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JPMorgan Joins Wells Fargo in Rolling Out Jumbo Offerings

Todd Vitale, a personal trainer who opened his own gym last year, said he was having difficulty getting a mortgage of more than $700,000 to buy a home in Greenwich, Connecticut, because his new business was untested.

Vitale then tried Wells Fargo & Co., the biggest U.S. home lender, where he kept most of his savings in an account he opened more than a decade ago, he said. He worked with the bank’s private mortgage unit, whose clients are entitled to loans of up to $6 million and personalized service, and had the opportunity to explain that he had already run a similar business and could make the gym succeed. Wells Fargo approved his 30-year fixed-rate mortgage of more than $700,000, he said.