Jumbo loan production — in particular non-GSE jumbos — has increased nicely the past few quarters, but it appears that hopes for a revival in the securitization market for these mortgages may be stillborn.

Secondary market participants and executives working on Jumbo securitizations said that although mortgage originators — in particular the megabanks — are now more willing to fund jumbos than any time during the past two years, they aren't eager to sell the product to some of the newly forming conduits.

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