NEW CONFORMING LOAN LIMITS

In response to rising home prices, the Federal Housing Finance Agency announced that it is increasing the conforming loan limits for Fannie and Freddie mortgages in 2019. Estimates showed that home prices increased 6.9% on average between the third quarters of 2017 and 2018. The conforming loan limit for one-unit single-family mortgage amounts will rise from this year’s total of $453,100 to $484,350 for 2019. Limits for multi-unit mortgages will also be increased.

MMS will accept conventional registrations and rate locks up to the 2019 limits with an expiration date after January 1. Any loan amounts higher than the 2018 limits, but within the 2019 limits may be delivered to MMS for purchase after January 1, 2019.

  • In today’s mortgage market, products are just products. Choosing the right partner really comes down to trust. Members Mortgage Services is superb at delivering on the big things, and even better at delivering the little, unexpected ones.

    Angie M. President Emporia State Federal Credit Union

  • Our loan portfolio grew 433% in the first six months of our MMS relationship. I would never have been able to handle this significant increase in volume had it not been for the entire MMS team as well as the technology they offer. With MMS, Archer Credit Union is finally able to be a competitive force in mortgage lending in our community.

    Sarah C. Senior Mortgage Loan Officer Archer Credit Union

  • By refocusing our mortgage efforts on origination, Credit Union of America has gone from being a minor player in mortgage lending to the #1 lender in the Wichita market. Partnering with MMS was the key to this success.

    Eileen P. SVP/Chief Operations Officer Credit Union of America