FHFA Loan Limits Have Increased for 2018:
As an update to Program Update 17-29, Lenox/WesLend will now be accepting loan submissions for FHA and VA files using 2018 loan limits.
As per Mortgagee Letter 2017-16:
• Forward mortgage limits for calendar year 2018 are effective for case numbers assigned on or after January 1, 2018.
As per Mortgagee Letter 2017-17:
• The 2018 HECM maximum claim amount limits are effective for case numbers assigned on or after January 1, 2018
The corresponding 2018 FHA loan limit for a specific county can be found here, 2018 FHA Loan Limits.
VA’s 2018 Loan Limits are the same as the Federal Housing Finance Agency’s limits – 2018 Loan Limits (Effective January 1, 2018). For purposes of determining the VA guaranty, lenders are instructed to reference only the One-Unit column in the FHFA Table “Fannie Mae and Freddie Max Maximum Loan limits for mortgages acquired in Calendar Year 2018.
Please contact your Manager with any questions.