According to recent numbers, J.P. Morgan (the company that purchased Washington Mutual) now has the highest percentage of 2nd lien loans such as home equity lines of credit (HELOCs). A recent Seeking Alpha article reports: “For now, let’s realize that the JPM/WaMu combo has the highest concentration of 2nd lien loans (and Option ARMs) in [...] [...more]
Don’t plan on taking out a home equity line of credit from J.P. Morgan anytime soon. According to MarketWatch, their HELOC originations dropped a whopping 77% when compared to last year: “Home equity loan origination dropped more dramatically, falling 77% on a year-to-year basis. “Declines reflect tighter underwriting standards and the overall reduction in liquidity [...] [...more]
After weeks of rumors and speculation, it finally happened – Washington Mutual fell and was promptly purchased by financial giant J.P Morgan. Market Watch reports: “Late Thursday, J.P. Morgan announced an agreement to buy WaMu’s banking subsidiary after the nation’s largest thrift was seized by the Federal Deposit Insurance Corp. In a presentation on its [...] [...more]
