Posted To: Pipeline Press

I can’t predict the future, don’t even know what I’m doing for lunch today, but in October this commentary suggested that with the MOU inked in October between HUD and the Department of Justice centered on alleviating some of the uncertainty regarding the False Claims Act penalties, the big banks would take a good look at re-entering the FHA biz. And why not, given the perceived profit margins and customer service opportunities? Jump on in, the water’s great! “Jump” isn’t the word, but sure enough, yesterday JPMorgan Chase confirmed that it’s contemplating reentering the FHA market as a direct originator, probably with a cautious eye about a potential administration change in November. (Chase has continued to purchase FHA loans from its correspondents…(read more)

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Source: Mortgage News Daily