2008-10-21 — housingwire.com
"With the economy languishing and mortgage lending withering, the Mortgage Bankers Association is readying for a lobbying push to increase the conforming loan limit across to board to $625,000. Garry Cipponeri, senior vice president of Chase Home Finance LLC and head of the MBA’s capital markets committee, made remarks about the pending proposal in a private interview with Bloomberg News Monday afternoon."
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Comments:
tvsterling at 20:52 2008-10-22 said:
Not only should the limit NOT be raised to 625K, the FHA should also put an UPPER square footage limit on it's conditions similar to it's current LOWER square footage limit. The FHA specs are the standard for house construction. Half of the problem is this glut of Plywood Palacios, obscene in their waste & useless for a normal single family dwelling. The futurists are predicting that most will be converted into apartments or rooming houses for the new poor (& of course all the hordes of illegal foreign workers). Right, let's make Jumbos into the new standard loans. Typical conservative thinking; restore the past, no thought of moving into the future. Permalinkadd a comment | go to forum thread
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