Chase wholesale eliminates jumbo home loans

Chase wholesale eliminated jumbo home loans today (thanks for the tip S!) - citing the lack of a secondary market, poor loan performance and decreased volume.  The lift on the federal loan limit, declining property values and the elimination of stated income, stated asset loan products are all reasons that the jumbo market has dried up.  We should expect to see more of this.  Big, non-performing loans that suck up liquidity just aren't a prudent business decision for lenders any longer. While I'd normally beat the dead man walking drum I think this is pretty immaterial to most brokers as most folks, except for a very few that could actually provide documentation for a larger loan amount, weren't able to qualify for these loans in the first place. From Chase: Friday,