While You Weren’t Looking: FHA-Insured Jumbos on the Move

Under the Economic Stimulus Act of 2008, The Federal Housing Administration received a huge shot in the arm when it saw its lending limits boosted, along with those of Fannie Mae and Freddie Mac. All three are temporarily authorized to purchase mortgages up to $729,500 in certain high cost areas — and while activity thus far has been slow, FHA jumbos have clearly been the first to market as borrowers have flocked to the revitalized government-sponsored lending program.