A weak loan origination system and an increase in the share of delegated correspondent business has the originator rating of JPMorgan Chase & Co.’s banking subsidiary being downgraded.
Single-family loan originations — including jumbo mortgages — at the entire Chase organization during the 69 months that concluded on Sept. 30, 2017, amounted to $745 billion.
During that period, jumbo residential loan production accounted for $147.1 billion of the 69-month total. That worked out to 187,980 jumbo mortgages.
Source: Mortgage Daily