CA SJR19

Expresses California Legislature's opposition to any reduction of current national and high-cost conforming loan limits for Fannie Mae and Freddie Mac by the Federal Housing Finance Agency (FHFA).

Urges the FHFA to continue resisting implementation of proposed loan limit reductions, including a December 2013 proposal to lower limits by an additional $25,000 in select high-cost areas including California.

Urges the President and Congress of the United States to join California in opposing any reduction of national and high-cost conforming loan limits.

Notes that over 36,000 loans originated in California and 11 counties with median home prices above proposed reduced caps would be adversely affected by the reductions.

Directs the Secretary of the Senate to transmit copies of the resolution to federal officials including the President, Congress members, Treasury Secretary, and FHFA Director.