Finance
Which entity sets the conforming loan limits for conventional mortgages annually?
AFHA
BFHFA (Federal Housing Finance Agency)✓ Correct
CHUD
DThe Federal Reserve
Explanation
The Federal Housing Finance Agency (FHFA) annually sets the conforming loan limits for conventional mortgages that Fannie Mae and Freddie Mac can purchase. Loans above these limits are non-conforming jumbo loans.
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