WASHINGTON, DC – December 17, 2013 – (RealEstateRama) — Congresswoman Carolyn B. Maloney (NY-12) today criticized a Federal Housing Finance Agency (FHFA) proposal that could result in reduced access to mortgages for middle-class families. Maloney, the top Democrat on the House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises, says that reductions in conforming loan limits being considered by FHFA would cut thousands of families out of the housing market by forcing them to seek private mortgages, which typically require credit scores above 760 and average down payments of nearly 34 percent
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