General World News

Nonbanks are hiking conforming loan limits

Earlier in the month, PennyMac Financial and United Wholesale Mortgage publicly announced that they are each raising their conforming loan ceilings by 14%, nearly two months ahead of the Federal Housing Finance Agency‘s official decree in November. They’re not the only ones getting a jump on new conforming loan limits.

Rocket Mortgage and Homepoint announced last week that they are also upping their conforming loan limit to $625,000 for a one-unit property.

According to a letter Homepoint sent to its mortgage broker partners yesterday, the new loan limit – a $75,000 increase from the current maximum loan limit, details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com