Super Jumbo Seconds - Gone With the Wind

Most of my lenders are pulling second mortgages for super jumbos off the market by Tuesday, November 20. LTVS for stated income, verified assets will be at 65% max for most lenders on anything super jumbo or larger.  Some of my lenders will go to 70%, but on a $4 mil purchase, that makes the downpayment $1.2 million.  Gives one pause, doesn't it?

MARKET COMMENTARY from Vertice:
"Two-year Treasury notes headed for a fifth weekly gain, their longest rally in eight months, as falling stocks and the prospect of an interest-rate cut next month prompted investors to seek the safety of government debt. Yields held near the lowest in 2 1/2 years as Goldman Sachs Group Inc. said the slump in credit markets may reduce bank lending by as much as $2 trillion".

[Count the zeros: $2,000,000,000,000 - that's the estimated cost of the war in Iraq . . . give you any ideas? Say, End the war and spend whatever is left in this country??? It would take care of two serious problems for us, wouldn't it?]

"U.S. debt also rose before a Treasury Department report that economists surveyed by Bloomberg News expect to show foreigners purchased $71.5 billion more U.S. assets than they sold in September, from net sales of a record $69.3 billion in August."