2008 NAR Policy Accomplishments - Financial Services and GSE Policy

Provided permanent authority for high cost area adjustments to the Fannie Mae/Freddie Mac conforming loan limit up to the lesser of 115% of the local area median price or $625,500, and retained the current $417,000 floor.
Overhauled the regulatory structure of Fannie/Freddie by creating a new regulator and regulatory requirements.
Alleviated pressure on the U.S. credit markets caused by “toxic” mortgages by establishing the Troubled Asset Relief Program (TARP) to purchase up to $700 billion in troubled assets from financial institutions.
Supported federal legislation and regulations to prevent predatory lending while keeping fair and affordable mortgage lending available.