Centered on previous congressional testimony, newest family purchase mortgages try protected because of the FHA and you can securitized by Ginnie Mae; many mortgage loans bought has just because of the Fannie mae and Freddie Mac computer keeps refinanced existing mortgages.

S. 1217 , the fresh Construction Finance Change and you will Taxpayer Protection Work of 2013, manage slow down the restrict high-rates restriction out of 150% of the national restrict ($625,500) to 130% of your national restriction ($542,100). H.R. 2767 , the fresh new Protecting American Taxpayers and you may Residents (PATH) Operate away from 2013, you may reduce the highest-cost maximum in order to $525,five hundred. [Read more…]