| Government Affairs |
It's a start. Recently, Federal Housing Finance Agency (FHFA) Director Mel Watt made his first public speech addressing FHFA's strategic plan for Fannie Mae and Freddie Mac (the government sponsored enterprises or GSEs).
In the speech, Watt announced FHFA would step back from a proposed reduction in conforming loan limits which are currently set at $417,000 (though are authorized for up to $625,500 in high-cost areas of the country such as San Mateo County.)
That's a first step in getting the high cost loan limits back up to their traditional 'ceiling" of $729,750
Watt also indicated that FHFA would be publishing a request for input on the guarantee fees (g-fees) and loan level pricing adjustment fees (LLPAs) that are often passed onto borrowers.