reasons for mortgage losses: The Mortgage "Blame Game"
- 03/13/09 08:24 AM
JP Morgan Chase CEO Jamie Dimon is hearing it from the National Association of Mortgage Brokers after making an ill-advised comment at the U.S. Chamber of Commerce's 3rd Annual Capital Markets Summit yesterday. "My biggest mistake, probably of my whole career, was not closing down our mortgage broker business sooner," Dimon said, while citing loss rates two to three times higher on broker-originated loans versus those originated by retail employees. NAMB president Marc Savitt responded in kind, saying, "It is disappointing to once again refute senseless attacks on the mortgage brokerage industry based on misinformation. Mr. Dimon's comments clearly reflect his … (0 comments)
JP Morgan Chase CEO Jamie Dimon is hearing it from the National Association of Mortgage Brokers after making an ill-advised comment at the U.S. Chamber of Commerce's 3rd Annual Capital Markets Summit yesterday.;)
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