FHA’s Enhanced HECM Limit: Unleash Financial Freedom in 2024! Embark on a journey of financial possibilities as the federally backed reverse mortgage limit rises to an impressive $1,149,825! With ongoing appreciation in home prices nationwide, this rise will broaden access to the FHA-insured HECM program. It provides an opportunity for older homeowners seeking to tap […]
FHFA Conforming Loan Limits Increase to $766,550 in 2024! ✨ We’re thrilled to inform you that the Federal Housing Finance Agency (FHFA) has recently announced a significant development: the baseline conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac is set to increase to $766,550 in 2024. This marks a 5.5% rise […]
In a significant move to address affordable housing challenges and promote generational wealth building, the U.S. Department of Housing and Urban Development, through the Federal Housing Administration (FHA), has announced an expansion in access to mortgage financing for homes with Accessory Dwelling Units (ADUs). This groundbreaking policy shift increases access to quality, affordable housing for […]
In a momentous achievement, Nationwide Mortgage Bankers (NMB) proudly announces that Richard Steinberg, Founder and Chairman, has been honored with the distinguished 2023 HousingWire Vanguard Award. This accolade recognizes his exceptional leadership, innovation, and enduring impact on the housing industry. Visionary Leadership at the Helm of NMB The HousingWire Vanguard Awards commend industry leaders for […]
Fannie Mae expanding Loan-to-Value limits on multi-family properties for purchase and limited cash-out.
Exciting News For Homebuyers! Starting November 18, 2023, Fannie Mae is expanding Loan-to-Value limits on multi-family properties for purchase and limited cash-out. This means increased access to credit and support for affordable rental housing. A key change includes a boost in maximum allowable LTV, CLTV, and HCLTV ratios to 95% for two-to-four-unit, principal residence, purchase, […]
Nationwide Mortgage Bankers is pleased to announce the promotion of Mary O’Sullivan from Executive Vice President of Operations to Chief Operating Officer. Mary O’Sullivan brings more than two decades of experience to her new role. Known for her people-centric approach, Mary is committed to building lasting relationships with both internal teams and external partners. Her […]