Comment Detail
Date: 07/16/15 First Name: Richard Last Name: Sobocinski Organization: Bethpage Federal Credit Union City: N/A State: N/A Attachment: N/A Number: 2015-N-03 Comment
As a New York area lender we cannot meet the demand for higher balance loans because we are forced to hold them on our own books due to the lack of service retained jumbo investors. As a credit union we value maintaining the service relationship and offering the best rates. The GSE’s provide us with that possibility, while the jumbo market does not. We cannot compete against the large Banks that continuously add jumbo loans to their own portfolios.
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