twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from

Mortgage News Reprints
Put entire stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed stories free on your Web site or for your RSS reader.

News Archives
Archive of stories by month going back to 1999.

Press Releases
Reports and announcements from

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News


Mortgage News

HOT Topics









site map

Secondary Marketing News | Correspondent Lender Directory
Mortgage portfolio trades and forward commitments. Correspondent lending, r e p u r c h a s e s and warehouse news. Secondary marketing statistics and lawsuits.

Chase Restricts Loans to Auditors, Examiners

Bulletin issued to correspondent customers

Oct. 22, 2009

By staff

JPMorgan Chase & Co. has advised its third-party customers that it is changing its policy on mortgage loans to external auditors and bank examiners.

The New York-based institution disclosed the changes in a bulletin to its correspondent customers today.

Chase said it will not purchase mortgages made to external auditors who "may also be authorized to examine JPMorgan Chase & Co. or any of its subsidies." The restriction applies to immediate family members of the audit employee as well as other partners at the auditing firm. The impacted auditing firms include PricewaterhouseCoopers; Faw, Casson & Co.; and Meaden & More.

In addition, the company will only purchase mortgages made to bank examiners if the loans were made on their principal residences, according to the bulletin. In an apparent attempt to ensure no favorable terms are given to examiners, Chase said any loans to bank examiners "must be made on the terms and conditions generally prevailing at the time."

Impacted bank examiners include those who have authority to examine Chase -- including the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and the state of Michigan.

Chase also indicated that a "No Conflict Letter" from the borrower's employer will no longer satisfy the requirements for this type of borrower.

A spokesman for the company indicated he had no idea why the move was made.

The changes are effective on loans locked or re-locked on or after Oct. 26 and on commitments taken on or after Oct. 26.

JPMorgan profile

next story

back to current headlines

Corporate Mortgage News
M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.

Financial Regulation News | Mortgage Regulations
Bank and mortgage regulators, regulations and regulatory actions. Coverage of regulatory legislation and testimony.

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders