Comments on: Jumbo Mortgage? Jumbo Losses! http://www.debtreductionformula.com/blog/jumbo-mortgage-jumbo-losses/ Reduce Expenses + Increase Income + Discipline = Get Out of Debt Fri, 05 Mar 2010 09:37:31 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: Ryan Healy http://www.debtreductionformula.com/blog/jumbo-mortgage-jumbo-losses/comment-page-1/#comment-5975 Ryan Healy Fri, 29 Feb 2008 14:57:04 +0000 http://www.debtreductionformula.com/blog/jumbo-mortgage-jumbo-losses/#comment-5975 Rob - Thanks for the clarification. I appreciate it. Helps to have some insight from an "insider." Rob – Thanks for the clarification. I appreciate it. Helps to have some insight from an “insider.”

]]> By: rob http://www.debtreductionformula.com/blog/jumbo-mortgage-jumbo-losses/comment-page-1/#comment-5892 rob Fri, 29 Feb 2008 01:06:49 +0000 http://www.debtreductionformula.com/blog/jumbo-mortgage-jumbo-losses/#comment-5892 I agree with most of what you said. I am a residential loan officer and Jumbo underwriting standards have increased for sure. Just wanted to mention that the banks would have little to do with the decision to raise the conforming limit amount of 417k higher. Fannie Mae and Freddie Mac basically have control on this. Reason being that almost all banks and lending institutions sell these mortgages and they almost always are purchased by Fannie or Freddie. That is why Fannie or Freddie make a change to what loans they will purchase it affects the entire industry immediatley. About a year ago Freddie came out and said they would no longer be purchasing certain "stated income" loans. This put some riskier lenders out of business because they no longer had someone to sell their loans to. Just some FYI I agree with most of what you said. I am a residential loan officer and Jumbo underwriting standards have increased for sure. Just wanted to mention that the banks would have little to do with the decision to raise the conforming limit amount of 417k higher. Fannie Mae and Freddie Mac basically have control on this. Reason being that almost all banks and lending institutions sell these mortgages and they almost always are purchased by Fannie or Freddie. That is why Fannie or Freddie make a change to what loans they will purchase it affects the entire industry immediatley. About a year ago Freddie came out and said they would no longer be purchasing certain “stated income” loans. This put some riskier lenders out of business because they no longer had someone to sell their loans to.

Just some FYI

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