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The word is on the street – Bank of America will stop taking loan applications for the super-conforming loans (max $697,500 in SD) on July 1, 2011, in order to comply with Fannie/Freddie’s  October 1st deadline.

Their website today is quoting 5.0% with one point for jumbo money, so hopefully borrowers won’t be too bent out of shape about having to pay more – but the hysteria from the media is sure to ramp up concerns.

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