May System institutions use the Conforming Loan Limit to identify moderately priced housing values?
Yes, in some situations it may be appropriate. The CLL is a national value representing the maximum mortgage amount that housing GSEs are permitted to buy, not the sales price of homes being financed. FCA regulations require institutions to use data from credible, independent, and recognized national or regional sources, such as a federal, state, or local government agency or an industry source. The CLL is calculated using data collected by a Federal agency so it is considered an allowable data source. However, the CLL may or may not be the most representative data available for an institution to use when determining moderately priced housing in its territory. In order for an institution to use the CLL, it would be necessary for the institution to provide reasonable support that using the CLL (or a calculated value, based on the CLL) would result in financing moderately priced homes in its territory. The CLL for single-family mortgages in 2007 was set at $417,000 except for Alaska, Haw
