Banks embraced jumbo mortgages for the wealthy. Now that market is slipping.
Originations for jumbo mortgages, which are loans too big to be sold to Fannie Mae and Freddie Mac, dropped 12% last year by dollar volume, outpacing the 7% decline in mortgages
that meet the standards for Fannie and Freddie’s government backing. The $281 billion in jumbo originations was off 27% from its postcrisis peak two years earlier, according to Inside...
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