Fannie, Freddie can't mix and match conforming, jumbo MBS

Restrictions could limit rate benefits for jumbo borrowers

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Jumbo loan borrowers may not see much relief on interest rates when Fannie Mae, Freddie Mac, and the Federal Housing Authority start buying and guaranteeing loans above the current $417,000 conforming loan limit, because the loans will be barred from the most important secondary market where mortgages are bought and sold.

The Securities Industry and Financial Markets Association announced that “jumbo light” loans of up to $729,750 that Fannie, Freddie and FHA were temporarily authorized to buy or back as part of the