Fannie Mae

Fannie Mae released the guidelines for conforming mortgages over $417,000 (called jumbo-conforming). The guidelines can be found here.
Highlights:
Full-documentation only
660+ credit score
Single unit homes only (no duplex, triplex, 4-unit)
45% maximum debt-to-income ratio
No cash-out refinancing
75% LTV maximum for refinances (70% for declining markets–most of Southern California)
90% LTV maximum for purchase - fixed rate (85% for declining markets–most [...]

HUD has now published the new conforming loan limits for 2008. You can lookup them up here. As far as I know, neither Fannie nor Freddie have adjusted their underwriting systems to allow the limits yet. Once they do, it will take a while longer for lenders to offer the new limits to customers. It [...]