Ginnie Mae Revises High Balance Loan Limits | Weiner Brodsky Kider PC

Ginnie Mae recently released All Participants Note (APM) 21-09, which announced an increase in mortgage loan amount limits for high-balance loans.

Ginnie Mae’s revised definition of a high balance loan in APM 21-09 states that, in effect for loan groups or loan packages made on or after January 3, 2022, a high balance loan is defined as a single-family deferred mortgage with the original principal balance (min of which the amount of any upfront mortgage insurance premium) exceeds the following limits for properties in the following locations:

• 48 contiguous states, the District of Columbia, American Samoa, and Puerto Rico: $647,200 per unit; $828,700 for two units; $1,001,650 for 3 units; and $1,244,850 for 4 units.
• Alaska, Hawaii, Guam, and the US Virgin Islands: $970.800 per unit; $1,243,050 for two units; $1,502,475 for 3 units; and $1,867,275 for 4 units.

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

Note the corresponding provision in ch. 9, Part 2, § B of the Mortgage-Backed Securities Handbook, HUD Handbook 5500.3, Rev-1 (MBS Guide), includes the revised definition of a high-equilibrium loan as described above, except that it states that the new definition is effective for “issues on or After January 1, 2022.”