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Volume 2014 - Number 29

July 24, 2014

HUD: Other Lenders Will Fill in If Chase Bolts FHA; But Agency Working on Ways to Mitigate Lender Concerns

If JPMorgan Chase were to exit the FHA program, plenty of other residential lenders would pick up the slack, according to officials at the Department of Housing and Urban Development, who in a press briefing this week indicated the agency is hardly worried about such a development. “There are plenty of other lenders,” said one senior HUD official. “Their [JPM’s] volume has dropped. Quicken is now number one.” During an earnings call last week, JPMorgan CEO Jamie Dimon questioned...

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