Browsing Tag:Manhattan

manhattan-condo-weak-point-spurs-tighter-jpmorgan-chase-co-jumbo-loans
"If it became a widespread, general policy for all banks, it would definitely slow the market down," said Stephen Kliegerman, president of Brown Harris Stevens Development Marketing, who endorsed Chase's new lending rules.A JPMorgan spokesperson confirmed the new loan terms and said the bank was making the change based on "current economic conditions."Banks have already started tightening some terms,...
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jpmorgan-chase-tightens-requirements-for-jumbo-loans-in-manhattan
JPMorgan Chase Bloomberg reported Friday that jumbo loan terms for Manhattan cooperatives and condominiums were tightened due to declining buyer demand. Chase announced that starting this week, jumbo loans would be capped at 70% of the selling price. The new standards apply to loans greater than $ 765,600 that are not guaranteed by Fannie Mae and Freddie...
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