nowbroker
1385 Posts |
 Posted - 08/09/2008 : 09:37:31 AM
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Sorry if this was posted earlier, I did not see anything.
As you probably know Fannie Mae posted a little 2.3 Billion dollar loss yesterday, and said it may scale back purchasing some loans. There is a article in today's Wall Street Journal page B6 that states they will start to concentrate on buying higher balance jumbo mortgages in the marketplace to shore up its profits. Although this may mean some slight increases in conforming, this will help bring down the huge spread between conforming and jumbo rates- which is GREAT news especially in the hardest hit areas where prices are higher. |
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