CY 2022 Oregon County Conforming Loan Limits and FHA Loan Limits Published.

On Tuesday FHFA published their conforming loan limits used by Fannie Mae and Freddie Mac (The GSE's) and FHA published their loan limits for CY 2022. 

The 2 page PDF table I created HERE and embedded below shows loan limits for CY 2022 and CY 2021 and the differences as well as median home prices used by FHA in setting its limits. 

For FHFA/GSE's/Fannie Mae/Freddie Mac the increase for Oregon counties is a simple 18%/$98,950 increase to $647,200.

For FHA loan limits increases in median home prices are factored in the process for high cost areas and  can impact the rate of increase. 

For example, in the Portland metro the increase in median sales price was 15.6%, below the 18% GSE increase.  This produced a $70,000 increase to $598,000 instead of a higher amount if 18% had been used. 

2022 Observations

• The Portland Metro FHA limit was 6% below the GSE limit in 2021; in 2022 it will be 8% below.  
• Hood River county has a higher FHA loan limit than the Portland metro area, $599,150 vs $598,000. The Hood River county FHA increase is 25.5%/$129,100 vs. 15.6%/$70,000 in the Portland metro area. The median sales price in Hood River county is $521,000 vs $520,000 for the Portland metro area. 
• Deschutes county has a FHA limit increase of 23.8%/$109,250 to $599,150 
• Harney county saw no increase in its median sales price, but an increase of 18% in its FHA limit to $420,480.
• Grant county's median sales price went up by 1/3rd/$40,000 from $120,000 to $160,00. It's FHA loan limit went up 18%/$64,218 to $420,680.
• There are a total of 22 counties where the percentage increase in FHA limits was greater than the percentage increase in median sales price. For GSE loan limits, there were 29 counties where the percentage increase in GSE limits was greater than the percentage increase in median sales price.

FHA's mortgage limits can be accessed HERE, and FHFA conforming limits HERE.

FHA loan limits for Home Equity Conversion Mortgages (HECM) have a uniform national limit for CY 2022 of $970,800, up 18%/$148,425 from CY 2021. 

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Originally created and posted on the Oregon Housing Blog 

Centering GSE 2020 Oregon Loan Acquisitions on Minority Borrowers and Co-Borrowers.

In my most recent post this week I included a link to a new Excel workbook I created that included loan level detail for 163,000 GSE (Fannie Mae and Freddie Mac] loan acquisitions in Oregon in 2020.

I have now added 11 new worksheets to the GSE Excel file I created earlier HERE . The file is slightly larger at 135 MB, but the link and file name remain the same.

These worksheets focus exclusively on minority loans acquired by the GSE‘s in Oregon in 2020.

First, there is a two page summary of loans acquired for borrower or co-borrowers in four minority racial categories and for Hispanic borrowers or co-borrowers. That PDF file is HERE and the summary section is pasted below.

Then there are five pivot tables and five related data worksheets for Hispanic, American Indian or Alaska Native, Asian, Black, and Native Hawaiian Islander or other Pacific Islander borrower or co-borrowers.

Share of  Oregon GSE Loans: Four Minority Racial Categories and Hispanics 

The data shows that 5.9%/13,358 of all 163,089 loan acquisitions were for borrower or co-borrowers in 4 racial minority categories and 8.2%%/9,558 were for Hispanic borrower or co-borrowers.

For (43,640) home purchase loans those shares were 9.4%/4,088 (four minority racial categories) and 7.6%./3,324 (Hispanics).

And for (18,884) first time homebuyer loans those shares were 11.3%/2,136  (four minority racial categories)  and 9.9%/1,869 (Hispanics).

Many GSE Minority Loans Acquired Were FHA Insured Loans

84% of all loans reported by the GSE‘s for four minority racial categories were FHA insured loans. FHA insured loans were 80% of all Hispanic loans acquired by the GSE’s.

That FHA share drops to about 48% for home purchase loans for the four minority racial categories and 44% for Hispanic home purchase loans. 

And, perhaps because of rules that may have restricted how government guaranteed loans can be counted toward GSE goals, the percentage of FHA insured loans for first time homebuyer loans acquired for the four minority racial categories, and for Hispanics, was reported as ZERO.

Note that the GSE FHA loan counts are NOT all 2020 Oregon FHA loans made to borrowers and Co-borrowers in the four racial categories or to Hispanics, just those loans that were FHA insured and then acquired by GSE’s.

