Posted To: Pipeline Press

While headlines move interest rates and countries are shutting their borders again, our industry awaits the official 2022 conforming loan limits after the FHFA’s HPI data is reported tomorrow. We’re reminded that Freddie and Fannie (and Ginnie for that matter) are names of companies that were turned into acronyms which then became nicknames. Residential lenders speak their own language. ( One must be careful about language! ) The mortgage industry has enough acronyms to fill a mail sack. Are you ready for the “Zone Improvement Plan?” No worries: it was officially rolled out in 1963 as the ZIP Code. (The extra four digits, which few humans actually write, came out in 1983.) When you’re sending those Christmas cards and presents, know that the first three digits…(read more)

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Source: Mortgage News Daily