FHFA announces 2016 conforming loan limits

FHFA announces 2016 conforming loan limits

Much of U.S. left unchanged; limits increase in 39 ‘high-cost’ counties

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Illinois city aims to keep vacant property ordinance alive

A similar ordinance faced scrutiny in Chicago

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According to Evanston Now, a publication out of Evanston, Ill., the Illinois city is awaiting the aftermath of the Federal Housing Finance Agency’s recent lawsuit against Chicago. In the suit, the FHFA pushed to prevent Chicago from enforcing a vacant property ordinance when a GSE-backed loan is involved. After FHFA obtained a favorable ruling, Evanston is left to wonder about its own ordinance when a Fannie or Freddie loan is involved:

“The goal of our program essentially is to make sure any vacant buildings in the city are properly maintained,” said Carl Caneva, assistant director of Evanston’s Health Department.

“As of right now that does not affect how we act or how our ordinance is in effect,” Caneva said. “We are a home rule city and we have our own ordinances.”

Source: Evanston Now
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