WBK Industry News - Federal Regulatory Developments

Ginnie Mae Revises High Balance Loan Limits

Ginnie Mae recently issued All Participant Memorandum (APM) 21-09, which announced increased mortgage loan amount limits for High Balance Loans.

Ginnie Mae’s revised High Balance Loan definition in APM 21-09 provides that, effective for pools or loan packages submitted on or after January 3, 2022, a High Balance Loan is defined as a single-family forward mortgage loan with an original principal balance (minus the amount of any upfront mortgage insurance premium) that exceeds the following limits for properties in the following locations:

  • Contiguous 48 States, District of Columbia, American Samoa, and Puerto Rico: $647,200 for 1 unit; $828,700 for 2 units; $1,001,650 for 3 units; and $1,244,850 for 4 units.
  • Alaska, Hawaii, Guam, and the U.S. Virgin Islands: $970,800 for 1 unit; $1,243,050 for 2 units; $1,502,475 for 3 units; and $1,867,275 for 4 units.

Additional information regarding Commonwealth of the Northern Mariana Islands conforming loan limits may be obtained directly from FHFA.

Note that the corresponding provision in Ch. 9, Part 2, § B of the Mortgage-Backed Securities Guide, HUD Handbook 5500.3, Rev-1 (MBS Guide), incorporates the revised High Balance Loan definition as described above, except it provides that the new definition is effective for “issuances on or after January 1, 2022.”