Originally created and posted on the Oregon Housing Blog.

Update: 2020 GSE Oregon Loan Purchases: $49 Billion, 163,000 Loans. First Time Homebuyers? $6 Billion, 19,000 Loans.

Update: I have added 11 worksheets to help focus on 2020 Oregon minority home loan acquisitions by the GSE's. 

New post HERE has the details. 

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For 20 years I have downloaded and analyzed  Oregon data on loans purchased by Fannie Mae and Freddie Mac (The "GSE's). In 2001 I used that data to provide reports on the state of African American and Hispanic homeownership in Oregon. (Short version: GSE's weren't doing much to help first time African American and Hispanic homeowners and increasing homeownership rates requires more lending to first time home buyers). 

A chronological listing of my blog posts with GSE as the keyword is HERE, 

Several years ago, thanks to Will White in Senator Merkley's office, we finally got the GSE regulator (FHFA) to release annual GSE data in a MS Access format to make it easier to extract data for analysis in Excel.  Data is available at the state, metro, county, and census tract level. 

FHFA published the GSE 2020 data late last week. This year FHFA has changed the data posted to require combining two tables in Access in order to get all data fields for each loan acquired. Suffice it to say that it is a multiple step PITA to do so. [It would be much more user friendly to split the data, sorted by state name]. 

New Excel File

Thanks to the weekend rain I hunkered down and produced a 125 MB Excel workbook HERE with all the GSE loan data for 2020 for Oregon. I added several columns to convert codes into NAMES that users could understand. [File is large at about 125 MB's].

The GSE data includes many of the same data fields as the HMDA data, but covers more geography. Notably it does NOT include lender identification but DOES include FIRST TIME HOMEBUYER data that is missing in HMDA data. 

Within the Excel workbook are multiple worksheets listed in the READ me file in the workbook. They include.

• A pivot table which allows users to explore topics of interest, including race, ethnicity, gender, loan to value, financing costs, etc. [See pic pasted below for snapshot of Pivot table loan counts by Oregon metro area].
• A listing of all data fields including those that I added. 
• Two subordinate worksheets that include only 2-4 unit properties AND only first time homebuyer purchase loans.  
• A statewide and a county level summary worksheet with counts and dollars for all loans, all purchase loans, and first time home purchase loans. Both worksheets include calculations of the PER UNIT acquisition balance for 2, 3, and 4 unit properties AND how those average PER unit costs compare to ONE unit homes. (Spoiler alert--they are a LOT lower). 

Some statewide observations:

The statewide summary as a PDF is available HERE and embedded below. 

A total of 163,089 loans were purchased with 166,107 units. Two to four unit properties accounted for 2,168 loans and 5,186 units. 

Two to Four Unit PER UNIT Average Principal Balances at Acquisition Were Substantially Lower than for One Unit Properties.

The average mortgage balance at acquisition for ONE unit loans was $300,016. 

On a PER UNIT basis the average mortgage balance at acquisition for two to four unit properties was $128,074. That's 57%/171,942 LESS PER UNIT than a one unit property. 

For two to four unit home purchase acquisitions (NOT refinances) the PER UNIT difference was even higher at 58%./$191,148. 

Originally created and posted on the Oregon Housing Blog. 

A First: New Excel Database Has Details on 719,000 US First Time Home Buyer GSE Loan Acquisitions in 2018.

I have posted for many years data from the annual GSE [Fannie Mae and Freddie Mac] public use census tract level database, usually focusing on Oregon data. (While I was still at HUD I produced two reports showing, in 2000, the absence in Oregon of GSE loans for Black and Hispanic first time home buyers). 

The GSE data set is unique in that it includes a first time home buyer data field NOT found in HMDA data. 

If it isn't obvious, the location and recipients of first time home buyer loans is important because first time home buyer loans drive increases in home ownership rates. 

A few years ago analysis of the GSE data became more feasible because, following up my suggestion, Will White from Senator Merkley's staff got FHFA to post a Microsoft Access version of the GSE database. This made it easier to extract data into Excel. 

This year I decided to extract ONLY first time home buyer loans acquired by Fannie Mae and Freddie Mac for ALL states; a total of 719,697 loans. Interestingly only 470,140 (65%) of these first time home buyer loans are coded for purchase, the remainder are coded as refinances, home improvement, or purpose not available.

