Private Mtg Insurance Company: 190 Zip Codes in Oregon are in "Declining Markets".

AIG United Guarantee, a private mortgage insurance company, now lists many Oregon markets and zip codes as "declining".

Their early June 2008 listing is "HERE"; I count 190 zip codes in Oregon listed as "declining" on pages 28 and 29. (That's 39% of the 484 Oregon zip codes I find listed on this commercial website HERE).

Limitations that United Guarantee applies to "declining markets" include:

• Maximum 90% LTV. Maximum 85% LTV for 2-unit dwellings.
• Minimum 680 credit score for loans up to $417,000 ($533,850 for 2-units), and 700 minimum credit score for jumbo loans.
• Second homes, condominiums, co-op, and construction-to-permanent loans are ineligible.