JPMorgan Chase CEO paints rosier picture of mortgage business in 2017
By Ben Lane | HousingWire
Last year, JPMorgan Chase CEO Jamie Dimon painted a particularly unflattering view of the mortgage business in his yearly letter to shareholders, stating that the regulatory environment and the cost of doing business was pushing the bank away from mortgage lending.
So why does Chase stay in the mortgage business? According to Dimon’s 2016 letter, the bank remains in the mortgage business for the sake of its customers. “As a bank that wants to build lifelong relationships with its customers, we want to be there for them at life’s most critical junctures,” Dimon said last year.
But this year, Dimon’s tone toward the mortgage business is much different.