The global pandemic has mortgage lenders steering away from even their wealthiest clients, as fears are abound that lost income could turn the industry’s best clients into its biggest risks.

Jumbo loans, which got their name because they are bigger than most conventional mortgages, have completely fallen out of favor with lenders – a far cry from how they were looked upon just months ago, according to Bloomberg.

Availability of jumbo mortgages is down 37% in March, more than double the overall home-loan market. They exceed the limit for government backed mortgages of $510,400.



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