Right before JPMorgan Chase [stock JPM] [/stock] announced it would cut 13,000 to 15,000 jobs within its mortgage unit, HousingWire’s Jacob Gaffney discussed the bank's evolving mortgage business with Kevin Watters, head of Mortgage Banking at JPMorgan Chase (Full Story/Interview Here).
A few years ago, JPMorgan was well past 10th place in terms of how customers viewed the company as both an originator and servicer. Jump ahead to today and Watters is facing a far different future, one where a focus on customer service has placed JPMorgan in fourth place among the nation’s top servicing and origination platforms, according to a new J.D. Power survey.
On the same week that the company announced fewer homeowners are behind on their mortgages, creating fewer employees for servicing loans, Watters interview with HousingWire paints a future where the firm is in fact moving forward as originations take the lead.