Category Archives: Jumbo

The Return Of The Jumbo Mortgage

Two banks are planning to return to the jumbo mortgage market. This market has been dead since 2007 due to a high rate of defaults. Maybe happy days are here again? Bloomberg reports: JPMorgan Chase and Citigroup are expanding their … Continue reading

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Boost For Jumbo Loans

From Reuters: Fannie Mae and Freddie Mac, the largest providers of U.S. home loan funding, may for the first time use larger loans as collateral for up to 10 percent of bonds in the first stage of the $4.5 trillion … Continue reading

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Lower Rates For Jumbo Loans?

Aug. 14 (Bloomberg) — Jumbo mortgage borrowers may pay lower interest rates after a trade group loosened restrictions on a market for Fannie Mae and Freddie Mac mortgage bonds to combat the housing slump. The Securities Industry and Financial Markets … Continue reading

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Jumbo Loans Hard To Find In Michigan

From freep.com: High-cost housing markets across the country are getting a pick-me-up from the stimulus package and finally benefiting from a plan to generate lower rates on super-size mortgages. But Michigan‘s posh ZIP codes aren’t enjoying the party. If you’re … Continue reading

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Refinancing Jumbo Loans

From the Washington Times: Last week I reported that the rates on the so-called "agency jumbo" loans were dropping. Congress recently passed legislation allowing Fannie Mae and the Federal Home Loan Mortgage Corp. (Freddie Mac), the two government-chartered entities that … Continue reading

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Refinance Jumbo Loans

From CNNMoney: The new limits raised that conforming loan cap to as much as $729,750 in some high-priced metro areas through Dec. 31, in order to make home loans more readily available to help stabilize falling markets. "The liquidity crisis … Continue reading

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Cutting Rates On Jumbo Loans

From the WSJ: Executives of Fannie Mae and Freddie Mac told Congress they are finally bringing down interest rates on some "jumbo" mortgages. Jumbo mortgages are those larger than the normal limit — currently $417,000 — on loans that can … Continue reading

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Jumbo Mortgages Not Helped Much By New Bill

From Business Week: If the bill passes, the limit on the size of loans that can be purchased by government-sponsored mortgage finance companies Fannie Mae and Freddie Mac will drop to $550,000 after spending 2008 at nearly $730,000. The economic … Continue reading

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Refinance: Finding Those Elusive Jumbo Loans

Holden Lewis writes for Bankrate.com: Higher loan limits, set early this year by the federal government as part of an economic stimulus package, were supposed to make jumbo loans more affordable in expensive housing markets. Jumbo-conforming loans range in size … Continue reading

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Refinance: Getting the Big Loans

The Washington Post reports: The gears of the mortgage market are starting to unlock for borrowers needing big loans. Last week, for example, BB&T was offering 30-year, fixed-rate mortgages for a conforming loan, which is for $417,000 or less, at … Continue reading

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