oversight (OFHEO) reduced capital requirements for FNMA and FHLMC from 30 per cent to 20 per cent today, making it possible for the two government-backed mortgage companies to buy up to $200 billion more loans in 2008. This means they could purchase up to $1 trillion in loans for

Conforming Limits Released: Check Yours Here

Below is the official news release from the Office of Federal Housing Enterprise Oversight announcing the new super-conforming loan guidelines that will be in effect until December 31, 2008. Check Loan Limits For Your Area TEMPORARY CONFORMING LOAN LIMITS RELEASED FOR HIGH COST AREAS Washington, DC – The Office of Federal Housing Enterprise Oversight (OFHEO)