American Banker (08/15/08) P. 3; Hopkins, Cheyenne
New jumbo conforming loans eligible for purchase by Fannie Mae and Freddie Mac under recent housing legislation can be included in the to-be-announced (TBA) mortgage-backed securities market, according to the Securities Industry and Financial Markets Association. The change was recommended in a letter to the group from House Financial Services Committee Chairman Barney Frank, D-Mass. However, the group suggests that no more than 10 percent of the total balance of the TBA-eligible pool be tied to these mortgages, which range from $417,000 to $625,000 in high-cost markets.
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