Jumbo Loans And White Elephants: Will The Pace Pick Up? ... Ok, so I have to give you a little bit of history about the origin of the phrase white elephant. It really has nothing to do with mortgage lending, but it’s a cool information nugget to know. Per Wikipedia (yes, again), in the tales from the Buddhist scriptures, Buddha’s mother dreamt of a white elephant giving her a lotus flower on the eve of Buddha’s birth. Thus, in Southeast Asia, it became a status symbol to own a white elephant (basically a requirement if you were some type of royalty). However, due to being sacred and all, the owner couldn’t have the white elephant actually do any work or labor to offset its keep. Ever wonder how much food an elephant can consume a day? Think of the clean up after it eats! You not only get to feed the beast constantly, but you also have nothing to show for it when you’re done. You get the picture. So, my analogy of there being a few white elephants in the real estate market right now is due in part to the jumbo rates not being so hot as of late. Loans below $417,000 are sold into mortgage backed securities. But jumbo loans are sold into private backed securities. And unfortunately due to the debacle in the mortgage industry that occurred in markets such as Florida, Nevada and California (where a lot of loan sizes are above $417K), there’s not a great appetite for the jumbo loan. It’s kind of like jumbo loans are liver and spinach on the menu. A few people will buy that stuff, but it’s not as popular as the cheeseburger....
The Best Way To Pick Up A Girl ... The Best Way to Pick Up a Girl Copyright © 2005 Paul Kyriazi. ...
Pick A Winning Company, And Make It Work For You. ... Living the high life?! Well, you've heard it all haven't you?? Headlines screaming with promised riches, group meetings that pump you up with music and hype, people telling you over and over again that this one is different! How in heck do you sort through it all?. ...
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Affiliate Programs - How To Pick The Solid Ones ... If you've surfed the internet long enough, you must've found so many merchants offering Affiliate Programs. But the tricky thing is to choose the solid ones for your niche...