As in the past I added a number of NAME fields (instead of just codes) to the posted data to facilitate use. Those named fields I added include state, metro area, county, borrower race and ethnicity, and a borrower income group.

The full 2018 data dictionary for the GSE data (with 39 data fields for each loan) can be found HERE.

The resulting Excel file I created is HERE and it is LARGE (240MB's). [Be patient, it may take a few minutes to download].

The Excel workbook includes a Pivot table, the FTHB data, and a field listing. The default Pivot table view shows state totals and includes pull downs for metro areas and counties, and loan purpose. 

IF you're interested in who is getting GSE backed first time home buyer loans, and where, this is an important (and unique) resource. (The complete 2018 MS Access GSE census tract level database. with more than 3M records, is HERE).

Some Oregon examples, using the Pivot table to find first time home buyer data: 

• The universe of all FTHB loans was 11,140, but only 7,242 (65%) were coded as home purchase loans.
• Only 6,065 of the 7,242 FTHB home purchase loans had borrower race identified. Of those only 101 (1.7%) went to a Black first time borrower. 
• Of the 7,242  FTHB home purchase loans, 1,693 (23.4%) went to borrowers with incomes at or below 80% of median family income and 765 (10.6%) went to borrowers with incomes of 200% or more of median family income.

Note: The current GSE data will be updated later this fall to add some HMDA related data fields.

Originally created and posted on the Oregon Housing Blog. 

Correcton: Oregon 2016 HMDA Loan Originations and GSE Loan Purchase Data for African Americans in One Excel Workbook.

Correction: I noticed a formula error in the workbook that impacts only the HMDA data. Instead of 1 in 1,000 home purchase loans made to African Americans, there were 10 out of 1,000 home purchase loans made to African Americans. I changed the workbook and text below accordingly.
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The 19th annual African American homeownership fair coming up on on Saturday October 28th provides an opportunity to share recently released 2016 HMDA and GSE loan data loans originated or purchased by the GSE's in Oregon. 

The Excel workbook I created HERE ( and embedded below) has all of the combined data and includes pivot tables to make exploration of the data easier. 

Key metrics for Oregon 2016 GSE loans: 

1. There were a total of 81,130 loans purchased by the GSE's in Oregon.  
2. 12,949 of these GSE loans went to first time home buyers.
3. Of the 12,949 first time home buyer loans 160 went to African American borrowers or co-borrowers. [2016 ACS estimates 18,097 African American renter households and 7,937 African American home owners in Oregon]. 
4. This means that for every 1,000 Oregon FTHB GSE loans in 2016, 12 went to African American borrowers or co-borrowers. 

Key metrics from Oregon 2016 HMDA data (HMDA data does not include a first time home buyer data field):

1. Lenders originated 136,083 loans in Oregon. 
2. Of those a total of 63,649 were home purchase loans.
3. Of the 63,649 home purchase loans, 664 went to African American borrowers or co-borrowers. 
4. This means that for every 1,000 Oregon home purchase loans originated in 2016, 10 went to African American borrowers or co-borrowers. 

Originally created and posted on the Oregon Housing Blog.

BIG data:Census tract loan level data for 150,000 GSE loans in Oregon 2015-2016, Includes 24,000 first time homebuyer loans

Using newly published data have constructed a large (75MB) Excel workbook for download HERE that contains census tract loan level details for 150,000 + loans purchased by Fannie Mae and Freddie Mac in Oregon in 2015 and 2016. 

Unlike HMDA data this dataset includes a field that identifies 24,000+ loans to first time homebuyers, and it covers the entire state, NOT just metro areas. 

The workbook contains multiple worksheets for both 2016 and 2015:

GSE first time home buyer data (6 worksheets)

• A metro summary table of Black first time homebuyers for both 2015 and 2016. (In 2016 this table shows that out of every 1,000 first time home buyer loans purchased by the GSE's in Oregon 14 went to black borrowers or co-borrowers). 
• A metro summary table of Hispanic time homebuyers for both 2015 and 2016.  (In 2016 this table shows that out of every 1,000 first time home buyer loans purchased by the GSE's in Oregon 59 went to Hispanic borrowers or co-borrowers). 
• First time homebuyer pivot tables for 2015 and for 2016.
• All first time home buyer data for 2015 and 2016.

