The Ticker
JPMorgan Chase sells mortgage branch to Wingspan
2/20/13 2:51pm
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.
