Thanks to Redwood Trust, it would appear that jumbo loan rates may be headed south. Or not. Redwood's recent securitization of jumbo loans broke the thaw in the non-GSE securitization market and plenty of firms are now contemplating jumbo conduits, or so we're told. I was recently sent a solicitation from New Mortgage Company (whoever they might be ) offering me a jumbo loan at 4.5% -- fixed for seven years. Meanwhile, with amendments coming fast and furious in the financial regulatory overhaul process, one veteran mortgage banker I know (whose been following the action closely) quipped that Congress has turned into the "Baby Proofing Society of America"...
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