Are Limits Permanent? - I also keep hearing that the new limits are permanent. What's permanent is the methodology and percentages of the loan amount calculations. Also, thank goodness, the floor and the ceiling will never go down.
Act Now - Send a written announcement to residents of the counties that you do business in that are currently at the $729,750. Include something like: "After 12-31-08, the maximum conforming mortgage loan in your area goes down and it can affect you personally! Act now to avoid higher mortgage rates!!"
(H.R.3221.ENR Sec.1124.Conforming Loan Limits)
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