General World News

The jumbo market’s turning point (Part I)

Gregg Busch has shifted his business focus over the last year or so. And he hasn’t done so voluntarily. 

Busch is vice president and senior mortgage banker at First Savings Mortgage Corporation, a Virginia-based lender that produced $2 billion in mortgages in 2022, less than half the $4.2 billion volume of the previous year, per the mortgage data platform Modex

Until mid-2022, 65% of Busch’s pipeline were jumbos, conventional loans that exceed Fannie Mae and Freddie Mac‘s purchase standards, as set by the Federal Housing Finance details ⇒

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