The nation’s largest mortgage lender has announced it will close more than 400 branches in the next two years as its bottom line suffers in the wake of the fake-accounts scandal
Rise in mortgage expectations weakened home purchase sentiment
Unlike the risky subprime mortgages before the financial crisis, these new products have stricter regulations and are under a different name.
Private email exchanges between executives showed that Gao Hucheng said he would be “willing to go extra miles” for JPMorgan if his son kept his job during the bank’s 2008 layoffs.
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The lender will send refunds to more than 1,300 New Yorkers as part of a settlement with state regulators.
According to the lawsuit, minority borrowers were steered toward a program that pushed them into low- and moderate-income neighborhoods.
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