Will JP Morgan Chase Stop Issuing FHA Loans?

SOURCE: Mortgage News Feed

JP Morgan Chase & Co., the second largest mortgage lender in the U.S., may stop issuing Federal Housing Administration (FHA) loans, Jamie Dimon - CEO of the company - suggested at a latest earnings call. In a conference call with analysts, Dimon insinuated that JP Morgan Chase could cut down significantly on FHA lending because it does not want to take the risk of a huge loss once again. The bank recently paid a $600 million fine to the FHA for selling faulty mortgage loans that eventually led to the financial crisis in 2008.

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