Best automation opportunities for loan processing

Join our expert panelists to learn how lenders can achieve their goals using the integration of intelligent document automation and RPA technology.

4 Strategies to Strengthen Customer Relationships

Discover the right strategies to execute fast-acting campaigns, track results and improve your bottom line – all while strengthening customer relationships.

HousingWire's 2021 Spring Summit

We’ve gathered four of the top housing economists to speak at our virtual summit, a new event designed for HW+ members that’s focused on The Year-Round Purchase Market.

An Honest Conversation on minority homeownership

In this episode, Lloyd interviews a senior research associate in the Housing Finance Policy Center at the Urban Institute about the history and data behind minority homeownership.

Mortgage

JPMorgan Chase amps up correspondent lending

Retail origination volumes actually declined in Q4 2020

JPMorgan Chase, the nation’s largest depository bank, increased mortgage origination volume to $32.5 billion in the fourth quarter, a 12% gain from the prior quarter. But that doesn’t quite tell the whole story.

The Jamie Dimon-led bank increased overall mortgage origination volume primarily through its correspondent channel, according to the earnings report issued this week. Its retail originations actually fell slightly in the fourth quarter, likely due to a rise in coronavirus cases across the country (see page 15).

Overall, retail originations declined to $20.1 billion from $20.7 billion in the third quarter, according to its earnings statement. Correspondent volume increased to $12.4 billion, way above the prior quarter’s $8.3 billion in volume.

Even with the overall quarterly increase, the bank isn’t fully back to its pre-pandemic origination volumes. In the fourth quarter of 2019, JPMorgan Chase originated $33.3 billion in mortgages.

It also means that the company’s overall mortgage share continues to slip, as nonbank lenders such as Rocket Companies, United Wholesale Mortgage, Guaranteed Rate, LoanDepot, Homepoint and others step on the gas.


WFG reports its highest volume months ever during Q2 and Q3 of 2020

As the company celebrates its 10th anniversary, WFG continues to look for new ways to serve its clients, consumers and industry.

Presented by: WFG

JPMorgan Chase’s gain-on-sale margins fell to 247 basis points in the fourth quarter, a drop of 17 basis points from the prior quarter. The MSR valuation rose 12% over the prior quarter. The carrying value increased to 74 basis points from 66 basis points last quarter, and the MSR servicing fee multiple increased to 2.64X from 2.28X.

JPMorgan disclosed that, as of Dec. 31, it had $23.5 billion in residential loans with payment deferrals, down from $28.5 billion on Sept. 30 and $54.5 billion on June 30. Approximately 97% of accounts that exited payment deferral are current, the bank said.

Overall, the bank reaped profits of $12.1 billion – $3.79 per share – on revenue of $30.2 billion. That topped analysts’ expected earnings of $2.62 per share on revenue of $28.7 billion. The fourth-quarter figures also topped that of the fourth quarter of 2019, which featured $29.2 billion in revenue.

JPMorgan Chase still has over $30 billion in reserves that had been set aside to protect against credit losses from the ongoing COVID-19 pandemic.

Overall, JPMorgan Chase is servicing $626 billion in mortgages, down 4% from $654 billion in the third quarter and 18% from the $761.4 billion in loans serviced in Q4 2019.

Leave a comment

Most Popular Articles

Chopra warns of post-COVID housing market fallout

Rohit Chopra warned of housing market fallout and said he would focus on helping struggling homeowners at his Senate Confirmation hearing.

Mar 03, 2021 By

Latest Articles

CFPB delays QM compliance date to October 2022

The Consumer Financial Protection Bureau released a notice of proposed rulemaking on Tuesday to delay the mandatory compliance date of the Qualified Mortgage final rule from July 1, 2021 to October 1, 2022.

Mar 04, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please