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Special Reports

In this section of BrokerUniverse we examine a subject of key importance for mortgage originators every month, based on special reports that run in our sister publication, Origination News.

Jumbo and Nonconforming Lending

Breaking Through The Wall

To those originators and borrowers who need jumbo and other nonconforming mortgage loans, it seems like lenders are building a brick wall to keep them out.

These borrowers still have a need, but everywhere they turn, there is a blockade preventing them from getting what they need.

Originators are looking through the wall for ways to keep it from completely closing up. But it might be just a small hole left.

In this Special Report, read about the decision of Saxon to sort of cut its subprime menu. While it is looking to sell loans to Fannie Mae and Freddie Mac, those loans, at least in theory, are subprime in nature.

Also read about how one search engine provider believes his product will help to open up possibilities for originators and their clients who needed jumbos and nonconforming loans.

But another technology provider notes that mortgage brokers are seeing that wall in front of them with no peephole to let some jumbo and nonconforming products in.

As for the future, the belief is that bottom will not take place until midway through 2008 at the earliest. So it may be some time before the lenders start to take some, if not all, of the bricks out of the wall.

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