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News & Press: Industry News

Fannie Mae Increases Multifamily Loan Limits

Tuesday, February 19, 2019  
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Fannie Mae announced that it is doubling its loan limit for small multifamily mortgages from $3 million to $6 million in an effort to boost affordable housing. For certain high cost areas, the limit was increased by $1 million.

A statement from Fannie Mae indicated that the loan size increase will simplify the definition of a small loan and provide more opportunities for borrowers to realize the benefits of streamlined third-party report, underwriting and asset management requirements.

In addition, specified MSA’s are eligible to receive pricing and underwriting benefits. According to Fannie Mae, those markets in California include Los Angeles, Oxnard, San Diego, San Francisco and San Jose.

California Land Title Association

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