General World News

Opening 2Q earnings season, JPMorgan reports mortgages in free fall 

JPMorgan Chase leaders Thursday provided a glimpse of what’s to come as mortgage lenders begin sharing performance data for the second quarter – and it’s not pretty.

Opening the earnings season, the bank reported double digit declines in originations, margins compressions and revenues in a free-fall, demonstrating how higher mortgage rates, the result of the Federal Reserve‘s tightening monetary policy, are hurting originators. 

To prepare for a potential recession in the U.S., the Jamie Dimon-helmed bank has been conservative in its servicing portfolio as the economy slows down.

According to Dimon, the U.S. economy continues to grow, touting both a details ⇒

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