JPMorgan Chase

The change — effective immediately — will reduce capital demands by about 2% overall, the Fed estimated, and will be open for a 45-day comment period.

The bank priced $1 billion in new fixed-rate Class A notes from its Chase Issuance Trust platform.

JPMorgan Mortgage Trust 2019-10 is a securitization of 388 prime-quality, large-loan mortgages that are mostly considered non-conforming, but meet qualified-mortgage (ability-to-repay) standards of the Consumer Financial Protection Bureau.

Lenders have bundled more than $18 billion worth of non-QM, private-label loans into bonds this year that they then sold to investors, a 44% increase from 2018 and the most for any year since the securities became common post-crisis.

The housing finance industry supports a proposed rule revision that would exempt banks regulated by the Federal Deposit Insurance Corp. from an RMBS disclosure requirement.

While demand is strong and loan performance generally remains solid, the prevalence of longer loan terms has sparked concern that losses will eventually spike.

The $5 billion financing package may also include around $1 billion of secured debt that would be sold to investors, as well as about $1.7 billion in letters of credit that would be split among participating banks

JPMorgan CEO Jamie Dimon said at an investor conference that the Trump administration's plan for Fannie and Freddie would provide more opportunities for financial institutions. He also called for an end to the U.S.-China trade war and weighed in on the prospect of interest rates falling to zero.

The bank started buying more Treasurys and mortgage-backeds over a year ago, long before talk about rate cuts. What did it know that its rivals didn't?

The decision is a blow to OnDeck, which said Monday that it intends to pursue a bank charter, either by applying for one or by buying a bank.