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Gross charge-offs on the underlying card accounts were 2.48%, through the twelve-month (TTM) period, a notable drop from 4.43% in the same period a year earlier.

Higher mortgage rates are adding to pressure on would-be buyers in a market where purchase prices are still skyrocketing two years into the pandemic housing boom.

While both refinance and purchase customers were banging down the doors in 2021, leading producers are already working much harder as they change up their offerings.

An overly aggressive path of hikes to combat the spiraling cost of living may backfire. Bringing inflation down to 2% could push unemployment to nearly 10%.

The loans in the pool, all of which are fixed-rate and first lien, have an average balance of $426,504, and the top five loan balances account for 3.4% of the pool.

CEO Jamie Dimon cited elevated risks related to inflation and the war in Ukraine as the nation’s largest bank added $902 million in loan-loss reserves. “Does this represent conservatism in an uncertain macro environment or something more onerous?” one analyst asked.

The gain on sale from first quarter originations increased as the bank shifted more volume share to the higher-margin channel.

Proceeds from the deal will purchase the loan assets and fund the reserve account.

In its bid to get more workers back in its buildings, the company will spend on campuses across the country, expecting to create 12,000 new jobs as part of the investment.

Almost all of the underlying loans had been pooled in Ginnie Mae MBS deals, but the loans had been repurchased after they became seriously delinquent.