All GSE loan data (4 worksheets)

• Pivot tables of all GSE loans for 2015 and 2016.
• All GSE loan data for 2015 and 2016. 

A field listing worksheet.
A worksheet with select GSE field codes [ used in formulas to add names instead of fields to data worksheets].

The 2016 data dictionary for this GSE data is HERE.  
Note that for loans shown for the Portland metro area, loans in Clark County WA. are NOT included. 

As an aside, this annual GSE source data is now readily available in MS Access format thanks to support from Senator Merkley's now retired Senior Advisor Will White.  

Originally created and posted on the Oregon Housing Blog.

HMDA 2015 Oregon Excel File: Data for 117k+ Loan Originations.

File (using CFPB posted data) is HERE (too large to embed). 

File opens to Pivot table that by default shows loans originated to Hispanic borrowers. Tables below show that FHA accounted for only 19% of all Home purchase loans, but 41% of all home purchase loans with a Hispanic Borrower. (I've checked and the African American home purchase FHA market share was 30%). 

Another worksheet in the workbook shows a listing of all data fields and a link to the query used to create the workbook. 

Note that unlike GSE data HMDA does not cover rural areas and does not have a data element to identiry first time homebuyers. 

Originally created and posted on the Oregon Housing Blog. 

Details on 11,000+ First Time Home Buyer Loans from GSE's in Oregon in 2015.

Using recently posted GSE census tract level data for 2015, I constructed an Excel workbook HERE and embedded below that provides details on more than 11,000 first time homebuyer loans in Oregon purchased by Fannie Mae and Freddie Mac in 2015. 

The workbook opens to a chart showing how many loans per 1,000 first time homebuyers went to Black and Hispanic first time homebuyers. Other worksheets break out Black and Hispanic FTHB data and the workbook also includes a pivot table worksheet

(You can see more background on my prior year posting of GSE data for Oregon in Sept 2015 post HERE. 


Originally created and posted on the Oregon Housing Blog. 

Oregon GSE Activity 2014: Down Significantly to $11.3 Billion in Loans, 53k Borrowers.

I have posted a new Excel workbook HERE that includes loan level detail for 53K/$11.3 billion in GSE loan purchases in Oregon in 2014; the data is available down to the census tract level. Caution: The file is LARGE at 53 MBS's. 

The data comes from the Federal Housing Finance Agency national GSE 2014 MS Access Database HERE--even zipped it is VERY large at 186 MB's, so I don't recommend downloading the national file unless your doing national research. The 2014 GSE public use data dictionary is HERE. 

Included in my Excel workbook are these worksheets 

• All Oregon GSE data. I added several lookup columns starting at Column AN that substitute names for select codes in the MS Access database. This includes race, ethnicity, and loan purpose. 
• A pivot table of all Oregon GSE data.
• All Portland Metro GSE data, including Clark County in Washington
• A pivot table of the Portland Metro GSE data
• Several worksheets with codes and lookups used to add names to select coded values. One worksheet shows the field names for all 39 columns of GSE data. 

This search of my blog has my prior GSE posts HERE, including my Sept 2014 post of an Excel workbook with similar data for 2013.  With the added 2014 data there is now now is 5 years of available Excel GSE data for Oregon from 2010 forward; likely Oregon is the only state with that scope of GSE census tract level data readily available.

Notes

1. 2014 GSE Oregon activity of 53k loans, $11.3 billion is DOWN significantly from Oregon GSE 2013 loan volume of 95k loans, and $19.1 billion. 
2. Unlike HMDA data, GSE data includes non metro areas AND also includes a code for first time home buyers. 

Originally created and posted on the Oregon Housing Blog. 

Excel File With Loan Level Detail for Nearly 95,000 2013 GSE Oregon Loans.

My prior post provide a peek at GSE loan volume in Oregon in 2013.  I downloaded the MS Access file from FHFA and created an Excel file HERE that provides loan level detail for nearly 95,000 Oregon GSE loans in 2013. 

The workbook opens in a Pivot Table view of the data. The default view shows 8,177 first time home buyer loans by race, including only 63 African American first time home buyer loans.

Changing the borrower ethnicity filter to Hispanic you would find 294 Hispanic first time home buyer loans. (The data dictionary for all data elements is HERE).



Originally created and posted on the Oregon Housing Blog.

CY 2013 GSE Public Use Database Just Released With Info to Census Tract Level: Oregon $19+ Billion, Nearly 95,000 Loans.

