Ginnie Mae has announced revisions to its definition of High Balance Loans, more closely aligning with the increased conforming loan limits recently announced by...

Ginnie Mae has announced revisions to its definition of High Balance Loans, more closely aligning with the increased conforming loan limits recently announced by the Federal Housing Finance Agency (FHFA). Under Ginnie Mae’s All Participants Memorandum (APM) 23-13, effective for pools or loan packages submitted on or after January 1, 2024, a “High Balance Loan” is defined as a single-family forward mortgage loan with an original principal balance (minus the amount of any up-front mortgage insurance premium) that exceeds the following limits: High Balance Loans are eligible for Ginnie Mae mortgage-backed securities (MBS), subject to the restrictions detailed in Chapter 9, Part 2, § B and Ch. 24 Part 2, § A(1) of the Mortgage-Backed Securities Guide...