I’d also like to see privatization of the mortgage market but I still think the conventional conforming ceiling needs to be higher in high-cost areas than lower-cost areas. I DO think the VA/FHA ceilings are way too high. Buyers who use these loans typically cannot qualify for a $700K + loan and it is not prudent to lend more than about $300K on a zero down or low downpayment program, such as VA/FHA, IMO.
