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Real Estate



Lynn Porter
Real Estate Editor
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March 20, 2008

Real Estate Buzz: Mortgage banker: New jumbo loans of little help

By LYNN PORTER
Real Estate Editor

One local mortgage banker thinks the new program in which Fannie Mae and Freddie Mac can buy jumbo mortgage loans from financial institutions isn't all it's cracked up to be.

The program is designed to free up money for lending, which would be a good thing for people trying to buy, sell or refinance condos and single-family homes. So Jeff Bell, a partner with Kirkland-based Cobalt Mortgage, tested it to see what it could do for his clients.


 
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