Merrill Lynch over the past few months has been in the market actively buying jumbo mortgages and is also looking for an executive to manage its correspondent purchases, secondary market officials told Inside MBS & ABS. These officials, who spoke under the condition their names not be used, said they anticipate that Merrill, a Bank of America company, is gathering product for an eventual jumbo security. A spokesman for Merrill declined to discuss the matter, saying, “We don’t comment on our plans.” Shellpoint Partners, a company affiliated with MBS market pioneer Lewis Ranieri, is...