OFHEO Working Papers are preliminary products circulated to stimulate discussion and critical comment

OFHEO WORKING PAPERS WORKING PAPER 07 - 1 Securitized Jumbo Mortgages: 1986 - 2005 by Everson W. Hull Office of Federal Housing Enterprise Oversight 1700 G Street N.W. Washington, DC 20552 (202) 414-6930 ehull@ofheo.gov June 2007 OFHEO Working Papers are preliminary products circulated to stimulate discussion and critical comment. The analysis and conclusions are those of the authors and do not imply concurrence by other staff at the Office of Federal Housing Enterprise Oversight or its Director. Single copies of the paper will be provided upon request. Comments on this paper should be directed to the author (contact info above). References to OFHEO Working Papers (other than acknowledgment by a writer that he or she has had access to such working paper) should be cleared with the author to protect the tentative character of these papers. Abstract Securitized Jumbo Mortgages: 1986 - 2005 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 ...