Conforming loan limits are expected to increase significantly in 2022, to as much as $1 million in expensive markets.
Fannie Mae and Freddie Mac are government-sponsored entities (GSEs). Because lenders take on less risk when loans can be resold to Fannie Mae and Freddie Mac, lenders are more willing to issue loans to borrowers even if the would-be homeowners don't have perfect credentials. Next year, however, conforming limits could increase dramatically and, in some cases, Fannie and Freddie may actually back loans valued at close to $1 million.
(Bloomberg) -- Valon Technologies Inc., a startup that operates a digital mortgage-servicing platform, raised $43.9 million in equity funding from investors including affiliates of Starwood Capital Group and Freedom Mortgage.Most Read from BloombergWhere Did All the Public Bathrooms Go?What It Means to Design a Space for ‘Care’COP26 Protests: Inflatable Cows, Megaphones and a RainbowThe Rising Pacific Forces a Native Village to Move. Who Will Pay?‘Airbnb Queen’ Says She’s Caught Up in Platform’s