Business and Personal Finance Dictionary

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• NON-CONFORMING LOAN
  
  Also called a jumbo loan. Conventionalhome mortgages not eligible for sale and delivery to either FannieMae (FNMA) or Freddie Mac (FHLMC) because of various reasons, includingloan amount, loan characteristics or underwriting guidelines. Non-conformingloans usually incur a rate and origination fee premium.
  
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