There are two types of conforming loans, conforming and high balance conforming. The vast majority of residential mortgages issued today are conforming loans and so-called because they conform to underwriting guidelines established by Fannie Mae and Freddie Mac. This is important to the housing industry because approving a loan using either Fannie or Freddie’s standards allows a lender to sell the loan into the secondary market. A mortgage company operates with a line of credit. […] Read more »
