2011 Corporate Responsibility Report - JPMorgan Chase

HELPING HOMEBUYERS AND HOMEOWNERS
“We never want to lose sight of our purpose. At the end of the day, we’re here to help people find and afford
the right home. Helping our customers become homeowners is a responsibility and a great privilege.”
The effects of America’s housing crisis
are still with us: developments still
half-occupied, neighborhoods with
home values still depressed and, more
importantly, millions of families still
struggling to stay in their homes.
The path to full recovery remains long.
We are doing everything possible to
help our customers stay in their homes
and are working hard to help rebuild our
communities. We have also continued to
help first-time and existing homebuyers
purchase and refinance homes. After
all, a mortgage is the largest single
Hired 700 new loan
officers to help more
customers obtain a
mortgage or refinance
Frank Bisignano, Chief Administrative Officer and CEO, Mortgage Banking, JPMorgan Chase
financial transaction that most people
will ever make. Over 40,000 mortgage
professionals are working hard each
day so that Chase can become the
best partner with our customers in
home ownership.
In 2011, we made a number of changes
to our mortgage business practices and
made huge strides in our efforts to meet
the needs of current and future customers.
Key improvements include a single point
of contact for struggling homeowners,
stronger third-party oversight and
management, a streamlined customer
Donated or sold at a
discount nearly 3,000
distressed properties
to nonprofits and
municipalities
complaint process and improved training
for our employees.
ORIGINATION
As one of the largest mortgage originators
in the U.S., Chase is proud to help
Americans take advantage of historically
low interest rates and understand the
importance of helping families achieve
their dreams of owning a home. Our
bankers and servicers originated over $145
billion in home loans in 2011, funding over
765,000 mortgages for home purchase or
refinance, of which 214,000 were to
low- or moderate-income families or in
Opened 31 new Chase
Homeownership Centers
in 2011 for a total of
82 centers in 28 states
and DC
2011 CORPORATE RESPONSIBILITY REPORT 41