BlackRock Eyeing Jumbos

In case you missed it, BlackRock — as in Larry Fink, he of the MBS pioneer club — is toying with the idea of entering the jumbo space by creating a $1 billion fund with an eye toward securitization. (For more details see the National Mortgage News website later today.) Of course, there hasn't been a jumbo MBS issued since the spring, and the way things stand now, there won't be one until early next year when Redwood Trust readies its second nonconforming bond. As for other potential issuers, all has been quiet on that front, though rumors abound. Meanwhile, the National Association of Realtors wrapped up its annual convention in New Orleans over the past weekend. NMN's own Lew Sichelman was on the scene, filing reports for us. He noted that on Bourbon Street one night he saw a person wearing a t-shirt that said, "I drove my Chevy to the levee, but the levee wasn't there." Okay, Don McLean, it ain't…