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Mortgage lending

Race and Economy

JPMorgan Chase promises $30 billion to address racial wealth gap

by David Brancaccio , Nova Safo and Alex Schroeder
Oct 8, 2020
Some of the initiative is philanthropic, but most of it is lending with an expected return for the bank.
"We can do more and do better to break down systems that have propagated racism and widespread economic inequality, especially for Black and Latinx people," JPMorgan Chase Chairman and CEO Jamie Dimon said.
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"Alt-doc" mortgages are booming. Some analysts are worried.

by Renata Sago
Jul 5, 2019
People who don't qualify for traditional mortgages can get "unconventional" loans. But what if the economy slips?
A for sale sign is posted in front of a home as interest rates for home loans climbed to nearly 4% in the wake of the election of Donald Trump to be the U.S. president on November 17, 2016 in Miami, Florida.
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What layoffs in the mortgage industry say about our economy

by Justin Ho
Nov 16, 2018
It’s been a year of transition for Wells Fargo after a series of scandals in its consumer banking business. The company’s paid billions of dollars in penalties and just announced it’s cutting 900 jobs in its mortgage division. The job cuts are part of a big restructuring plan the bank announced back in September, with […]
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