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BNET Business Dictionary
- Jumbo Mortgage
- a mortgage that is too large to qualify for favorable treatment by a government agency
- Jumbo Mortgage definition on BNET »
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- The Squeeze on Jumbo Mortgages
- While home loans in general have responded well to the Federal Reserve's efforts to lower interest rates, that's not true of the plus-sized loans the industry calls jumbo mortgages. That's because the secondary market for jumbos has been largely wiped out by the crisis. As a result, if you are...
- Articles 2009-05-04
- Mortgages: What It Takes to Get One Today
- Apply for a mortgage these days, and you'll quickly discover that lenders' attention to creditworthiness is drastically different from what it was two years ago. ...
- Articles 2009-07-07
- Can You Get Credit Now?
- Yes, lenders are starting to loosen up. But apply for a mortgage, refinancing, home-equity credit line, car loan, or credit card, and you'll quickly learn that the credit crunch isn't over.It's no secret that the Obama administration, the Fed, and Congress would love nothing more than to see banks start...
- Articles 2009-07-07
Additional Resources
- Not all jumbo issuers are alike
- Many factors distinguish jumbo mortgage-backed security issuers. Some factors, like the share of retail versus wholesale production, play a key role in determining credit quality. This series of profiles reveals how Moody's weighs these factors in setting baseline credit-enhancement levels for major jumbo players. Contrary to conventional wisdom, not...
- Research articles 1998-12-01
- Why Thornburg Mortgage Will Survive
- Tim Plaehn submits: It is about a year ago now that the credit crisis first started affecting jumbo mortgage originator Thornburg Mortgage TMA. In early August 2007 the stock was still trading in the low $20’s and rumors were just starting about what was soon to become a full...
- External links 2008-08-21
- Jumbo Mortgage Rates Reflect the Default Risk
- Bill Zielinski submits: Economic Crisis Impacts All Borrowers Jumbo mortgages, typically loan amounts above $417,000, are defaulting at a rapid pace as the economic crisis affects borrowers at all income levels. Bloomberg is reporting that jumbo mortgages, typically associated with higher income home owners, are becoming the next...
- External links 2009-02-24
- Prudential's home mortgage assets sold.(Prudential Insurance Company of America)
- Norwest Corp has purchased Prudential Insurance Company of America's home mortgage unit assets for between $600 million and $700 million. Prudential's decision is said to be aimed at stabilizing its earnings. Prudential will retain $40 billion of its servicing portfolio and sell the remaining to Norwest Mortgage, under the agreement....
- Research articles 1996-02-05
- Interest Rates May Drop On Jumbo Mortgages
- Nothing is ever certain with respect to interest rates. But if you want to buy a home in a high-priced market, the higher loan limits may enable you to borrow more money at a lower interest rate. Or if you want to refinance an existing jumbo mortgage, you may be...
- White papers 2008-02-15
- Chase Lands Jumbo Mortgage on 245 Park.(Chase Manhattan hired by Brookfield Properties)(Brief Article)
- In the largest financing for a single building this year, Brookfield Properties has tapped Chase Manhattan to provide a $500 million mortgage on Bear Stearns' headquarters at 245 Park Avenue in Manhattan. In the largest financing for a single building this year, Brookfield...
- Research articles 2000-10-23
- East West Bancorp Q3 2007 Earnings Call Transcript
- Question-and-Answer Session Operator [Operator Instructions]. Your first question comes from line of Andrea Jao with Lehman Brothers. Please proceed. Andrea Jao - Lehman Brothers Good morning everyone. Julia Gouw - Executive Vice President and Chief Financial Officer Good morning. ...
- Earnings calls 2007-10-18
- Is Mortgage Lending Back?
- Dear Ali: I bought an apartment in 2005 with a 6.5 percent mortgage, and now that rates are lower, I'd like to refinance it. Is it true that loans are easy to get again? A: The answer to that is the same as the answer to "Is...
- Blog posts 2009-04-07
- Toll Brothers, Inc. F4Q08 (Qtr End 10/31/08) Earnings Call Transcript
- Question-and-Answer Session Operator Operator Instructions Your first question comes from the line of David Goldberg - UBS David Goldberg - UBS In the press release and in your comments you talked about seeing some high quality land come back on the market and not yet at attractive prices,...
- Earnings calls 2008-12-04
- Robert Olesen Joins First National Bank & Trust as Vice President, Mortgage Services
- INDIANAPOLIS -- First National Bank & Trust continues to strengthen its mortgage loan group with the appointment of Robert Bob Olesen as the bank's Vice President of Mortgage Services. The bank's mortgage loan department is responsible for construction to permanent loans, lot loans, interim real estate financing, purchases or refinances,...
- Research articles 2006-03-22
- First National Bank & Trust names Olesen VP, mortgage services
- First National Bank & Trust appointed Robert "Bob" Olesen vice president of mortgage services. In this new role, Olesen is responsible for overseeing a department that manages construction-to-permanent loans, lot loans, interim real estate financing, purchases or refinances, and both jumbo and super jumbo loans in the central Indiana market....
- Research articles 2006-06-01
- Housing Numbers Up, But Don't Get Too Hopeful
- Sales of new homes rose 9.6 percent in July, which is an uptick for the fourth month in a row. Nearly three-quarters of Home Depot's markets had stronger sales in the second quarter than in the first quarter. And a popular housing price index shows that housing prices ticked up...
- Blog posts 2009-08-26
- Jumbo Loan Basics
- Jumbo loans offer large loan amounts for borrowers in high-cost markets, but may come with stricter qualifying requirements and higher interest rates. If you want to borrow an especially large amount of money to buy a home or refinance your existing mortgage, you may already be familiar with the term...
- White papers 2009-05-20
- US mortgage lender delays dividend amid credit crunch
- NEW YORK AFP — A leading US mortgage lender that specializes in high-quality, adjustable-rate jumbo loans to homebuyers on Tuesday postponed a dividend payment because of the turmoil in financial markets. Shares in Thornburg Mortgage plunged 46.71 percent Tuesday to end the day at 7.61 dollars. Five brokerages downgraded...
- Research articles 2007-08-14
- Thornburg Mortgage Announces Offering of up to $500 Million of Series F Cumulative Convertible Redeemable Preferred Stock
- SANTA FE, N.M. -- Thornburg Mortgage, Inc. (NYSE:TMA), a leading single-family prime residential mortgage lender focused principally on the jumbo segment of the adjustable-rate mortgage ARM market, today announced the launch of an underwritten public offering of Series F Cumulative Convertible Redeemable Preferred Stock, with gross proceeds of up to...
- Research articles 2007-08-30
- Thornburg Mortgage Raises $500 Million in a Cumulative Convertible Redeemable Preferred Stock Offering
- SANTA FE, N.M. -- Thornburg Mortgage, Inc. (NYSE:TMA), a leading single-family residential mortgage lender focused principally on the jumbo segment of the adjustable rate mortgage market, today announced that it priced an underwritten public offering of 20,000,000 shares of 10% Series F Cumulative Convertible Redeemable Preferred Stock at $25.00 per...
- Research articles 2007-08-30
- Drowning In Debt - 25 Million Will Be Underwater With Their Mortgages By 2011
- The clock is ticking. Homeowners are drowning. And the water is only getting deeper. That's the vision of Deutsche Bank, which this week released a disturbing study that predicts 48 percent of all homeowners with mortgages will be underwater by 2011 - that means, their homes will...
- Blog posts 2009-08-07
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