Sunday, April 12, 2020

JPMorgan Scrambles To Raise Mortgage Borrowing Standards Ahead Of "Biggest Wave Of Defaults In History"

Earlier this week when we reported that JPMorgan has quietly halted all non-Paycheck Protection Program based loan issuance for the foreseeable future, we said that we didn't buy the stated reason namely - the bank was drowning in (government-backstopped) applications and would be willing to forego