DISQUS

toby · 1 year ago

This product was eliminated long ago with the pricing. Non-agency rates were ridiculous and they made few to none. No real story here. They are still doing GSE loans which are competetive, but still to high for his market.
lars · 1 year ago

As a layman (ie not a mortgage broker), I would have thought this is bad news for anyone trying to sell a $1,000,000 plus home. These sales generally need a jumbo loan and there is now one less place to find the money. High priced neighborhoods are going to be effected.
Fielding Mellish · 1 year ago

As recently as 4-5 months ago Chase on the correspondent side had pricing that was approximately 2-4 discount points better than any other investor. On a non-coforming 30 year fixed, they would be at 6.625% @ 99.4, when the market was 7.375% @ 99.4 (all-in). Now they're exiting the business. Surprise surprise. If I ever suffer serious brain damage I hope I find my "note to self" reminding me to get a job in secondary at a big bank.