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Discussion Paper
Landing a Jumbo Is Getting Easier
The United States relies heavily on securitization for funding residential mortgages. But for institutional reasons, large mortgages, or ?jumbos,? are more difficult to securitize, and are instead usually held as whole loans by banks. How does this structure affect the pricing and availability of jumbo mortgages? In this post we show that the supply of jumbo mortgages has improved in recent years as banks have become more willing to take on mortgage credit risk on their own balance sheets.