WASHINGTON - Two key members of the House Banking Committee are threatening congressional action if Freddie Mac does not reverse its decision to raise its individual-loan limit to $207,000 for 1996.

The arm-twisting came in the form of a letter to Freddie Mac's chairman, Leland Brendsel, from Rep. Richard H. Baker, R-La., chairman of the subcommittee on government-sponsored enterprises, and Congressman Rick Lazio, R-N.Y., chairman of the subcommittee on housing.

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