JPMorgan Chase has had losses of $1.5 billion on MBS assets so far this quarter as the U.S. housing slump deepened amid turmoil in credit markets.

Trading conditions "have substantially deteriorated" since July, and "sharply widened" spreads on mortgage-backed securities and loans caused losses, the company said in its quarterly filing late Monday.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.