FHA issued a correction to Mortgagee Letter 2016-20 regarding the 2017 nationwide forward mortgage limits. Mortgagee Letter 2016-20 referenced an incorrect limit ceiling for Alaska, Hawaii, Guam, and the Virgin Islands, which are identified as “special exception areas” due to higher construction costs in these areas. While Mortgagee Letter 2016-20 referenced an incorrect limit ceiling for special exception areas, there are no changes to the forward mortgage limits in these, or any other jurisdiction.
Freddie Mac
Freddie Mac Updates Area Median Income Limits
Freddie Mac issued Bulletin 2024-C (Bulletin, announcing updated area median income (AMI) limits. For mortgages submitted to Loan Product Advisor (LPA), LPA will be updated