Hold tight and be prepared!
No one in indispensable.
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Looks like it is happening now in APAC this week.
Hey mortgage pipple the rates are only going higher and so what do you think will happen??? Refis zero Purchases down...
In Dimin we trust
When you say this quarter you mean by April 1?
Is this going to affect the closing space?, any firm date rumours?
It’s not on those books and they can write off those loans they purchase but they can’t write off the ones they originate. They need to sell and package more loans then buy. The call proved it and I actually have a voice recording (allegedly)
This quarter...
Is there a target date for this, that we know of??
I sell loans to chase outta florida from my bank. Would they not buy if this was true?
There was a call mid 22 talking about that then JD went in front of congress to complain how they keep moving the needle regarding the reserves/capital JPMorgan should have. This is when Jumbo rates were for HB loans as well for 6 weeks to calm the public down. JD doesn’t like mortgages and they purposely slowed down origination hence the high rates compare to our competitors since Oct 2021.
Dates?
I sold loans to chase I know them as a buyer ot a seller. Than they package the loans to investors as mbs...
Are there any more specifics on this that you can share, please?
When you say “purposely slowing down origination to sell more loans”, can you elaborate? Specifically what does selling more loans mean? Is there a requirement for more reserve funds? Why does Congress wand Chase to have “enough capital?” What for?
Zoom call at 8am EST
Collect unemployment
Not much but Chase pays out the ar-e for UE
Agree with the previous comment… Even when the market bounces back, what does that look like for Chase? High premium rates and NNM is which a joke. Might as well look for something else. They’ll never be competitive. We only made it because of Covid.
I would just look for other positions. The market is not good and even when it balances back, Chase won’t be competitive
My exact thought when it happened before it did. Some things that seem negative bring about an opportunity. Obviously for some not for everyone.
Staying for my severence so I can pay my bills off. I have put years in. They can pay me to go away.
Layoffs are done quarterly! If youve been with Chase for sometime you’ve seen the pattern.
I heard it is coming again in May of 2023
So now is every month. Not just every quarter ? Is this confirmed or just another “rumors “ even with the closing of DG we still slow on Tempe closing support
No clue why any of you stay at this point as an HLA, you all need to walkout on these dirtbags.
Bring it on, I am not afraid lol
July 2022 TownHall call. Head of Product Lending explained how Congress wants Chase to have enough capital which JD spoke with Congress about how they keep moving the line. This is right when he changes HB rates to Jumbo rates to be competitive for 6 weeks before changing it back again. Legally they can’t tell you their purposely slowing down origination but if you provide a higher rate (over 2 percent compare to our competitors) this allows loan origination to slow down and allow Chase to sell off their loans in order to gain more capital and allow them to lend more. JD doesn’t see mortgages as a type of business long term hence the move for mor Business Bankers and Wealth Management.
Is this just wild a-s speculation, or do you actually know something?
Really? Where did you hear that? Makes me wonder if being an HLA at Chase has any real benefit. We’ve been proved purposely on a premium since 2022 and the TownHall Meeting confirmed that. We’re purposely trying to slow down origination so we can sell more loans in order to earn more capital to lend again.