Here’s Washington’s chance to step aside
Last month, both Treasury Secretary Timothy Geithner and HUD Secretary Shaun Donovan said that the government needs to begin to play a smaller role in the housing and mortgage markets. Well, here’s their chance…
The federal loan limits on Fannie Mae, Freddie Mac and FHA-backed loans — currently $729,750 — are set to expire at the end of this year. Nick Timiraos of the Wall Street Journal writes that, when they expire, the limits will fall to around $625,500.
