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Return of the Jumbo

Just like '90s fashion, jumbo mortgages are back in style, baby: "JPMorgan resumed buying new jumbo loans made by other lenders this month, after halting purchases in March, spokesman Tom Kelly said...Citigroup is again offering the loans through independent mortgage brokers, spokesman Mark Rodgers said. The two New York-based banks are signaling new interest in a market hobbled since 2007, when record-breaking defaults on home loans caused investors to flee securities backed by mortgages." Palazzo Chupi penthouses for everybody! [Bloomberg]