“Super Conforming” Coined by Basis Point Contributor

One of the top stories this year has been higher conforming and FHA loan limits, and since limits were announced, many lenders and even FNMA call the loans Conforming Jumbo. Seriously. As if U.S. consumers weren’t already confused enough. One of our writers, Julian Hebron, has been calling these loans super conforming, which he says is a play on super jumbo. Before, loans up to $417 were conforming, loans above $417,000 to $1m were jumbo, and loans above $1m were super jumbo. So to keep things clear as new loan limits get implemented, Hebron calls loans up to $417k conforming and loans from $417k to $729k super conforming.

A San Francisco Chronicle story by Kathleen Pender on conforming loans credited Hebron with this phrase on February 17. Then today, in her latest piece on the subject, Pender said “I prefer super conforming” as a term to describe the higher-tier conforming loans. If Super Conforming spreads from there (and it should because it’s the most consumer-friendly term amidst all the lender chaos), you heard it here first…