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Volume 28 - Number 46

December 2, 2011

Downloads Available: Jumbo Mortgage Originations 2008 - 3Q11

Downloads Available: Top Non-Agency Jumbo Producers in 2011 - 3Q11 (20 producers)

Downloads Available: Top Agency Jumbo MBS Issuers in 2011 - 3Q11


Cross Currents on Conforming Loan Issue Likely To Have Little Impact on Fannie/Freddie Business

The decision to restore “emergency” high-cost loan limits for the FHA, but not for Fannie Mae and Freddie Mac, will likely have a negligible impact on the government-sponsored enterprises, according to a new Inside Mortgage Finance analysis of agency jumbo mortgage activity. During the first nine months of 2011, single-family loans exceeding $625,500 – the top GSE loan amount for high-cost markets since Oct. 1 – accounted for an infinitesimal 1.5 percent of Freddie Mac’s total single-family securitization. Although the FHA can resume insuring...(Includes three data charts)

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Poll

Are current mortgage underwriting standards too tough?

Yes, they don’t reflect current market conditions and need to be adjusted to allow borrowers with below 700 FICO scores and smaller downpayments to qualify for mortgages.
Yes, and something needs to be done to significantly reduce repurchase or buyback risk so that lenders don’t apply even tougher underwriting overlays.
No, the standards are appropriate given current risks and the major default problems the mortgage market has experienced over the past several years.

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