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Gerald’s Article Insights: Congress Urges Loan Limits Stay Put

This letter sent by 13 Senators, one of whom is my Senator from New Jersey is a welcome sign that at least some of our representatives in Congress are paying attention to something other than raising money to get re-elected. While encouraging private growth in the mortgage market is an admirable goal, as the saying goes: the road to hell is paved with good intentions. Lowering the Freddie Mac and Fannie Mae loan limits may turn out to be a dangerous experiment that we can ill afford right now in the middle of an encouraging yet fragile real estate recovery.

-Gerald

 

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