FHFA waited to the last day of the September, but a zip file of the GSE CY 2013 census tract level database (that unzips to MS Access format) is HERE; the data dictionary is HERE.  

The overall FHFA web page for GSE public use databases is HERE, prior year combined GSE files in MS Access format are found HERE. Before downloading note that these are large files; a PC with a faster processor and large memory is recommended.

Readers can find my prior year posts on this GSE database by using the search dialogue box at top left of the blog using search term "GSE data"; that search produces THIS result, including links to posts with Oregon specific data. (In CY 2012 the GSE's purchased $17+ billion in loans in Oregon, for 84,000+ homeowners/buyers).  

2013 Quick Peek: 
Oregon GSE Loans $19.164 billion, 94,691 loans.  8,177 First Time Home Buyers.
It will take me several days to create a useable Excel file of Oregon GSE 2013 loans, but appears to me that Oregon 2013 GSE lending volume easily exceeded 2012 totals.

My prior post HERE explains how my suggestion and follow up by Senator Merkley Senior Advisor Will White led to FHFA publication of the CY 2010 data in MS Access format for the first time.

Two features of the GSE database are unique vs. HMDA data. 

1. The database has a field that shows whether the purchaser was a first time home buyer. 
2. The database covers ALL areas, not just metropolitan areas. 

Originally created and posted on the Oregon Housing Blog.

CY 2010-CY 2012 Data Trifecta: Census Tract Level GSE SF Loan Data; $50 Billion in Loans to 252,000 Oregon Families.

I have prepared a one of a kind 95MB Excel workbook HERE that contains census tract loan level data for $50 Billion/ 252,000+ Oregon single family loans acquired by the GSE's in Oregon during CY 2012, CY 2011, and CY 2010.(I extracted this data from FHFA public use databases for these years).

The data worksheet has columns I have added to FHFA data to show names instead of codes for several selected fields including borrower and co-borrower race and ethnicity, loan purpose, and borrower income ranges; with 48 fields of data for each record, there are more than 12 million pieces of data available for these 3 years . 

A complete list of all fields in the data downloaded from FHFA (a data dictionary) for 2012 is HERE, 2011 HERE, and 2010 HERE [ Census tract definitions, minority percentages, and median incomes may vary from year to year as newer information became available]. 

Using filters and the pivot table in the Excel workbook users can research answers to questions like these:
1. How many loans were acquired that were made to purchase a home where there was a first time Hispanic Borrower or Co-borrower, and where were those loan made (A similar analysis is possible by race).
2. How many/where were loans acquired for borrowers with incomes below 80% MFI? 
3. How many /where were loans acquired that had been made to investors, and where were those loans? 
4. Who got high cost loans and where were they? 
5. How did refinance loan volume change from year to year?

Note that unlike HMDA data, the GSE data covers ALL areas of the state, not just metro areas, and also includes a first time home buyer field not found in HMDA data.

The PDF file HERE and embedded below summarizes by CY and by county and by year the unpaid loan balance at the time of GSE acquisition and the count of loans.



Originally created and posted on the Oregon Housing Blog. 

GSE Public Use MS Access Single Family Database for CY 2012 Available.

The MS Access GSE CY 2012 public use single family database, with data to the census tract level, is available as a zip file HERE. The web page with all GSE CY 2012 data is HERE.

My post with CY 2012 SF data from last year, which included an Oregon Excel workbook, is HERE. 

Readers may recall that posting of GSE SF data in MS Access formats occurred because of the actions of Senator Merkley, and his senior adviser Will White. 

Originally created and posted on the Oregon Housing Blog.

OR GSE Delinquencies: Still 20,000+ Delinquent Loans; Serious Delinquency Rate Was 17th Worst in Country, Higher than California, but LESS than National Avg.

Using FHFA data from Appendix in report HERE I created Excel file and ranked states by serious delinquency rates. 

Excel file is HERE and embedded below: (It is in landscape format, so you may have to scroll to fully see all columns and rows).

Originally created and posted on the Oregon Housing Blog.

New GAO Report on GSE Multifamily Activity: 2011 Market Share was Double 2008 Market Share.

Haven't read in detail yet , but report is available from NCSHA site HERE.  Quick tidbits:

[GSE's]...financed less than 30 percent of annual multifamily loans originated before 2008 ...Their share of the multifamily market increased to 86 percent in 2009, but decreased to about 57 percent in 2011 as other participants reentered the market.

