How Bank of America, JPMorgan are keeping up with mortgage demand - Business Insider

— and then the Federal Reserve unleashed an emergency cut to its benchmark interest rate.

Following the rate cut, JPMorgan Chase's call centers and digital channels were flooded with mortgage-related inquiries, leading the bank this week to dial back its marketing spend. In contrast, Bank of America isn't shifting home-equity staff — because it extensively trained hundreds of them on mortgage underwriting in 2019 to give the bank more flexibility.

Mindful that many customers recently refinanced or took out a new mortgage, part of the calculus behind the cross-training initiative was that the bank wanted flexibility to handle a bump in home-equity flow, too.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Wall Street plunges as coronavirus slams bank, travel stocksWall Street falls more than 3% amid uncertainty of coronavirus and its economic fallout; shares of banks and travel companies pummeled TrumpSlump $APDN NEWS unseen! TINIEST FLOAT of all coronavirus stocks all other CV stocks have broken 52 week highs $APDN needs to run almost 1000% to hit its 52weekhigh of $37! News not pr'ed it's on their Twitter account this is why it hasn't taken off YET. Watch her break out AFTERHOURS Creation of crisis by the elite.
La source: Reuters - 🏆 2. / 97 Lire la suite »

Wells Fargo has announced two new bank accounts that limit or remove overdraft fees - Business InsiderWells Fargo announced two new bank accounts that limit customers' exposure to overdraft fees – catering to consumer demand and elevating new business.
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »