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The Office of Federal Housing Enterprise Oversight (OFHEO) has announced that the conforming loan limit will remain at its current level of $417,000 in 2008. In light of ongoing home-price declines, the agency decided not to raise the maximum amount on mortgages that can be purchased by Fannie Mae and Freddie Mac. The limit was last changed three years ago.

Source: American Banker (11/28/07) P. 3; Sloan, Steven
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  Related Topics: Federal regulations
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