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Chase's Mortgage Earnings Jump on Servicing

Company-wide quarterly earnings soared at JPMorgan Chase & Co., while mortgage income jumped on soaring servicing revenue. Loan originations sank, and servicing dropped.

In its first-quarter earnings report, Chase indicated that income before income tax expense was $11 billion during the first-three months of this year.

Earnings at the New York-based financial institution jumped from the $8 billion that was earned both in the prior period and in the same three-month period last year.


Source: Mortgage Daily