Inside Wall Street's mad dash to keep up with a surge in mortgage demand that could be a rare bright spot after an emergency Fed rate cut
— and then the Federal Reserve unleashed an emergency cut to its benchmark interest rate.
Following the rate cut, JPMorgan Chase's call centers and digital channels were flooded with mortgage-related inquiries, leading the bank this week to dial back its marketing spend. In contrast, Bank of America isn't shifting home-equity staff — because it extensively trained hundreds of them on mortgage underwriting in 2019 to give the bank more flexibility.
Mindful that many customers recently refinanced or took out a new mortgage, part of the calculus behind the cross-training initiative was that the bank wanted flexibility to handle a bump in home-equity flow, too.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
State Bank of India says a 49% stake in Yes Bank will cost $331 millionState Bank of India said it will need to invest 24.5 billion rupees ($331 millio...
Les mer »
Walmart’s Payments App Left In The Lurch After India Seizes Yes BankMillions of merchants and dozens of businesses in India who relied on Yes Bank software have faced disruption after India’s central bank seized the struggling lender.
Les mer »
India’s Central Bank Seizes Struggling Lender, Caps WithdrawalsIndia’s banking regulator seized control of Yes Bank, the first time in more than a decade that the government has stepped in to backstop a private lender.
Les mer »
6 Ways Your Bank Can Help You Manage Your MoneyYour bank can help you manage your money, with text or email alerts, online bill pay and mobile check deposit.
Les mer »
Wall Street plunges as coronavirus slams bank, travel stocksWall Street falls more than 3% amid uncertainty of coronavirus and its economic fallout; shares of banks and travel companies pummeled
Les mer »
Wells Fargo has announced two new bank accounts that limit or remove overdraft fees - Business InsiderWells Fargo announced two new bank accounts that limit customers' exposure to overdraft fees – catering to consumer demand and elevating new business.
Les mer »