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JPMorgan Chase sells mortgage branch to Wingspan

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JPMorgan Chase said it will sell a Melbourne mortgage banking and borrower assistance operation, which employs about 400 people, to Wingspan Portfolio Advisors.

A JPMorgan representative said in a statement that a steadily improving housing market means fewer homeowners are falling behind on their mortgage payments, and the bank doesn’t need as many resources to service and pursue defaults.

Source: Florida Today
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