Conforming Loan Size Limit

The “conforming loan size limit for a single-family dwelling established by the federal national mortgage association,” referred to in Section 58-21A-3 (J) NMSA 1978, is the maximum original principal obligation set forth in, and from time to time adjusted, according to the provisions 12.15.3 NMAC 2 of 12 U.S.C. Section 1454(a)(2), applicable to first mortgages. “The federal national mortgage association” refers to fannie mae, the corporation initially organized pursuant to 12 USC 1716(b).