Agency Updates; HELOC Interest Among Borrowers

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Posted To: Pipeline Press

Yesterday the commentary noted how jumbo lending was alive and well, at least for depository banks. Zillow recently analyzed what areas would be more likely to require a jumbo mortgage and created an interactive map showing jumbo business . In their analysis, Zillow assumed that each home is purchased with a 25 percent down payment and looked at each zip code within the major metro areas. For example, in zip code 98039 encompassing Medina, a city just outside of Seattle, more than 99 percent of homes are likely to require a jumbo loan, whereas in zip code 98108 covering Beacon Hill and Georgetown - the more modest Seattle neighborhoods- only 1.3 percent would require a jumbo mortgage. Fannie Mae has announced DU changes for government loans beginning the weekend of September 12 th to include...(read more)

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Source: http://www.mortgagenewsdaily.com/channels/pipelinepress/08192015-helocs.aspx

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