0 minute readSigns of a slow thaw in the jumbo mortgage market are lifting the spirits of some Charlotte-area mortgage lenders. With prospects for an economic recovery slowly improving, Wells Fargo & Co. recently decided to expand a jumbo mortgage program that had been limited to its retail customers. The San Francisco-based bank is now funding some jumbo loans for mortgage brokers and purchasing jumbos from other mortgage lenders. “We’ve reached a comfort level with that product,” Wells Fargo spokesman Tom Goyda says of the decision to add more jumbo loans to the bank’s portfolio.
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
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The story for the housing market over the past three years has been, “Home sales are down, home prices are up.” Because inventory was so restricted after the pandemic, prices pushed higher even as demand weakened. That story may finally be inverting as unsold inventory of homes is now great enough that home prices are […]
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Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio