Interview with Michael Wiener, Sr. Mortgage Advisor at Bank of Commerce Mortgage. Del Mar/San Diego, Ca Q: What is a Jumbo mortgage? A: When I started in 1993, there were only two distinct numbers to focus on. Any loan amount above the pre-set loan limits was considered a jumbo and any loan amount below was conforming. Today, the term jumbo or better yet, what are the best jumbo...

Jumbo Mortgages are loans that were created in order to provide financing for consumers requiring a loan amount that exceeds conventional loan limits. Fannie Mae (FNMA ) and Freddie Mac (FHLMC) are two government sponsored agencies that set the standard for any mortgage that they are willing to purchase from a lender. They are the largest purchaser of mortgages in the United States buying from...