CFPB proposes 7 big changes to foreclosure process for mortgage servicers

CFPB proposes 7 big changes to foreclosure process for mortgage servicers

Adds guidance on extended borrower protections

Fannie Mae: Don't expect 2015 to be a breakout year for housing

New year will likely mirror 2014

Stop panicking about recent foreclosure numbers

The sky is not falling
W S
Lending

JPMorgan will cut at least 13,000 mortgage jobs

JPMorgan Chase (JPM) the leading global bank, announced they will reduce head count by 13,000 to 15,000 employees in the mortgage unit through 2014.

This number is on top of the 4,000-person reduction in the consumer banking unit of the company, reported earlier.

"Fewer homeowners are falling behind on mortgages, so we need fewer employees to assist those who are struggling," said Amy (), a spokesperson for () Chase. 

"We will work with affected employees to find openings at Chase or local companies." 

The announcement comes as Wingspan Portfolio Advisors entered into an agreement to acquire JPMorgan Chase mortgage servicing operations in Melbourne, Fla.

Wingspan, a component and special mortgage servicer, said it would offer positions to more than 400 Chase staff members, while officially acquiring the lease of the staff’s Melbourne office building. 

The expansion means Dallas-based Wingspan now has an employee base of 2,000 staff members in four locations throughout Texas and Florida. 

()

Recent Articles by Brena Swanson

Comments powered by Disqus