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All Participant Memorandum (APM)
APM 20-20: High Balance Loans
Published Date: 12/31/2020 8:35 AM

Pursuant to the Housing and Economic Recovery Act of 2008 (HERA), the Federal Housing Finance Agency (FHFA) has announced increased conforming loan limits. Accordingly, Ginnie Mae is revising its definition of High Balance Loans as follows. Effective for issuances on or after January 1, 2021, a High Balance Loan is defined as a single-family forward mortgage loan with an original principal balance (minus the amount of any upfront mortgage insurance premium) that exceeds the following limits:

Maximum Loan Amounts (net of any financed MIP or Guaranty Fee)​ ​ ​
​ ​ ​
​Units ​Contiguous 48 States, District of Columbia, American Samoa, and Puerto Rico ​Alaska, Hawaii, Guam, and the U.S. Virgin Islands
1​​ ​$548,250 ​$822,375
​2​ ​$702,000 ​$1,053,000
​3 ​$848,500 ​$1,272,750
​4 ​$1,054,500 ​$1,581,750

Additional information on conforming loan limits for the Commonwealth of the Northern Mariana Islands may be obtained directly from FHFA. High Balance Loans are eligible for Ginnie Mae MBS subject to the restrictions detailed in Ch. 9, Part 2, § B and Ch. 24 Part 2, § A(1) of the Mortgage Backed Securities Guide, HUD Handbook 5500.3, Rev-1 (MBS Guide).

If you have any questions regarding this announcement, please contact your Account Executive in the Office of Issuer and Portfolio Management directly or at (202) 708-1535.

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