HUD released Mortgagee Letter 2011-39 and corresponding attachments explaining that the new loan limits are in effect. The limits actually went into effect immediately but many lenders were hesitant to use them without the ML. Now that it’s out this should end concerns we’ve been hearing from members about lenders refusing to use the new limits.
For areas that believe their loan limit is too low they can appeal to HUD but all appeals must be submitted no later than December 22, 2011. You can find local limits at
https://entp.hud.gov/idapp/html/hicostlook.cfm.
Attachment one includes all areas that have the maximum $729,750 loan limit. Attachment two is a list of areas between the floor ($271,050) and ceiling ($729,750).
Mortgagee Letter 2011-39
Attachment 1
Attachment 2