Not true! This summer, my wife and I did some extensive repairs and renovations to our home to fix some structural problems and modernize it. When we went to refinance with our mortgage company (for a relatively modest amount, BTW, no where near this "jumbo" figure, our company bailed on us at almost the last minute, after assuring us that all was in order up to that point.
We certainly qualify as "prime" borrowers since my wife and I both have good jobs with solid incomes, a great credit score, and no credit card debt. Plus, we were existing customers with this company (which is reputable), and had an excellent payment record. Still, the company pulled the rug out from under us, and suddenly came back with terms that were pretty onerous. We had to decline. Fortunately, we had a safety net set up and will lose nothing, but this was really annoying.
What was the specific reason they gave?