Published:
06/06/2007
Attachments:
Working Paper 07-1
Author(s): Everson W. Hull, Business Economist
Abstract: This paper provides a historical review of the characteristics of jumbo mortgages financed through securitization. The research uses loan-level data on a large proportion of all jumbo mortgages originated from 1986 through 2005 and later securitized. That sample permits detailed analysis of variations over time in the purchase and refinance shares of jumbo loans that were securitized, the types of loan products preferred by borrowers who took out those jumbo loans, the loan-to-value (LTV) ratios of the mortgages, and the credit scores of the borrowers.