From a broker update passed along by a plugged-in tipster:
Countrywide, America’s Wholesale Lender will begin accepting loan submissions under the temporary “jumbo conforming” loan limit increases of the Economic Stimulus Package on Monday, March 17, 2008.
Yes, that’s today.
UPDATE: From Julian Hebron at RPM Mortgage: “Major lenders like Chase, Wells, WAMU, and Countrywide have announced pricing on super conforming 30yr fixed loans above $417k this morning, and so far rates are very close to jumbo loans. The higher pricing is probably to keep pipelines from getting jammed up in case FNMA runs into trouble purchasing these loans. FNMA guidelines for super conforming are tight, similar or tighter in some cases than existing jumbo guidelines, and far tighter than FNMA guidelines for conforming loans up to $417k.”
∙ If The Plugged-In Readers Are Right, Jumbo-Conformings Are Here [SocketSite]