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CrossCountry Mortgage lifts internal conforming loan limit to $845K. CrossCountry Mortgage (CCM) has raised its conforming loan limit to $845,000 through an "Early Bird" program announced Thursday, moving ahead of the Federal Housing Finance Agency (FHFA)'s official 2027 announcement and matching a similar move by Rocket Mortgage earlier in the day. Other competitors are expected to follow suit. In recent years, a handful of lenders have introduced higher limits ahead of the FHFA announcement to keep more business in conventional channels instead of pushing borrowers into jumbo loans, taking on the risk that FHFA's eventual number might differ. FHFA typically publishes its updated limits for the following year in late November. By setting its own higher limit before FHFA's formal update, CCM said it aims to give borrowers earlier access to larger conforming loan amounts and more purchasing power in a market still defined by elevated home prices. "The housing market doesn't wait for annual loan-limit updates, and neither should homebuyers," Brian Clark, director of product and pricing at CCM, said in a statement. CCM's cap is 1.47% above the current 2026 ceiling of $832,750 and applies to agency-eligible conventional loans. The $12,250 increase over the current limit can expand options for borrowers on the margin who are constrained by debt-to-income ratios or cash to close. It may also provide some pricing relief versus jumbo products, depending on the lender's rate sheets and overlays. Loans that exceed FHFA's official limit fall into the jumbo market, which is primarily dominated by banks. Rocket also rolled out an $845,000 internal conforming limit earlier in the day. The new limit applies to borrowers working directly with Rocket Mortgage as well as those working with broker partners throughRocket Pro, effective immediately. "This, in large part, has to do with Rocket's liquidity, our Fortress-like balance sheet, which allows us to do things like this that maybe other lenders wouldn't have the opportunity to do. So, we're not waiting until 2027,"Kyle Schoenmaker, Rocket Pro's senior vice president of sales, told HousingWire. The expected 2027 increase is smaller than the 3.25% jump in 2026's baseline limit. Because FHFA's annual changes track home price trends, the more modest move points to a softer housing market this year as mortgage rates hover around 7%.

Phil Crescenzo teams with son to join CrossCountry Mortgage. South Carolina-based loan officer Phil Crescenzo Jr. is joining CrossCountry Mortgage (CCM) after a brief stint at NFM Lending. He'll be reuniting with his son, PJ Crescenzo III, to help run a division focused on the Southeast states. Crescenzo is bringing a team of about 10 people to CCM, where he'll focus on serving borrowers in South Carolina and Georgia, he told HousingWire. "CCM's platform is dominating everywhere and I have a chance to reunite with my son," Crescenzo said. "They have flexibility and different programs, different products mix." Since 2000, Crescenzo has worked for five companies, including two separate stints at Cardinal Financial and Nation One Mortgage Corp., as well as roles at American Pacific Mortgage, NFM Lending and now CCM. Greg Sher, managing director at NFM Lending, said Crescenzo's decision was tied to his desire to partner with his son. "While Phil was only here for a short time, he made a tremendous impact. We'll be rooting for them both to continue building on their family name, while making inroads in underserved communities across America." NFM Lending has been growing its own footprint. Inside Mortgage Finance reported that NFM was the 44th-largest U.S. mortgage lender in the first half of 2026, originating about $4 billion in volume, up 19% from 2025. Crescenzo and his son plan to leverage CCM's platform to expand access to credit, with a focus on underserved communities. According to InGenius data, Crescenzo Jr. closed 494 loans for $161.5 million in volume in 2025. Year to date in 2026, he has closed 116 loans for $37 million. Most of his career production been centered in South Carolina, while the bulk of his originations are Federal Housing Administration (FHA) and U.S. Department of Veterans Affairs (VA) loans, products that are often critical for first-time and lower-wealth borrowers. His son, PJ, originated about $72.4 million across 240 units last year at American Pacific Mortgage, with another 28 units for $11.8 million so far this year. About 48% of his loans are conventional and 39% are FHA. Crescenzo said he sees opportunity in builder and nonqualified mortgage (non-QM) niches, particularly for borrowers who need more flexible underwriting. He pointed to the importance of "creativity to close loans" and fast-moving teams in working through builder backlogs and complex scenarios. He also highlighted CCM's ability to retain servicing on a large share of loans as a competitive advantage for originators and borrowers. CCM, the fifth-largest U.S. mortgage lender in the first half of 2026, is set to close its acquisition of Two Harbors Investment Corp. this week after clearing all regulatory hurdles. The deal is expected to further increase CCM's servicing footprint and balance-sheet capacity.