Mixed Conditions in Jumbo

Just when you thought conditions might be looking up in the jumbo market stock prices tank and "rich folks" (jumbo and super jumbo borrowers) are facing the prospect of taking home less money next year when the Bush tax cuts expire. According to the new 2Q edition of the Quarterly Data Report, jumbo lending is picking up, but wholesalers continue to stay away from the business. (To order the QDR drop an email to: Deartra.Todd@SourceMedia.com.) Meanwhile, a new report from the Federal Housing Finance Agency says that Fannie Mae and Freddie Mac's portfolios weren't the major driver behind the companies' losses - it was their guarantee business. Losses on the mortgage credit guarantee businesses consumed $166 billion or 73% of their capital, FHFA found. And lastly: Congrats to Urban Lending Solutions which recently was ranked the 389th fastest growing company in America by Inc. magazine. Among its offerings, ULS is a loan modification firm. It is privately held...