By the end of 2012, JPMorgan Chase originated approximately 920,000 mortgages with a total combined value of $190 billion, the company said in its corporate responsibility report.
Since 2009, JPMorgan Chase (JPM) has prevented 945,000 foreclosures, while offering 1.4 million mortgage home modifications and finalizing 610,000 mods, the company said.
“As challenging as the last several years have been, we have never considered minimizing or eliminating our involvement in the mortgage business,” JPMorgan added. “We are continuing to invest in this business by growing our sales force and introducing technology applications to improve the customer experience.”
The bank has completed 250,000 short sale transactions and forgiven $10.8 billion in principle for Chase-owned mortgages.
According to the JPMorgan Chase, the surge in originations makes it the second largest originator.