Senate Committee OK’s Stimulus Package

Inman News (01/31/08)
Unlike the economic stimulus package passed by the House, the version approved by the Senate Finance Committee does not include provisions that would boost the limit of mortgages Fannie Mae, Freddie Mac and the Federal Housing Administration (FHA) can purchase or guarantee. Under the House bill, the government-sponsored enterprises can buy or guarantee loans up to 125 percent of the median price in high-cost markets, provided that they do not exceed $729,750. The new limits would be in place only until year’s end.