Banks Tighten Their Belts on Loan Approvals. What Does This Mean For Jumbo Loans?
Wells Fargo just announced an increase in the required banking and/or investment relationship for jumbo loans from $250,000 to $1,000,000. Additionally, they increased the restrictiveness of some of the loan approval guidelines. Back in April, Chase made similar moves to their lending rules and requirements. This trend is not limited to the big banks and …
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