All of the Following Are True of Maximum and Minimum

question 6

Multiple Choice

All of the following are true of maximum and minimum limits for conventional loans EXCEPT:

• A) Fannie Mae/Freddie Mace set new limits each year for their conventional/conforming loans
• B) if a prospective loan exceeds an institution's in-house limit, other lenders may join in a participation loan
• C) setting minimum limits for loan amounts is a possible violation of the Fair Housing Act
• D) all states set limits on the maximum amount for residential loans within the state

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