Jumbo mortgage lenders invade Fannie and Freddie’s turf

With overnight bank funding rates near zero, investors are flush with cash — liquidity they are using to compete with Fannie Mae and Freddie Mac on the secondary mortgage market. Investors that would typically deal with jumbo loans are creeping into Freddie and Fannie’s territory, financing smaller loans below the agencies’ dollar cap for mortgages, according to a column in the Los Angeles Daily News. Borrowers can now get a 30-year fixed-rate jumbo mortgage for