Finley is training a new MLO on conforming loan limits. Which statement is accurate?
Correct Answer
B) Classify loans above the limit as nonconforming or jumbo
FHFA conforming loan limits define maximum principal amounts for Fannie Mae and Freddie Mac acquisition. The best answer is "Classify loans above the limit as nonconforming or jumbo".
Why This Is the Correct Answer
FHFA conforming loan limits define maximum principal amounts for Fannie Mae and Freddie Mac acquisition. The best answer is "Classify loans above the limit as nonconforming or jumbo".
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