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Million-Dollar U.S. Housing Loans Surge to Record Level - Bloomberg
 

Banks are handing out mortgages of as much as $10 million to the wealthy in record numbers while first-time homebuyers struggle to get loans.
Erin Gorman, managing director at Bank of New York Mellon Corp., said she’s fielding more requests for home loans of at least $2 million than ever before. She recently provided a mortgage of more than $6 million for a client’s purchase of a second property in Colorado.
A Bank of the West wealth management client who takes out a $1.5 million loan and keeps $750,000 in a wealth management account is eligible to get half a point off the usual cost for an adjustable-rate mortgage, Bank of the West’s Kendall said.