State table on PDF pages 90-91 shows $6.2 billion in GSE MF activity in Oregon from 1994-2011. (Recall that GSE's did $13.8 billion in SF loans in Oregon in CY 2011 alone).

Originally created and posted on the Oregon Housing Blog.

CRS Report: FAQ's on GSE Financial Status

Thanks to heads up from old favorite, beSpacific.

PDF is HERE.

PS...No one ever won the ITunes gift card I offered up in this prior GSE related post. Just sayin'...

Originally created and posted on the Oregon Housing Blog.

Oregon CY 2011 GSE Data in Excel (W Gift Card Contest): GSE Loans Down 16% from CY 2011, Still Nearly $14 Billlion.

I have extracted Oregon data from the CY 2011 national GSE Public Use MS Access database and have posted that (much smaller) 27 MB Excel workbook to Google Docs HERE (it's possible that you may need a free Google account to download but I don't think so).

The Excel workbook includes an enhanced version of the MS Access data that includes several fields I created that show names for otherwise coded data, including county and metro names, names for borrower and co borrower race and ethnicity, and a income grouping name (less than 80% MFI, etc.),  [For the codes used for other fields look at the CY 2011 data dictionary is HERE].

Also included in the workbook are:

1. A statewide comparison of loan counts and $$ for CY 2011 vs  CY 2010.  
2. County level loan counts and $$ for CY 2011 AND CY 2010.
3. A pivot table.
4. A summary of CY 2011 loans by county and by agency.
5. Select code values with a link to the CY 2011 data GSE census tract data dictionary.

Observations: 

1. Total Oregon GSE loans in CY 2011 were 70,656; Total loan $$ were $13.8 billion.
2. CY 2011 vs CY 2010: The GSE reduction in loan counts was 16% overall, but only 2% for home purchase loans; Fannie Mae's reduction was only 10%, and Fannie Mae Home Purchase loans grew by 5%.   
3. My prior post HERE summarizes data showing an even LARGER 32% drop in the count of Oregon FHA loans for CY 2011 to 13,659, with a loan volume of $2.7 billion.  
4. So, combined CY 2011 GSE and FHA loan volume in Oregon was 84,315 and $16,492,372,532 vs.104,288 and $21,350,843,920 in CY 2011. (That's a 19% reduction in the number of loans and a 23% reduction in loan $$).                 

Gift Card Contest: 
ITunes gift card, and shout out, to the first person who uses the pivot table to find and send me the correct answer to the question:

 "In CY 2011, out of the total of 70,656 loans they acquired in Oregon, how many total Oregon loans did the GSE's purchase that had been made to first time home buyers with either a Hispanic borrower OR coborrower?

Originally created and posted on the Oregon Housing Blog. 

FHFA Posts GSE CY 2011 Census Tract Level Data as MS Access Database.

You can download newly posted CY 2011 GSE single family census tract level MS Access database HERE (it is 246 MB's and will take LOTS of PC power so I wouldn't download and try to open unless you have lots of RAM and computing power).  

Main page for FHFA public disclosures is HERE.

Readers will recall getting FHFA to post this database in MS Access format was one of rare occasions where outcome was exactly what I was hoping, in no small measure thanks to follow up from Will White, Senior Advisor to Senator Merkley. I'm very pleased that FHFA posted CY 2011 GSE CT level data in this format with need for prompting.

Originally created and posted on the Oregon Housing Blog.

Study: Minority Borrowers/Communities Get Too Many FHA and VA Loans.

Story about study in seven cities (not including Portland or Seattle) is HERE; study is HERE.

Tempting to put this into "no good deed goes unpunished" bin; reality is that government loans have long been a primary source of mortgage financing for African American and Hispanics (especially first time buyers), while conventional and GSE loans to African Americans and Hispanics have lagged. 

Only period when this was not true was during subprime days (remember those were conventional loans) and that didn't work out so well.

Originally created and posted on the Oregon Housing Blog.

GSE's Claim Exemption from Real Estate Transfer Taxes.

And have filed a lawsuit in Illinois, according to Housing Wire, HERE. 

Raises the question as to whether GSE's are paying Oregon doc recording fees, and would consider challenging those fees also. (If anyone has insights feel free to add comment to this post).

Originally created and posted on the Oregon Housing Blog.