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jumbo loans: Important change in the mortgage and real estate sector -- YOU HEARD IT HERE FIRST FRIENDS!!!!!!!!!!! - 03/05/08 08:22 PM
Dear friends, family, colleagues, and associates,
I have great news that is directly related to our housing market and overall economy. As you may know, George W. Bush signed into legislation a new provision for conforming and jumbo limits on February 13th, 2008. Prior to this, any mortgage above $417,000 was considered a jumbo loan and could not be sold off and securitized to and by Fannie Mae and Freddie Mac (the two government sponsored entities who buy and insure loans). As a result, all jumbo loans USED to be told to investors (overseas, Wall Street, etc. etc.) with higher rates associated … (0 comments)
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Cyrus Khadivi
San Diego,
CA
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Freedom Lending
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