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JPMorgan Chase
Website - http://www.chaseb2b.com/Wholesale-Lending/
Status
As of 1/13/09, Chase announced that they would be closing their Wholesale department. At this time, they are still purchasing retail-originated loans.
From their website:
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• Chase is no longer accepting new Wholesale registrations, submissions and locks.
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• All current loans in your Chase Wholesale pipeline must fund by end of day March 20, 2009. This includes the purchase of Warehouse Seller loans.
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• Submission of underwriting conditions, scheduling closings and other existing Chase pipeline management activities remain available through ChaseLoanCenter.
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• Our Rural Housing program is unaffected by these changes.
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Home lending remains an integral part of our firm’s overall financial strategy and as such, we have a responsibility to our customers, shareholders and employees. Moving forward, we have decided to focus on loan originations through Chase bank branches, our Consumer Direct business, and retail-originated loans acquired from Correspondent lenders. Our new strategic direction is supported through the recent merger with Washington Mutual, which increased our bank branch inventory nationwide and enables us to serve nearly 70 percent of the American population.
As a result of our strategic decision, we are closing our Wholesale business.
We continue to purchase retail-originated loans through our Correspondent business. Our Rural Housing program remains unaffected by this change.
Official Announcement
(2009) Chase Wholesale Lending. Retrieved 3/2009 from http://www.chaseb2b.com/Wholesale-Lending/
Types of Financing Provided
Residential
Construction
Check Rates
Wholesale Programs
Retail Programs -
Fixed Rate Mortgages:
- 15-, 20-, 30- and 40-year fixed
Jumbo Mortgages:
- 10-, 15-, 20-, 25- and 30-year fixed rate jumbo
Adjustable Rate Mortgages:
- 1/1, 3/1, 5/1, 7/1 and 10/1 ARM
- 3/1, 5/1, 7/1, 10/1 ARM (40 year)
Interest-Only Mortgages:
- Interest-only fixed (30 year)
- Interest-only ARM (3/1, 5/1, 7/1, 10/1)
Other Specialized Loans:
- ChaseFlex International Borrower Fixed (15 & 30 Yr) & 5/1 ARM
- DreaMaker Opportunity
- Guaranteed Rural Housing
- FHA Fixed (15 & 30 Yr) & ARMs (1/1, 3/1, 5/1 & 7/1)
- FHA Secure (15 & 30 Yr Fixed & 5/1 ARM)
- Single-close construction to permanent fixed rate
- Single-close construction to permanent ARM
- Single-close construction to permanent interest-only -- fixed (30 year)
- Single-close construction to permanent interest-only -- ARM
- Chase Signature Series®
About the Company
"JPMorgan Chase's corporate headquarters are in New York City. Our retail financial services and commercial banking headquarters are in Chicago. Our major legacy institutions- J.P. Morgan, Chase Manhattan, Chemical, Manufacturers Hanover, Bank One, First Chicago, and National Bank of Detroit- contributed significantly to the development of communities worldwide. Our corporate history is intertwined with innovations in finance and the globalization of the world economy.
Key transactions leading up to the formation of JPMorgan Chase include the following:
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In 1991, Chemical Banking Corp. combined with Manufacturers Hanover Corp., keeping the name Chemical Banking Corp., then the second-largest banking institution in the United States.
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In 1995, First Chicago Corp. merged with National Bank of Detroit's parent NBD Bancorp., forming First Chicago NBD, the largest banking company based in the Midwest.
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In 1996, Chase Manhattan Corp. merged with Chemical Banking Corp., creating what was then the largest bank holding company in the United States.
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In 1998, Banc One Corp. merged with First Chicago NBD, taking the name Bank One Corp. Merging subsequently with Louisiana's First Commerce Corp., Bank One became the largest financial services firm in the Midwest, the fourth-largest bank in the U. S. and the world's largest Visa credit card issuer.
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In 2000, J.P. Morgan & Co. merged with Chase Manhattan Corp., in effect combining four of the largest and oldest money center banking institutions in New York City (J.P. Morgan, Chase, Chemical and Manufacturers Hanover) into one firm called J.P. Morgan Chase & Co.
These mergers culminated in July 2004 with the joining of J.P. Morgan Chase & Co. and Bank One Corp. to form today's JPMorgan Chase &Co. Fortune magazine said "the combined bank will be big and strong in a panoply of businesses," adding that "the deal has been widely lauded" by investment analysts. The New York Times said the merger "would realign the competitive landscape for banks" by uniting the investment and commercial banking skills of J.P. Morgan Chase with the consumer banking strengths of Bank One.
The story of JPMorgan Chase and its legacy institutions is explained further in the attached history of the firm, whose legacy reaches back more than 200 years with the founding of its earliest predecessor in 1799."
(2009) Chase Wholesale Lending. Retrieved 3/2009 from http://www.jpmorganchase.com/cm/cs?pagename=Chase/Href&urlname=jpmc/about/history
Licensed States
ALL 50 STATES
Contact Information
(Note: Content below is kept for prosperity's sake, but is no longer valid.)
Business-to-Business Home Office:
10151 Deerwood Park Blvd.
Jacksonville, FL 32256
More Contact Information
Account Executives
Cynthia Beer (A through A-Alta Residential – Las Vegas)
E-mail:
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Telephone: 702-245-5566
Eyal Kotler (A through A-Alta Residential – Las Vegas)
E-mail:
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Telephone: 702-232-3227
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