JPMorgan Invests in Mortgage Clearinghouse

Wall Street Journal, June 22, 2021–Matt Wirz and Ben Eisen (subscription)
JPMorgan Chase & Co. is redoubling efforts to revive a type of mortgage that largely died out after the last financial crisis. The bank is reinvesting in an electronic clearinghouse for “private-label” mortgages, which are packaged and sold to investors without a guarantee from a government-backed firm such as Fannie Mae. The market has been growing during this year’s hot housing market.