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, 2020, 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)
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Units
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Contiguous 48 States, District of
Columbia, American Samoa, and Puerto Rico
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Alaska, Hawaii, Guam, and the U.S.
Virgin Islands
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1
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$510,400
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$765,600
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2
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$653,550
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$980,325
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3
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$789,950
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$1,184,925
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4
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$981,700
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$1,472,550
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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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