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Home » Store » News » JPMorgan Chase Seeks Gradual But ‘Close to Zero’ Reduction of Mortgage Portfolio Holdings

JPMorgan Chase Seeks Gradual But ‘Close to Zero’ Reduction of Mortgage Portfolio Holdings

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JPMorgan Chase officials say they plan to liquidate the company’s giant $154 billion mortgage portfolio to “close to zero” as it works through the bank’s mortgage losses and litigation of loan-servicing and foreclosure practices. During the company’s earnings conference call with analysts, JPMorgan CEO Jamie Dimon noted that the company will continue to reduce its mortgage holdings by 10 percent to 15 percent a year “forever.” Last year, the company reduced its mortgage holdings by $19.3 billion. JPMorgan reported earnings of ...
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