5-07 MAJOR NEWS! Conforming Jumbo Rates Slashed

[IONEGARM]

Fannie Mae said they would take jumbo conforming at the same rate as the TBA pools, they said this on their conference call yesterday.

Looks like they were serious.

[HLS]

I expect the “happy talk” from Paulson, but not from Buffet..
I don’t think that the credit crunch is anywhere near over.

It looks like you need at least 25% equity to do a NO CASH OUT “JC” refi at the lower rate but can still get the better rate with 20% down on a purchase. (An 80% refi is still pricing higher, same as yesterday about 6.125%)

It’s just one more attempt to save a few people from doom.

It’s not going to help anybody who is underwater or who cannot qualify full doc.
There has been a lower back end DTI ratio on JC loans, which I think is still in place.

If I get updated specific guidelines I will post them later.

This is going to reward people with good credit scores who could actually afford a higher rate & payment to have a lower one!

[HLS]

I expect the “happy talk” from Paulson, but not from Buffet..
I don’t think that the credit crunch is anywhere near over.

It looks like you need at least 25% equity to do a NO CASH OUT “JC” refi at the lower rate but can still get the better rate with 20% down on a purchase. (An 80% refi is still pricing higher, same as yesterday about 6.125%)

It’s just one more attempt to save a few people from doom.

It’s not going to help anybody who is underwater or who cannot qualify full doc.
There has been a lower back end DTI ratio on JC loans, which I think is still in place.

If I get updated specific guidelines I will post them later.

This is going to reward people with good credit scores who could actually afford a higher rate & payment to have a lower one!

[HLS]

I expect the “happy talk” from Paulson, but not from Buffet..
I don’t think that the credit crunch is anywhere near over.

It looks like you need at least 25% equity to do a NO CASH OUT “JC” refi at the lower rate but can still get the better rate with 20% down on a purchase. (An 80% refi is still pricing higher, same as yesterday about 6.125%)

It’s just one more attempt to save a few people from doom.

It’s not going to help anybody who is underwater or who cannot qualify full doc.
There has been a lower back end DTI ratio on JC loans, which I think is still in place.

If I get updated specific guidelines I will post them later.

This is going to reward people with good credit scores who could actually afford a higher rate & payment to have a lower one!

[HLS]

I expect the “happy talk” from Paulson, but not from Buffet..
I don’t think that the credit crunch is anywhere near over.

It looks like you need at least 25% equity to do a NO CASH OUT “JC” refi at the lower rate but can still get the better rate with 20% down on a purchase. (An 80% refi is still pricing higher, same as yesterday about 6.125%)

It’s just one more attempt to save a few people from doom.

It’s not going to help anybody who is underwater or who cannot qualify full doc.
There has been a lower back end DTI ratio on JC loans, which I think is still in place.

If I get updated specific guidelines I will post them later.

This is going to reward people with good credit scores who could actually afford a higher rate & payment to have a lower one!

[HLS]

I expect the “happy talk” from Paulson, but not from Buffet..
I don’t think that the credit crunch is anywhere near over.

It looks like you need at least 25% equity to do a NO CASH OUT “JC” refi at the lower rate but can still get the better rate with 20% down on a purchase. (An 80% refi is still pricing higher, same as yesterday about 6.125%)

It’s just one more attempt to save a few people from doom.

It’s not going to help anybody who is underwater or who cannot qualify full doc.
There has been a lower back end DTI ratio on JC loans, which I think is still in place.

If I get updated specific guidelines I will post them later.

This is going to reward people with good credit scores who could actually afford a higher rate & payment to have a lower one!

[Daniel]

HLS,

Could I ask you a question regarding these JC loans? What type of people walk in your door asking for them? I’m sure you see all sort of cases, from underwater folks that you have to turn away, to those who have perfect credit and 50% down. I’m trying to get a feeling on how many there are in each category. So, what would you say? Mostly in distress, or mostly in good shape, or a little bit of both?

Thanks,
Daniel

[Daniel]

HLS,

Could I ask you a question regarding these JC loans? What type of people walk in your door asking for them? I’m sure you see all sort of cases, from underwater folks that you have to turn away, to those who have perfect credit and 50% down. I’m trying to get a feeling on how many there are in each category. So, what would you say? Mostly in distress, or mostly in good shape, or a little bit of both?

Thanks,
Daniel

[Daniel]

HLS,

Could I ask you a question regarding these JC loans? What type of people walk in your door asking for them? I’m sure you see all sort of cases, from underwater folks that you have to turn away, to those who have perfect credit and 50% down. I’m trying to get a feeling on how many there are in each category. So, what would you say? Mostly in distress, or mostly in good shape, or a little bit of both?

Thanks,
Daniel

[Daniel]

HLS,

Could I ask you a question regarding these JC loans? What type of people walk in your door asking for them? I’m sure you see all sort of cases, from underwater folks that you have to turn away, to those who have perfect credit and 50% down. I’m trying to get a feeling on how many there are in each category. So, what would you say? Mostly in distress, or mostly in good shape, or a little bit of both?

Thanks,
Daniel

[Daniel]

HLS,

Could I ask you a question regarding these JC loans? What type of people walk in your door asking for them? I’m sure you see all sort of cases, from underwater folks that you have to turn away, to those who have perfect credit and 50% down. I’m trying to get a feeling on how many there are in each category. So, what would you say? Mostly in distress, or mostly in good shape, or a little bit of both?

Thanks,
Daniel

[CAwireman]

Is there a short fuse on these jumbo conforming loans?

Are they scheduled to be available only through 2008?

I had heard this from a friend of mine….

Thanks!

[CAwireman]

Is there a short fuse on these jumbo conforming loans?

Are they scheduled to be available only through 2008?

I had heard this from a friend of mine….

Thanks!

[CAwireman]

Is there a short fuse on these jumbo conforming loans?

Are they scheduled to be available only through 2008?

I had heard this from a friend of mine….

Thanks!

[CAwireman]

Is there a short fuse on these jumbo conforming loans?

Are they scheduled to be available only through 2008?

I had heard this from a friend of mine….

Thanks!

[Author]

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