Threat to Quit FHA Seen as Pressure Move on Rules

Threat to Quit FHA Seen as Pressure Move on Rules

JPMorgan Chase & Co., one of the nation's largest mortgage lenders, is threatening to stop originating mortgages insured by the Federal Housing Administration.

The bank's CEO, is asking FHA to issue clearer rules of when the government will hand down such penalties. Without such rules in place, JPMorgan would consider getting out of the FHA mortgage originating business altogether. Without getting that balance back into play, we're going to be continuing to face an overly tight credit market,' Read more.