Customers of Chase Private Client, who have assets ranging from about $500,000 to $5 million in total wealth, increasingly are opting to use their deposits and investments as collateral when borrowing. Some clients use the credit as bridge loans or to make larger down payments.

Vitale, the trainer who works with high school and college athletes at his Division 1 Prep gym, said he considered going to a non-bank, such as a hedge fund, for his home loan. He said he was dissuaded by the high rates and hoops he would have had to jump through to get the loan, compared with getting his Wells Fargo mortgage.

100% Financing

“We are pleased to know that Mr. Vitale received assistance with his home lending needs,” said Emmanuel Vuillequez, product manager for non-conforming mortgages at Wells Fargo.

Last year, Wells Fargo created a special team of 400 underwriters spread across six U.S. locations who just focus on jumbo loans.

“Jumbo lenders are looking for ways to distinguish themselves from other jumbo lenders,” said Guy Cecala, publisher of Inside Mortgage Finance, a trade publication in Bethesda, Maryland. “Jumbo lending was the bright star of the mortgage market last year, so everyone is looking to ride that momentum into 2014.”

At Bank of New York Mellon Corp., where the average size of a mortgage is $1 million, clients can get 100 percent financing. They don’t have to put any money down and can instead pledge assets in investment accounts as collateral, said Bill Sappington, head of private banking at the New York-based firm.

Smaller Deposits

BNY Mellon earlier this year started offering customers the option to lock in mortgage rates for 90 days, instead of the typical 30-day term. The additional days give them more time to close knowing the rate is secure.

Bank of America in October reduced the down payment to 15 percent from 20 percent for most jumbos of less than $1 million. Existing customers at the bank may receive discounts on their mortgages based on their level of business with the firm, said Susan Atran, a Bank of America spokeswoman.