You Might Have a Tough Time Getting a ‘Jumbo Mortgage’ During Pandemic. Here’s What to Expect
CNBC, July 13, 2020–Sarah O’Brien
In the face of economic uncertainty and continuing high numbers of new unemployment claims — which means it’s trickier to predict who won’t default on a loan — that secondary market has largely dried up. “There are fewer investors interested in buying those loans,” said Mike Fratantoni, chief economist at the Mortgage Bankers Association.