Chase Banking Chief Says Loan Mod Re-Default Rate Not So Bad
JP Morgan Chase’s retail banking chief Charles Scharf told shareholders the delinquency rate on modified mortgages isn’t as bad as what’s been tossed around lately.
During the company’s investor day in New York, he said loan modifications can be successful “if done properly,” meaning if important things like income are actually verified the second time around.
He noted that a loan modification Read more