Now that JPMorgan Chase executive Michael Cavanagh is no longer at the bank, Matt Zames, the bank’s chief operating officer, is considered to be a potential favorite to take over when CEO Jamie Dimon finally decides to step down.
But if they must, the due diligence performed upfront should be show stopping
November 21, 2013
Some analysts believe JPMorgan Chase was just being a good corporate citizen when it bought Bear Stearns and WaMu in the heat of the financial crisis. Yet, the bank is receiving no favors for taking on the risk.
JPMorgan Chase CEO Jamie Dimon may be eager to get all of the company's legacy mortgage issues behind it, but how the bank responds to pressure from the Department of Justice and other regulators is crucial and a potential harbinger of what’s to come on the mortgage litigation front for mega banks.
Despite media headlines frantically asking for the ouster of JPMorgan CEO Jamie Dimon, there is a huge disconnect between the media's view of Dimon and that of investors, analysts, board members and regulators.
One by one, they filed into the city council chambers. They took their seats and waited their turn, and once there weren’t any seats left, they moved to the seldom-used overflow seating. When the overflow seating filled, they moved to the civic center so they could watch the meeting on a closed-circuit feed..
It’s a new world, and in this new world, data is more crucial than ever. Getting the best data possible, and then being able to interpret that data to improve performance, will be a competitive edge that no company in the mortgage finance space can do without in the current environment of volume contraction. Read More
Only seven or eight years ago, mortgage fraud was one of the top stories in the industry. It was quite common to see stories estimating losses in the millions, with some experts suggesting that these numbers were only the tip of the iceberg. Lenders and their partners scrambled to strengthen their fraud-prevention strategies. Read More