chase servicing expenses: JP Morgan Chase Roughly $1 Billion in Servicing Expenses - 01/17/12 05:48 AM
Servicing Expenses Near $1 Billion

JP Morgan Chase was estimated at $925 million in the fourth quarter which put them up $59 million from the past three months, due to its mortgage servicing expenses. Doug Braunstein who is the banks chief financial officer stated that 75% of the expenses were connected to default and foreclosure costs. "We expect that to remain elevated through the first half of 2012," Braunstein said in a conference call with investors.
In the fourth quarter, the bank’s earnings were down 23% but it did receive record profits for the year. The reported net loss for … (0 comments)

 
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