A message from CAMB Government Affairs Chair Ed Smith, Jr.
regarding the Economic Stimulus bill.
President Bush to sign the Economic Stimulus bill Today!
On Thursday of last week, as CAMB members lobbied the halls of the congressional offices in Washington, D.C., the U.S. Senate and House of Representatives passed a final version of the Economic Stimulus bill that includes provisions to increase the FHA and GSE conforming loan limits. Essentially, the loan limit would be 125 percent of the area median home price, but in no case will exceed 175 percent of the conforming loan limitation for 2008 ($729,750). The bill gives HUD 30 days from enactment to set the loan limit by area. An analysis of how the increase will work for the GSE and FHA loan limit is attached below.
Attached Analysis
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