General World News

JPMorgan Chase amps up correspondent lending

JPMorgan Chase, the nation’s largest depository bank, increased mortgage origination volume to $32.5 billion in the fourth quarter, a 12% gain on the prior quarter. But that doesn’t quite tell the whole story.

The Jamie Dimon-led bank increased overall mortgage origination volume primarily through its correspondent channel, according to the earnings report issued this week. Its retail originations actually fell slightly in the fourth quarter, likely due to a rise in coronavirus cases across the country (see page 15).

Overall, retail originations declined to $20.1 billion from $20.7 billion in the third quarter, details ⇒

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