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JPMorgan to Phase Out Mortgage Holdings

Started by stevejhx
over 14 years ago
Posts: 12656
Member since: Feb 2008
Discussion about
JPMorgan Chase & Co. (JPM) is winding down its $154 billion mortgage portfolio to "close to zero" as the bank works through mortgage losses and litigation over loan- servicing and foreclosure practices. JPMorgan, which has reduced mortgage holdings by $19.3 billion in the past year, will continue shedding assets by about as much as 15 percent a year "forever," Dimon told analysts on a conference call after the New York-based company reported a 13 percent increase in net income for the second quarter. http://www.bloomberg.com/news/2011-07-14/jpmorgan-to-phase-out-mortgage-holdings.html GET YOUR MORTGAGES! GET YOUR RED-HOT MORTGAGES!
Response by huntersburg
over 14 years ago
Posts: 11329
Member since: Nov 2010

Aren't you moving to Florida and buying a place down there? Will you need a mortgage?

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Response by NYCMatt
over 14 years ago
Posts: 7523
Member since: May 2009

I am seriously considering leaving NYC to head back home to Pittsburgh to live in a nice place that's so affordable I wouldn't need a mortgage: http://www.realtor.com/realestateandhomes-detail/Economy_PA_15005_M44882-72341

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Response by stevejhx
over 14 years ago
Posts: 12656
Member since: Feb 2008

No, HB, I will buy my place in cash.

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