WASHINGTON -- The House Banking Committee late Wednesday approved changes in the maximum size of single-family mortgages that may be insured by the Federal Housing Administration.
The measure sets the ceiling at $101,750 in most areas of the country, and $172,975 in high-cost areas. The change in the high-cost limit has been particularly controversial, and the committee approval was a major hurdle. The bill must still clear the Senate Banking Committee and the full House and Senate.