The U.S. government has recently been aggressively pursuing measures to help the beleaguered housing market. One measure that has been getting a lot of attention would allow Fannie Mae, Freddie Mac and Ginnie Mae to purchase mortgages greater than the conventional conforming loan limit, which is $417,000 according to the Economic Stimulus Act of 2008.

"The Fannie Mae and Freddie Mac jumbo programs are off to a very slow start," said Art Frank, director and head of MBS research at Deutsche Bank Securities; however, he expects the program to ramp up and see meaningful volume by the fall.

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