Jumbo lending has picked up with looser underwriting rules

Borrowers with lower incomes are qualifying for jumbo loans as underwriting standards ease up. Total Mortgage Service, a Connecticut-based firm, saw jumbo loan originations jump from 19 in January to 54 in August of this year. The borrower’s average monthly income dropped from $25,059 in January to $18,567 in August, the Wall Street Journal reported. […]