The president of the Mortgage Bankers Association said he was pleased that the Department of Housing and Urban Development will implement immediate changes voted by Congress to raise Federal Housing Administration-insured loan limits and to end limitations on financing closing costs.

Angelo R. Mozilo, who also is president and chief executive officer of Countrywide Funding Corp., Pasadena, Calif., predicted the changes would help borrowers and the FHA. which would enjoy increased volume and insurance premiums.

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