Home values may fall as jumbo loans vanish

Soon enough, jumbo mortgages will be as hard to get as Charmin and Prell.
Just a few weeks ago, the entire private label jumbo mortgage channel stopped.
Jumbos are mortgages greater than the “conforming” amount that can be sold to mortgage giants Fannie Mae and Freddie Mac, or loans totaling over $765,600 in Los Angeles and Orange counties and over $510,400 in Riverside and San Bernardino counties.
Private label jumbos are those typically funded by non-bank lenders.
Non-bank lenders