Chase Bank Hit with Downgrade over Jumbo Mortgage Underwriting, Fintech Gaps
National Mortgage News, Aug. 24, 2018–Bonnie Sinnock (subscription)
Moody’s Investors Service downgraded JPMorgan Chase’s prime jumbo mortgage originator assessment to its second-highest rating, citing the bank’s growing reliance on correspondents with delegated underwriting authority and shortcomings in its technology infrastructure.
