I 
110TH CONGRESS 
2D SESSION 
H. R. 5153 
To increase temporarily the conforming loan limits of the Federal National 
Mortgage Association and the Federal Home Loan Mortgage Corporation 
in certain areas, enhance mortgage market liquidity, and for other pur-
poses. 
IN THE HOUSE OF REPRESENTATIVES 
JANUARY 29, 2008 
Mr. KANJORSKI introduced the following bill; which was referred to the 
Committee on Financial Services 
A BILL 
To increase temporarily the conforming loan limits of the 
Federal National Mortgage Association and the Federal 
Home Loan Mortgage Corporation in certain areas, en-
hance mortgage market liquidity, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Conforming Loan 
Limit Temporary Adjustment Act of 2008’’. 
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SEC. 2. TEMPORARY CONFORMING LOAN LIMIT INCREASE 
FOR FANNIE MAE AND FREDDIE MAC. 
(a) INCREASE OF HIGH COST AREAS LIMITS FOR 
HOUSING GSES.—For mortgages originated during the 
period beginning on July 1, 2007, and ending at the end 
of December 31, 2008: 
(1) FANNIE MAE.—With respect to the Federal 
National Mortgage Association, notwithstanding sec-
tion 302(b)(2) of the Federal National Mortgage As-
sociation Charter Act (12 U.S.C. 1717(b)(2)), the 
limitation on the maximum original principal obliga-
tion of a mortgage that may be purchased by the 
Association shall be the higher of— 
(A) the limitation for 2008 determined 
under such section 302(b)(2) for a residence of 
the applicable size; or 
(B) 125 percent of the area median price 
for a residence of the applicable size, but in no 
case to exceed 175 percent of the limitation for 
2008 determined under such section 302(b)(2) 
for a residence of the applicable size. 
(2) FREDDIE MAC.—With respect to the Fed-
eral Home Loan Mortgage Corporation, notwith-
standing section 305(a)(2) of the Federal Home 
Loan 
Mortgage 
Corporation 
Act 
(12 
U.S.C. 
1454(a)(2)), the limitation on the maximum original 
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principal obligation of a mortgage that may be pur-
chased by the Corporation shall be the higher of— 
(A) the limitation determined for 2008 
under such section 305(a)(2) for a residence of 
the applicable size; or 
(B) 125 percent of the area median price 
for a residence of the applicable size, but in no 
case to exceed 175 percent of the limitation de-
termined for 2008 under such section 305(a)(2) 
for a residence of the applicable size. 
(b) DETERMINATION
OF LIMITS.—The areas and 
area median prices used for purposes of the determina-
tions under subsection (a) shall be the areas and area me-
dian prices developed by the Secretary of Housing and 
Urban Development in accordance with subsection (f). 
(c) RULE OF CONSTRUCTION.—A mortgage origi-
nated during the period referred to in subsection (a) that 
is eligible for purchase by the Federal National Mortgage 
Association or the Federal Home Loan Mortgage Corpora-
tion pursuant to this section shall be eligible for such pur-
chase for the duration of the term of the mortgage, not-
withstanding that such purchase occurs after the expira-
tion of such period. 
(d) EFFECT ON HOUSING GOALS.—Notwithstanding 
any other provision of law, mortgages purchased in ac-
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cordance with the increased maximum original principal 
obligation limitations determined pursuant to this section 
shall not be considered in determining performance with 
respect to any of the housing goals established under sec-
tion 1332, 1333, or 1334 of the Housing and Community 
Development Act of 1992 (12 U.S.C. 4562–4), and shall 
not be considered in determining compliance with such 
goals pursuant to section 1336 of such Act (12 U.S.C. 
4566) and regulations, orders, or guidelines issued there-
under. 
(e) SENSE OF CONGRESS.—It is the sense of the Con-
gress that the securitization of mortgages by the Federal 
National Mortgage Association and the Federal Home 
Loan Mortgage Corporation plays an important role in 
providing liquidity to the United States housing markets. 
Therefore, the Congress encourages the Federal National 
Mortgage Association and the Federal Home Loan Mort-
gage Corporation to securitize mortgages acquired under 
the increased conforming loan limits established in this 
section, to the extent that such securitizations can be ef-
fected in a timely and efficient manner that does not im-
pose additional costs for mortgages originated, purchased, 
or securitized under the existing limits or interfere with 
the goal of adding liquidity to the market. 
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(f) PUBLICATION
OF AREA MEDIAN PRICES
AND 
LOAN LIMITS.—The Secretary of Housing and Urban De-
velopment shall publish the median house prices and mort-
gage principal obligation limits, as revised pursuant to this 
section, for all areas as soon as practicable, but in no case 
more than 30 days after the date of the enactment of this 
Act. With respect to existing areas for which the Secretary 
has not established area median prices before such date 
of enactment, the Secretary may rely on existing commer-
cial data in determining area median prices and calcu-
lating such revised principal obligation limits. 
Æ 
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